Toss mozzarella with olive oil, salt, pepper and basil or rosemary, if using. Place in a mound on a platter.
Cut the hard cheese into thin, bite-size triangles, add to platter.
Arrange prosciutto next to cheese.
Cut pepper into strips, add to platter.
Add olives to platter.
Dress arugula with olive oil, balsamic vinegar, salt and pepper. Arrange in the center of the platter and serve.