es/_359154_1/d/outline maining Time: 2 hours, 05 minutes, 10 seconds. vention Completion Status: QUESTION 20 If the markets are efficient, the price of a security should reflect all information that has an affect on its value. True False QUESTION 21 If financial markets are efficient, how likely is it for someone reading the published annual reports of companies, which come out in February/March or later of the following year, to use this information to consistently select stocks that outperform the market? a. If the market is strong form efficient they should be able to do this. b. Since annual reports contain a review of what happened to the company over a year ago, in an efficient market you should not be able to do this consistently C. Since annual reports contain only new, private information. When they are released to the public they contain Information that investors can profit from consistently d. None of the above es/_359154_1/d/outline maining Time: 2 hours, 05 minutes, 10 seconds. vention Completion Status: QUESTION 20 If the markets are efficient, the price of a security should reflect all information that has an affect on its value. True False QUESTION 21 If financial markets are efficient, how likely is it for someone reading the published annual reports of companies, which come out in February/March or later of the following year, to use this information to consistently select stocks that outperform the market? a. If the market is strong form efficient they should be able to do this. b. Since annual reports contain a review of what happened to the company over a year ago, in an efficient market you should not be able to do this consistently C. Since annual reports contain only new, private information. When they are released to the public they contain Information that investors can profit from consistently d. None of the above