2008 CFA Level 1 － Sample 样题(2)－Q43 black, class

bingning

43、A security market with price continuity is most accurately characterized as a market in which:

A. assets can be bought or sold quickly.

B. the cost of a transaction is minimized.

C. an asset's price reflects all available information about the asset.

D. prices do not change much from one transaction to the next in the absence of new information.

 
Correct answer = D

"Organization and Functioning of Securities Markets," Frank K. Reilly and Keith C. Brown
2008 Modular Level I, Vol. 5, pp. 6-7
Study Session 13-52-a
describe the characteristics of a well-functioning securities market
A well-functioning securities market should possess price continuity; prices should not change much from one transaction to the next unless substantial new information affecting a security's value becomes available. 

bingning

43、A security market with price continuity is most accurately characterized as a market in which:

A. assets can be bought or sold quickly.

B. the cost of a transaction is minimized.

C. an asset's price reflects all available information about the asset.

D. prices do not change much from one transaction to the next in the absence of new information.

[此贴子已经被作者于2008-11-7 13:19:38编辑过]

jadebaohui

thanks

bobbyguo

板凳

fatiger

k

刀剑如梦

写写

isaisaisa

d

leeh

up

oleander

d

tannyyu

sadsdasdasf