URGENT!!! (Corporate finance)

Check and explain the correct alternative:

1. The internal rate of return (IRR) is best described as:

a) Opportunity cost of capital

b) Time-weighted rate of return

c) Discount rate that equals the NPV to zero

d) None of the alternatives

2. If a researcher empirically testing a trading strategy using time series returns, finds statistically significant abnormal returns, then the more likely the researcher discovered: a) A market anomaly b) Evidence of market inefficiency c) A strategy that would produce abnormal future returns d) None of the above

3. If the markets are efficient in a semi-strong way, investment strategies that use fundamental analysis would generate abnormal returns that are: a) Negative b) Equal to zero c) Positive d) It depends on the economic cycle

4. In relation to market efficiency, if a company's share price reacts gradually to the publication of its annual report, it would indicate that the market in which the company operates is:

a) Efficient semi strong b) Subject to behavioral biases c) I would be receiving additional information about the company d) None of the above