I NEED THIS IN 15 MINUTES

With regard to market efficiency, identify the INCORRECT statement.

a.

Information is the central issue of the efficient markets concept.

b.

Tests of the usefulness of price data are semi-strong form tests.

c.

The most stringent form of market efficiency is the strong form.

d.

The efficient market concept does not require a perfect adjustment in price following new information.

All of the following are considered market anomalies EXCEPT:

a.

size effect

b.

earnings announcement anomaly

c.

January effect

d.

accounting changes effect

Which of the following is included in the realized compound yield?

a.

The bond coupon payments, only

b.

The bond principal payment, only

c.

The bond coupon and principal payments, only

d.

The bond coupon and principal payments and the reinvestment income

A portfolio is said to be immunized if:

a.

the present value of the cashflows is greater than the principal

b.

the duration of the portfolio is equal to the term

c.

the present value of the cashflows equals the principal

d.

the duration of the portfolio is equal to the investment horizon

Active bond management strategies include:

a.

Forecasting changes in interest rates, identifying abnormal yield spreads between bond sectors, and identifying relative mispricing between fixed income securities.

b.

Buy and hold bond investing.

c.

Ladder investing.

d.

Passive bond index investing.