NO.PZ2024022701000108
问题如下:
A feature of an efficient market is that:
选项:
A.the market reflects all past and present information.
B.asset prices react to information that is fully anticipated.
C.an investor can earn consistent, superior, risk-adjusted returns.
解释:
Solution-
Correct because an efficient market is thus a market in which asset prices reflect all past and present information.
-
Incorrect because in an efficient market, prices should be expected to react only to the elements of information releases that are not anticipated fully by investors—that is, to the “unexpected” or “surprise” element of such releases.
-
Incorrect because consistent, superior, risk-adjusted returns (net of all expenses) are not achievable in an efficient market.
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Fully anticipated?在这句话里的具体意思是指?