QUESTION THREE

In the context of the efficient market hypothesis;

1. Describe the weak form, the semi-strong form and the strong form of capital market efficiency. (9 Marks)
2. Which form, if any, do you favor and why? (3 Marks)
3. In your opinion, in what form is our Zambian capital market and why. (4 Marks)
4. What should be done, if any, to bring it to the form you favour? (4 Marks)

[TOTAL: 20 MARKS]