新用戶掃碼下載
掃碼下載APP
及時接收最新考試資訊及
備考信息
"Equity Investments":Efficient market
學習是一個不斷積累的過程，每天學習一點，每天進步一點！為了幫助大家更高效地備考2021年CFA考試，正保會計網(wǎng)校每日為大家上新CFA習題供大家練習。讓網(wǎng)校與您一起高效備考2021年CFA考試，夢想成真！
Questions 1:
An industry characterized by rising volumes, improving profitability, falling prices, and relatively low competition among companies is most likely in which of the following life-cycle stages?
A 、Growth
B 、Mature
C、 Embryonic
Questions 2:
Which of the following statements is most accurate in an efficient market?
A 、Active strategies will lead to excess risk-adjusted portfolio returns.
B 、Securities market prices fully reflect their fundamental values.
C 、Securities market prices respond over time to changes in economic information.
View answer resolution
【Answer to question 1】A
【analysis】
A is correct. An industry in growth stage is characterized by rising volumes, improving profitability, falling prices, and relatively low competition among companies.
B is incorrect. In the mature stage there will be little or no growth and relatively stable demand for products.
C is incorrect. In the embryonic stage there will be slowing growth and high prices.
【Answer to question 2】B
【analysis】
B is correct. In an efficient market, market participants will process available information, and those with opposite views will trade among each other until securities market prices fully reflect their fundamental values. An efficient market is thus a market in which asset prices reflect all past and present information.
A is incorrect. In an efficient market, securities market prices reflect their fundamental values, so opportunities for active strategies to achieve excess risk adjusted returns may not exist.
C is incorrect. An efficient market is a market in which asset prices reflect information quickly, not over time.
成功=時間+方法，自制力是這個等式的保障。世上無天才，高手都是來自刻苦的練習。而人們經(jīng)常只看到“牛人”閃耀的成績，其成績背后無比寂寞的勤奮。小編相信，每天都在勤奮練習，即使是一點點的進步，大家一定可以成為人人稱贊的“牛人”。
學員討論（0）
推薦閱讀
新用戶掃碼下載
京公網(wǎng)安備 11010802044457號
