(ix) An efficient market is defined as one in which: (1 mark) A B C D all participants have the same opportunity to make the make the same returns. all participants have the same legal rights and transactions costs. securities' prices quickly and fully reflect all available information. securities' prices are completely in line with the intrinsic value. (x) The highest level of market efficiency is A weak form efficiency. B semi-strong form efficiency. C random walk efficiency. D strong form efficiency. [1 Mark] [1 Mark] (xi) Suppose the return from an investment has the following probability distribution. Return (%) Probability Expected values 8 0.2 1.6 10 0.2 2.0 12 0.5 6.0 14 0.1 1.4 If the expected return of the investment is 11%, assess the risk(standard deviation) of the investment? A 1.48% B 1.84% C C 3.4% D 4.3% [2 marks]