单项选择题

Which of the following statements about the efficient market hypothesis is FALSE

A. Exchange specialists derive above-average returns from private information.
B. Runs tests are used to test the weak form of the efficient markets hypothesis.
C. Efficient markets tests have found that professional money managers, as a group, have consistently outperformed the market.

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单项选择题Which of the following statement about weighting schemes used in constructing stock market indexes is FALSE

A. The Nikkei Dow is a price-weighted index.
B. The Standards and Poor’s indexes are market value-weighted indexes.
C. A market-weighted index automatically adjusts for stock splits.

单项选择题The Dow Jones Industrial Average accounts for stock splits by:

A. multiplying the index by the stock split ratio.
B. reducing the market capitalization of the stock experiencing the split.
C. increasing the weighting of the stock experiencing the split.