N4

Empirical tests do not support the strong form of the efficient market hypothesis. O TRUE O FALSE. QUESTION 14 Over the long term, the capital gain on most stocks have exceeded their dividend income. O TRUE O FALSE. QUESTION 15 Although bear markets on average occur about once a decade, the timing of bear markets is very hard to predict. True False QUESTION 16 To the extent that stock prices follow a random walk, the history of prices has predictive power. TRUE FALSE