Download 10010 Ask Al Market Efficiency (No Arbitrage Condition "getting risk for return" = Earning money for free).........1 A no arbitrage condition * Degrees of efficiency based on information set. 1 Timing or gambling 1 IF expected NPV of zero = expected return is equal to required return (risk) Fairly Valued. Security price adjustments. Common Stock. Preferred Stock. 1 Bonds. HPR Topic 2 - Time Value of Money Interest. Classifications. 1 out of 46 QQ Download