true or false ?

4) Both covered and uncovered interest arbitrage are risky operations in the sense that even without default in the securities, the returns are unknown until all transactions are complete.

5) All that is required for a covered interest arbitrage profit is for interest rate parity to not hold.

6) COVERED interest arbitrage (CIA), is where investors borrow in countries and currencies exhibiting relatively low interest rates and convert the proceeds into currencies that offer much higher interest rates. The transaction is "covered" because the investor does not sell the higher yielding currency proceeds forward.