9. The risk of the occurrence of a significant difference between the mark-to-model value of a complex and/or illiquid instrument, and the price at which the same instrument is revealed to have traded in the market is referred to as:

A. Dynamic Risk

B. Liquidity Risk

C. Mark-to-Market Risk

D. Model Risk

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A.  A. and C. are undefined terms

B.  the risk of not being able to sell an asset quickly

C.  undefined term

D.  this is how model risk is defined in the reading