CFA Practice Question

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CFA Practice Question

Which of the following efficient market hypotheses maintains that all information is already impounded into the value of a security?

I. Weak form
II. Semi-strong form
III. Strong form
Correct Answer: III

User Contributed Comments 3

User Comment
Spawellian strong form efficient implies weak and semi hold also.
ilgibe The reverse doesn't hold.
johntan1979 Read the question carefully. "ALL INFORMATION". Although strong form INCLUDES semi-strong and weak, that doesn't mean the latter two applies to "ALL INFORMATION".
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