Which of the following tests are NOT used to examine the weak form of the efficient market hypothesis Those that examine:（）
A: whether security returns are independent over time.
B: a security’s return relative to the market return.
C: whether excess returns can be obtained from using mechanical trading rules.
A: whether security returns are independent over time.
B: a security’s return relative to the market return.
C: whether excess returns can be obtained from using mechanical trading rules.
举一反三
- An analyst does research about market efficiency. Which of the followings is most likely used to test the semi-strong form efficient market hypothesis（） A: Event studies. B: Serial correlation in security return. C: Trading on nonpublic information.
- Which category of tests assumes that, in an efficient market, securities lie on the security market line A: Event studies. B: Cross-sectional tests. C: Time-series tests.
- The covariance of the market"s returns with the stock"s returns is 0.007 and the standard deviation of the market"s returns is 0.15. What is the stock"s beta A: 0.23 B: 0.31 C: 0.57
- Which of the following would NOT be a reason for market, industry, and company analysis（） A: Firms within a given industry perform differently. B: The market is generally a very important component of security returns. C: Single industries perform consistently over time.
- Which of the following belong to financial markets, which facilitate the exchange of liquid assets? A: security market B: stock market C: insurance market D: futures market