问题如下：
Exhibit 2 presents most of the data of a binomial lognormal interest rate tree fit to the yield curve shown in Exhibit 1.
Regarding the missing data in Exhibits 2, the trader is to perform a test that the binomial interest tree has been properly calibrated to be arbitrage-free.
A benefit of this test is that it:
选项：
A.identifies benchmark bonds that have been mispriced by the market.
B.enables the model to price bonds with embedded options.
C.allows investors to realize arbitrage profits through stripping and reconstitution.
解释：
B is correct.
考点：考察二叉树的相关概念.
解析：校准利率二叉树以匹配特定的利率期限结构非常重要。A选项是错误的，因为基准债券被认为是正确定价的，我们使用其市场价格来验证利率二叉树中利率的准确性。一旦二叉树确认了准确性，就可用来对含权债券进行定价。
C不正确，因为二项利率树的校准，实质上确定利率二叉树定价出来的债券价格是无套利的价格，因此二叉树利率的矫正不会有套利的机会。
老师，看了您的另一个回复，还是不明白B选项？可以再多解释一下么？
