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In reality, an option's value will equal its intrinsic value only at expiration. At all other times, the option's premium or price will exceed its intrinsic value. A major reason for this is/are _____________.
Competence
The ability to do something successfully or efficiently, often referring to specific skills or knowledge.
Self-directed Learning
The practice of individuals taking the initiative, with or without the help of others, to diagnose their learning needs, formulate learning goals, identify resources for learning, choose and implement suitable learning strategies, and evaluate learning outcomes.
Collegial Consultation
A professional practice in which colleagues within the same field share knowledge and advice to improve their work, often in a non-hierarchical manner.
Fieldwork Education
A component of education that involves learning through hands-on experience in a real-world setting outside the classroom.
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