NO.PZ2015122801000067
问题如下：
Ann, CFA, believes that active portfolio management strategy may perform better than passive index tracking strategy consistently over time. According to the market efficiency theory, which of the following financial market conditions will Ann agree?
选项：
A.Semi-strong form efficient.
B.Weak-form efficient.
C.Strong-form efficient.
解释：
B is correct.
According to the market efficiency theory, portfolio managers cannot beat the market on a consistent basis if securities markets are semi-strong-form efficient. And active portfolio management should outperform passive portfolio management under weak-form efficient market.
有效市场假说不是说当证券市场是weak-form时，主动投资is not likely to generate abnormal return么？
