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The currency trade is actually “riskless” since you are locking in the borrowing rate, the rate you are going to lend at, and the rate you will then convert the currency back at up front. If the forward price doesn’t accurately reflect the rates, then you can do the transaction, set it and forget it, and earn the arbitrage profit. Both the CFAI and Schweser call this type of profit “riskless.”
Revenues are growing faster than working capital & CAPX. This means FCF will be positive at some point in the future. Early FCF can be negative as long as they grow steadily and become positive later.
RI model is more for a firm that has persistently negative FCF without prospects of becoming positive, or very volatile FCF (neg one year, pos the other)

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