1.A market that is not semistrong-form efficient is necessarily _____.

weak-form efficient

not weak-form efficient (wrong)

strong-form efficient

not strong-form efficient

2. What are examples of market anomalies?

Check all that apply:

January effect

Post-earnings announcement drift

Beta effect

Small-firm effect

3. What are possible factors that limit arbitrage?

Check all that apply:

Lack of funds

Noise trader risk

Low expected returns

Trading and transaction costs

Firm-specific risk