Question 1

Which of the following is true?

	If the market is semi-strong from efficient then the market is weak form efficient
	If the market is strong form efficient then the market is not weak form efficient

	If the market is weak form efficient then the market is strong from efficient
	If the market is semi-strong from efficient then the market is strong form efficient

Question 2

If someone manage a fund worth $1,000,000 what is the maximum they would pay to earn an excess return of 0.3%?

	$0
	$300

	$333,333.33
	$3,000

Question 3

Which of the following is true?

	Technical analysis is the only way to earn excess returns when the market is strong form efficient
	Security selection increases in importance as markets become more efficient

	It is impossible to earn an excess return if the market is strong form efficient except by luck
	Fundamental analysis is the only way to earn excess returns when the market is strong form efficient

Question 4

What is the correct description of the blue line in the chart below?

	Efficient reaction
	Delayed reaction

	Over reaction
	Under reaction

Question 5

Can a company corporate insider trade stock in the company they work for?

	Yes, they can conduct illegal insider trading
	No, that would be informed trading

	No, that would be insider trading
	Yes, they can conduct legal insider trading

Question 6

Which of the following is true?

	October is known to produce large positive excess returns for small company stocks
	Tuesday has been noted for producing unusual negative average returns

	Market indexes tend to outperform professional money managers
	Short term stock price movements are easy to predict with accuracy

Question 7

Which of the following is true?

	One of the causes of the 2008 real estate market crash was a move to originate and distribute mortgages
	The stock market corrected upward in a shortly after the stock market crash of 1929

	The tulip bulb craze began during the roaring 1920s
	The Nikkei index has experience a bull market for the decades after the 1990 crash and trades well above the pre-crash level

Question 8

Which of the following is true?

	Females tend to trade more than males
	People consistently make the same choices regardless of how decisions are framed

	People are more likely to participate in retirement programs when their participation choice is framed as opt out
	When using representative heuristics, people underestimate the probability of rare events

100 90 80 - 70 60 0 6 3 6 Days relative to news announcement