2025 CFA Level I Exam: Topic 5. Equity Investments - Learning Module 3. Market Efficiency

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	1. The Concept of Market Efficiency describe market efficiency and related concepts, including their importance to investment practitioners contrast market value and intrinsic value explain factors that affect a market's efficiency
	2. Forms of Market Efficiency contrast weak-form, semi-strong-form, and strong-form market efficiency explain the implications of each form of market efficiency for fundamental analysis, technical analysis, and the choice between active and passive portfolio management
	3. Market Pricing Anomalies describe market anomalies
	4. Behavioral Finance describe behavioral finance and its potential relevance to understanding market anomalies

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