Arithmetic Overflow vs. Arithmetic Carry

Question

One of my lecture slides gives an example of arithmetic overflow and carry in a topic for conditional branching flags on an ARM chip, quoted below:

• V (overflow) - 

Answer 1

• Overflow flags get set when the register cannot properly represent the result as a signed value (you overflowed into the sign bit).
• Carry flags are set when the register cannot properly represent the result as an unsigned value (no sign bit required).