investments 10E 10th edition bodie Test Bank 题库 TBChap011

《investments 10E 10th edition bodie Test Bank 题库 TBChap011》由会员上传分享，免费在线阅读，更多相关内容在教育资源-天天文库。

1、Chapter11TheEfficientMarketHypothesis MultipleChoiceQuestions 1.Ifyoubelieveinthe________formoftheEMH,youbelievethatstockpricesreflectallrelevantinformationincludinghistoricalstockpricesandcurrentpublicinformationaboutthefirm,butnotinformationthatisava

2、ilableonlytoinsiders.  A. semistrongB. strongC. weakD. AlloftheoptionsE. Noneoftheoptions 11-107Copyright©2014McGraw-HillEducation.Allrightsreserved.NoreproductionordistributionwithoutthepriorwrittenconsentofMcGraw-HillEducation.2.WhenMauriceKendallexa

3、minedthepatternsofstockreturnsin1953,heconcludedthatthestockmarketwas__________.Now,theserandompricemovementsarebelievedtobe_________.  A. inefficient;theeffectofawell-functioningmarketB. efficient;theeffectofaninefficientmarketC. inefficient;theeffect

4、ofaninefficientmarketD. efficient;theeffectofawell-functioningmarketE. irrational;evenmoreirrationalthanbefore 3.Thestockmarketfollowsa  A. nonrandomwalk.B. submartingale.C. predictablepatternthatcanbeexploited.D. nonrandomwalkandpredictablepatternthat

5、canbeexploited.E. submartingaleandpredictablepatternthatcanbeexploited. 11-107Copyright©2014McGraw-HillEducation.Allrightsreserved.NoreproductionordistributionwithoutthepriorwrittenconsentofMcGraw-HillEducation.4.Ahybridstrategyisonewheretheinvestor  A

6、. usesbothfundamentalandtechnicalanalysistoselectstocks.B. selectsthestocksofcompaniesthatspecializeinalternativefuels.C. selectssomeactivelymanagedmutualfundsontheirownandusesaninvestmentadvisortoselectotheractivelymanagedfunds.D. maintainsapassivecor

7、eandaugmentsthepositionwithanactivelymanagedportfolio. 5.Thedifferencebetweenarandomwalkandasubmartingaleistheexpectedpricechangeinarandomwalkis______,andtheexpectedpricechangeforasubmartingaleis______.  A. positive;zeroB. positive;positiveC. positive;

8、negativeD. zero;positiveE. zero;zero 11-107Copyright©2014McGraw-HillEducation.Allrightsreserved.NoreproductionordistributionwithoutthepriorwrittenconsentofMcGraw-HillEducation.6.ProponentsoftheEMHtypicallyadvocate  A. anactivetradingstr