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Which of the following statements regarding market efficiency is correct? Semi-strong form of efficiency means security prices only reflect information found in past prices. If

Which of the following statements regarding market efficiency is correct?

Semi-strong form of efficiency means security prices only reflect information found in past prices.

If the market is strong form efficient, you cannot make abnormal returns using insider information.

Test of serial correlation of returns is used to test the semi-strong form of market efficiency.

In an efficient market all investors are rational

None of the above.

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