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Basic Question 10 of 13
Which of the following is true concerning an efficient market?
II. Market price adjustments are biased some of the time.
III. Market prices may over-adjust or under-adjust at times but adjustments are always unbiased.
I. Market prices never over-adjust.
II. Market price adjustments are biased some of the time.
III. Market prices may over-adjust or under-adjust at times but adjustments are always unbiased.
User Contributed Comments 3
| User | Comment |
|---|---|
| achu | Good question and an important concept. |
| todolist | Good Q |
| tomalot | Good comments |
I just wanted to share the good news that I passed CFA Level I!!! Thank you for your help - I think the online question bank helped cut the clutter and made a positive difference.
Edward Liu
Learning Outcome Statements
describe market efficiency and related concepts, including their importance to investment practitioners
contrast market value and intrinsic value
explain factors that affect a market's efficiency
CFA® 2024 Level I Curriculum, Volume 3, Module 3.