Which of the following statements regarding capital market efficiency is most accurate? A) Study results generally do not support the strong form of the efficient market hypothesis. B) Event studies and time series tests provide evidence that markets do not tend to be semi-strong form efficient. C) Study results indicate the use of trading rules are able to consistently beat a buy-and-hold policy even when trading commissions are considered. D) Corporate insiders and stock exchange specialists have monopolistic access to information that can be used to obtain positive abnormal returns.

I guess it should be D) A) is formulated very broadly (not all studies confirm that!) B) talks about “markets” in general. C) says “consistently”, which sounds quite strong D) says “can be used to”, which is weaker and might be true.

D fosho.

I agree D. But A seem true likewise.

D…the problem with A is the word “generally”

D or A…i chose A at first… :frowning: