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Why is it that buying or selling financial securities in an efficient market is a zero NPV investment? Choose all that apply. Multiple select question.
Why is it that buying or selling financial securities in an efficient market is a zero NPV investment? Choose all that apply.
Multiple select question.
Financial securities are priced at their true value and investors cannot make excess profit from the transaction.
The price of all financial securities is predetermined by the credit rating agencies.
The price of all financial securities is determined by the Treasury bill rate which is riskfree.
The price of a financial security in an efficient market is the present value of the expected future cash flows.
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