EMH Questions x2: Please Help

Narasimhan Jegadeesh and Sheridan Titman published their paper "Returns to buying winners at the Journal of Finance in 1993. They find that significant positive alphas can be obtained from strategies which buy past winning stocks- stocks that have performed well in the past- and sell past losing stocks stocks that have performed poorly in the past. Such trading strategy is typically referred as momentum strategy and has been widely adopted by many money managers. If momentum strategies are indeed able to generate positive alphas after adjusting for risks, which form of EMH is violated? and selling losers: Implications for stock market efficiency Select one: A. All of weak form, semi-strong form and strong form EMH B. Weak form EMH only C. Semi-strong form EMH only D. Strong-form EMH only E. None of weak form, semi-strong form and strong form EMH Executives, like CEO and CFO, of a listed company need to report their transactions in the listed stock of their company to the stock market regulators, and details of such transactions will be available on the regulatory website for viewing by anyone. A copy-cat strategy, which exactly copies the executives' transactions after they are disclosed on the regulatory website, is able to generate a positive alpha after adjusting for relevant risks. Which of the following statements is true? Select one: A. The profitability of the strategy violates the semi-strong form and strong form of EMH, but not the weak form of EMH B. The profitability of the strategy violates the strong form of EMH, but not the semi- strong form and weak form of EMH. C. The profitability of the strategy violates the weak form of EMH, but not the strong form and semi-strong form of EMH D. The profitability of the strategy violates the semi-strong form of EMH, but not the strong form and weak form of EMH. E. The profitability of the strategy violates the semi-strong form and weak form of EMH, but not the strong form of EMH