问题如下图：
选项：
A. 
B. 
C. 
解释：
NO.PZ2015122802000090 问题如下 With respeto efficient markets, a company whose share prichanges graally after the public release of its annureport most likely incates ththe market where the company tras is: A.semi-strong-form efficient. B.subjeto behaviorbiases. C.receiving aitioninformation about the company. is correct.If markets are efficient, the information from the annureport is reflectein the stoprices; therefore, the grachanges must from the release of aitioninformation.考点Efficient CapitMarket AnIts Forms这里的“graally”很重要，说明信息不是立即反应至价格的，因此市场不是有效的。价格在慢慢变化就说明还有其他信息。 题干With respeto efficient markets, a company whose share prichanges graally after the public release of its annureport most likely incates ththe market where the company tras is:以下理解正确吗？这题的关键词是graally。而有效市场对应的是“quickly和rationally”。
NO.PZ2015122802000090问题如下 With respeto efficient markets, a company whose share prichanges graally after the public release of its annureport most likely incates ththe market where the company tras is: A.semi-strong-form efficient.B.subjeto behaviorbiases.C.receiving aitioninformation about the company. is correct.If markets are efficient, the information from the annureport is reflectein the stoprices; therefore, the grachanges must from the release of aitioninformation.考点Efficient CapitMarket AnIts Forms这里的“graally”很重要，说明信息不是立即反应至价格的，因此市场不是有效的。价格在慢慢变化就说明还有其他信息。 老师，我对这章知识很蒙，有效市场就是不能获得超额收益对吗？那比如弱强中，有funmental是不能有效对吗？
NO.PZ2015122802000090 问题如下 With respeto efficient markets, a company whose share prichanges graally after the public release of its annureport most likely incates ththe market where the company tras is: A.semi-strong-form efficient. B.subjeto behaviorbiases. C.receiving aitioninformation about the company. is correct.If markets are efficient, the information from the annureport is reflectein the stoprices; therefore, the grachanges must from the release of aitioninformation.考点Efficient CapitMarket AnIts Forms这里的“graally”很重要，说明信息不是立即反应至价格的，因此市场不是有效的。价格在慢慢变化就说明还有其他信息。 有几个问题的回答是只要属于有效市场，无论三种中的哪一种，有一个新的消息释放，价格就会立刻变动。graally说明信息不是立即反应至价格的，因此市场不是有效的。缓慢变动说明除了年报信息，其实市场还有其他信息释放，才会造成价格一直在变动的状况。但同时也有回答是如果是半强有效，那么所有公开信息会立即反映在价格中，那从这道题来看，价格的调整是有延迟的，说明还能通过releaseinformation获取超额收益，那么说明市场最多弱势有效。前一个答案意思是缓慢反映表明不属于三种有效市场的任何一种，而后一个答案的意思是可以做到弱势有效。老师重新回答下可以么，到底是怎样的
NO.PZ2015122802000090问题如下 With respeto efficient markets, a company whose share prichanges graally after the public release of its annureport most likely incates ththe market where the company tras is: A.semi-strong-form efficient.B.subjeto behaviorbiases.C.receiving aitioninformation about the company. is correct.If markets are efficient, the information from the annureport is reflectein the stoprices; therefore, the grachanges must from the release of aitioninformation.考点Efficient CapitMarket AnIts Forms这里的“graally”很重要，说明信息不是立即反应至价格的，因此市场不是有效的。价格在慢慢变化就说明还有其他信息。 如果是price变化graally，那么为什么不是有偏的biases其次 如果是more informtion，那好的和坏的information导致价格变换的速度也不一致吧？
NO.PZ2015122802000090 subjeto behaviorbiases. receiving aitioninformation about the company. C is correct. If markets are efficient, the information from the annureport is reflectein the stoprices; therefore, the grachanges must from the release of aitioninformation. 考点Efficient CapitMarket AnIts Forms 这里的“graally”很重要，说明信息不是立即反应至价格的，因此市场不是有效的。价格在慢慢变化就说明还有其他信息。 但是半强有效是指所有公开信息都已披露，应该A也不能选吧？这只是一个公司的年报信息
