[{"data":1,"prerenderedAt":46},["ShallowReactive",2],{"q-sec_invest-115-1-009":3},{"exam":4,"examName":5,"chapterSlug":6,"question":7,"related":22},"sec_invest","證券商業務員資格測驗——證券投資與財務分析","c7",{"id":8,"exam":4,"session":9,"qno":10,"question":11,"options":12,"answer":17,"chapter":18,"freq":19,"explanation":20,"difficulty":21},"sec_invest-115-1-009","115-1",9,"有關使用濾嘴法則進行投資決策，下列何者有誤？",[13,14,15,16],"不追求在最低點買進、最高點賣出","在股價上漲後回跌一定比率時賣出，以及在股價下跌後反彈一定比率時買進","若濾嘴法則有效，則表示市場符合半強式效率假說","在市場波動及漲跌幅小時，可能因交易過於頻繁而導致交易成本過高",2,"效率市場假說",1,"濾嘴法則是純粹依據過去股價漲跌幅度即價量資訊設定買賣門檻的技術操作。若這種只用歷史價格的方法真能持續獲利，代表市場連「弱式效率市場假說」都不成立，因為弱式效率主張過去價量已充分反映在股價、技術分析應無效，而非符合半強式效率，故(C)敘述有誤、為本題答案。(A)不追求買在最低賣在最高、(B)漲後回跌一定比率賣出與跌後反彈一定比率買進、(D)在盤整小波動時因頻繁進出而墊高交易成本，這三項對濾嘴法則的描述都正確。關鍵在於效率市場三層級及其否證邏輯。","medium",[23,27,31,35,39,43],{"id":24,"question":25,"qno":26},"sec_invest-114-3-014","公司內部人員無法藉由內線消息而獲取超額報酬時，表示此時市場屬於：",14,{"id":28,"question":29,"qno":30},"sec_invest-114-3-023","下列敘述何者為效率市場的定義？",23,{"id":32,"question":33,"qno":34},"sec_invest-115-1-010","行為財務學認為多數人非理性，而是有框架相依(framing dependence)的行為偏誤。所謂框架相依是指：",10,{"id":36,"question":37,"qno":38},"sec_invest-115-1-021","買跌賣漲指的是下列何種投資策略？",21,{"id":40,"question":41,"qno":42},"sec_invest-115-1-022","實證研究發現，不論是否為專業或業餘投資人，當他們回想其投資的共同基金的績效時，都會高估其真正的績效。這可用何理論解釋？",22,{"id":44,"question":45,"qno":30},"sec_invest-115-1-023","行為財務學指出，投資人誤以為容易聯想到的事件會較常發生，這種傾向稱為：",1787293956106]