- CFA Exams
- CFA Level I Exam
- Study Session 12. Equity Investments (1)
- Reading 36. Market Organization and Structure
- Subject 8. Well-Functioning Financial Systems
CFA Practice Question
Which of the following attributes is least likely to be associated with the characteristics of a well-functioning securities market?
A. Wide bid-ask spreads
B. Market depth
C. Rapid adjustment of prices to new information
Explanation: Wide bid-ask spreads are not a characteristic of a well-functioning market.
User Contributed Comments 1
| User | Comment |
|---|---|
| Inaganti6 | it's a sign of illiquidity |