1. Which of the following are inconsistent with the semi-strong form of the efficient market hypothesis?

a. The January effect

b. Small firm effect

c. Mean reversion

d. All of the above

e. Both a and b

2. Suppose a security's mean return is 1.50%. On a particular day, the return on the market is 1.20% while the return on the security is 1.85%. Calculate the mean adjusted abnormal return.

a. 0.30%

b. 0.35%

c. 0.65%

d. None of the above

3. Suppose a security's mean return is 1.50%. On a particular day, the return on the market is 1.20% while the return on the security is 1.85%. Calculate the market adjusted abnormal return.

a. 0.30%

b. 0.35%

c. 0.65%

d. None of the above