To evaluate investors' income and improve the diversification of portfolio assets, a number of researches, using the concepts of Harry Markowitz, have developed a model of financial asset pricing (CAPM), which illustrates the link between two major economic factors: risk and expected return. One of the important aspects of this model is the risk-free rate, which represents the investor's profit without risk. However, there are currently no zero-risk assets offering a return, and investors must recognize a type of security where the interest rate will be minimal. Risk-free income is measured, usually at government bond rates, because these carry little risk. First of all, we must define the concept of risk-free rate. Damodaran (2008) states that two key aspects determine this conception. On the one hand, it is the absence of default risk; on the other hand, reinvestment risk shouldn't be either. It illustrates that, for example, zero coupon government bonds can be accepted as risk-free, because there is no cash flow and these securities are issued by the government, which is able to manage and restrict the printing of money. Weinman (2011) determines the risk-free rate in a manner quite similar to that of previous researchers, but works with different notions. Thus, according to Weinman, the risk-free rate implies the risk-free rate of credit and market. While the first corresponds to the absence of default risk for investors, the second means the absence of fluctuation in the price of securities. Having examined the definition of the risk-free rate, work can now shift to the question of which assets should be accepted to offer this type of rate.Short-term treasury bills are in the middle of paper.... .., US Treasury securities continue to be risk-free at the moment, but if the situation does not move towards improvement in sovereign debt, the movements of investors and the market in general are unpredictable. While many researchers generally agree with this opinion, others are already suggesting new solutions based on a risk-free benchmark. Works Cited Desai, PS, Koenigsberg, O. and Purohit D. (2010) 'Forward Buying by Retailers' Journal of Marketing Research Vol. 47, February 2010, pp. 90-102Qalli YE (2008) “Interpolation of Futures Price from Application of Cash-Traded Futures to Energy Models” Journal of Derivatives & Hedge Funds Vol. 15, No. 4, pp. 288-303 Hagiu, A. (2008) “Financial instruments for risk management in international financial markets” Acta Universitatis anubius. Œconomica No 1, pp.. 139–144