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If anomaly evidence supports stock-price momentum at 6-12 month horizons, it most directly contradicts the:
AWeak form of market efficiency
BStrong form of market efficiency
CSemi-strong form of market efficiency
DRandom walk in the very long run only
Answer & Solution
Correct answer: A. Weak form of market efficiency
1. Identify what the question asks: this concept maps to marketanomalies (§4.7).
2. Apply the framework or formula relevant to the topic.
3. Eliminate distractors and arrive at the correct option (A).
_Source: ICAI BoS CA Final Paper 2, Ch 4 "Security Analysis"_
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