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Q8. Documented market anomalies include all of the following EXCEPT:
A) the ability for an investor to profit by buying stocks on Friday and selling them on Monday.
B) firms with only a small number of analysts following them have abnormally high returns.
C) the greater the ratio of book value/market value, the greater the risk-adjusted rate of return.
Q9. Which of the following conclusions about the semistrong form of the efficient market hypothesis (EMH) and the strong-form EMH is least accurate?
A) Some tests reject the semistrong form of market efficiency.
B) Neglected firms (i.e., those firms with a small number of analysts following them) tend to underperform the market.
C) If the strong form of market efficiency were true, there would be no need for insider trading laws.
Q10. Which of the following statements about the semistrong-form efficient market hypothesis (EMH) and the strong-form EMH is least accurate?
A) Tests have found that stocks with low price to earning (P/E) ratios tend to outperform stocks with high P/E ratios.
B) The "Heard on the Street" column in the Wall Street Journal appears to move stocks.
C) Small firms tend to underperform large firms on a risk-adjusted basis.
Q11. Which of the following statements about the efficient market hypothesis is least accurate?
A) Studies of market anomalies have found a positive return between the Friday close and the Monday open, known as the weekend effect.
B) The evidence suggests that stock markets are weak-form efficient.
C) Tests of independence in stock returns have found no autocorrelation.
Q12. Tests using quarterly earnings reports are tests of which form(s) of the efficient markets hypothesis (EMH)?
A) They are used to test all three forms.
B) Weak-form.
C) Semistrong-form.
Q13. The January Anomaly, the neglected firm effect, and the book value/market value ratio are studies examining which form of the EMH?
A) Semistrong-form of the EMH.
B) Weak-form of the EMH.
C) Both the weak and semistrong forms of the EMH.
Q14. Which of the following statements about efficient markets and indexes is least accurate?
A) Efficient markets tests have found that stocks with high price-to-earnings ratios (P/E) tend to outperform stocks with low P/E ratios.
B) If markets are efficient, investors should not trade often.
C) An unweighted index assumes that investors make and maintain an equal dollar investment in each stock in the index.
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发表于 2009-3-2 13:21
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