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Basic Question 0 of 23
Which statement is true?
II. Arbitrage activities contribute to market efficiency.
I. Trading limitations contribute to market efficiency.
II. Arbitrage activities contribute to market efficiency.
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I am happy to say that I passed! Your study notes certainly helped prepare me for what was the most difficult exam I had ever taken.
Andrea Schildbach
Learning Outcome Statements
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
CFA® 2025 Level I Curriculum, Volume 3, Module 3.