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/ y- s- {) y8 K" H' X+ cQuestion 86) q+ n/ R; O% f) x: K: I
$ ?6 G9 O B& f% sWhich of the following statements about tests of the efficient market hypothesis (EMH) is most accurate?
& _$ k+ p0 R7 v, B hA) The results of statistical and trading rule tests support the weak form of the EMH.
- o; k* i- N% o# m& \2 |; HB) All three forms of the EMH are supported by the fact that no documented market anomalies have persisted over time.4 j4 f+ e0 b% f, \/ z
C) The superior historical performance of exchange specialists and corporate insiders is consistent with the strong form of the EMH.
: q" |7 F* R* d* c9 R( ~& qD) Cross-sectional tests of market efficiency based on price-earnings ratios, analyst coverage, and book-to-market values generally support the semi-strong form of the EMH./ W0 L* Q4 f! u. s; r/ U1 s; U
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答案和详解如下:6 ^( q8 V& `5 O( Z* {$ V# n a
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Question 87
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8 e' y' l# x: x9 H3 C! |$ bAs a population increases in average age, there is significant growth in the health care industry and developers of retirement communities. This is best described as an example of which type of structural economic change?& m1 g3 K/ N, W; n4 k- _# s$ r4 l9 @
A) Lifestyles.. H0 }) j0 T/ o/ ^. K9 Z1 f4 o4 e
B) Technology.' @! R0 |9 d) m, q8 N
C) Politics and regulation.
: V) \' I6 I8 YD) Demographics.4 T/ ? ]# N. w( F. k
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答案和详解如下:
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Question 88
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The most attractive investment opportunities when the economy is slowing and entering a recession are:
D. f- ^8 z; N# n2 d* a/ q$ \A) commodities and commodity-producer stocks.
) Y. Y; V8 x& u" y7 A1 _! dB) stocks and commercial property.' m- l% f6 f* c; b' E
C) cyclical stocks and bonds.
" z$ y3 X: L5 N, o& S7 B" @D) bonds and interest-sensitive stocks., B* ]1 Z* b% Y% H* e/ b
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答案和详解如下:3 f2 r! f' k; e" G
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Question 89- }: j& v- q: d. N4 R1 ^
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Which of the following statements regarding orders in exchange markets is least accurate?
% I1 B8 X) `( o9 x) ?1 }8 d' l" t+ G8 `A) In a short sale, a trader borrows stock and sells it.
# o( ]4 @4 S' c. Z) `" O1 ?3 x: F* }B) A limit sell order is an order to sell at a price greater than the limit price.1 S2 d d7 F: q! i; e
C) A stop buy order is an order to purchase a stock if the price falls to the stop price.4 B5 J6 A. d7 N* O
D) A stop buy order can be combined with a short sale to limit losses.2 M! c8 x" H5 Y& ~$ D
+ Y. N+ c( k: J) x答案和详解如下:) u$ x) j4 k; Z2 j4 v
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9 t* Z9 I) r( o/ v; S2 _( O( YQuestion 90
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An industry has the following characteristics:
) i( P) G% ?: {$ g3 v/ X3 hSales growth is near the average growth rate of the economy., O4 h1 c9 e( w% E, S
Profit margins are narrow.
4 f- v+ z' ^+ j2 [9 bReturn on equity is close to the economy-wide average.& s: T* H% `9 T* @ d0 X
This industry is most likely in which phase of its life cycle?& ] O* x) X+ B& q! q3 x3 K$ a) f
A) Deceleration of growth and decline.
* R& t9 o0 v8 [- v8 A6 rB) Stabilization and market maturity.
3 G) ^+ g" z* Q) v% r: LC) Mature growth.
: V+ p2 o% T7 w1 W& M* cD) Pioneering.1 q5 ]0 d& v* P+ l( U
: b# s8 J4 m# }5 B% ~5 }- o2 A答案和详解如下:2 U- X' b& J- t4 a, w+ K
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发表于 2015-7-20 09:03:14
