Session 13: Market Organization, Market Indices, and Market Efficiency Reading 55: Market Organization and Structure
LOS i: Describe the primary and secondary markets and explain how secondary markets support primary markets.
Which of the following statements about securities markets is least accurate?
A) |
A market that features low transactions costs is said to have operational efficiency. | |
B) |
Initial public offerings (IPOs) are sold in the secondary market. | |
C) |
In a continuous market, a security can trade any time the market is open. | |
IPOs are sold in the primary market. |