单项选择题

Which of the following about a well functioning market is FALSE（）

A. numerous buyers and sellers are willing to trade at prices about and below the current price.
B. the current price of a security fully reflects all the information currently available about the security.
C. market participants can buy and sell quickly at a known price.

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单项选择题

Which of the following statements regarding capital market efficiency is TRUE（）

A. Study results generally do not support the strong form of the efficient market hypothesis.
B. Event studies and time series tests provide evidence that markets do not tend to be semistrong form efficient.
C. Corporate insiders and stock exchange specialists have monopolistic access to information that can be used to obtain positive abnormal returns.

单项选择题

Which of the following statements about efficient markets and indexes is FALSE（）

A. An unweighted index assumes that investors make and maintain an equal dollar investment in each stock in the index.
B. External efficiency means prices adjust rapidly to new information.
C. Efficient markets tests have found that stocks with high price-to-earnings ratios (P/E) tend to outperform stocks with low P/E ratios.