[{"data":1,"prerenderedAt":26},["ShallowReactive",2],{"q-sitca_invest-115-2-019":3},{"exam":4,"examName":5,"chapterSlug":6,"question":7,"related":21},"sitca_invest","投信投顧業務員資格測驗——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":17,"explanation":19,"difficulty":20},"sitca_invest-115-2-019","115-2",19,"有關動能投資策略(Momentum Investment Strategy)與反向投資策略(Contrarian Investment Strategy)之敘述，何者「正確」？甲.買賣策略相同；乙.均假設市場不具效率；丙.均強調基本分析",[13,14,15,16],"僅甲","僅乙","僅甲與丙","僅乙與丙",1,"效率市場假說","動能策略是追漲殺跌，買進過去一段期間表現強勢的股票、賣出弱勢股，認為既有趨勢會延續；反向策略正好相反，買進過去的輸家、賣出過去的贏家，賭的是價格終將回歸均值。甲敘述錯誤，兩者的買賣方向恰恰相反。乙敘述正確——若市場符合弱式效率，歷史價格資訊已完全反映在股價上，單靠過去報酬排序不可能持續賺到超額報酬，因此這兩種策略都必須建立在市場不具效率的前提上。丙敘述錯誤，兩者都以過去的價格與報酬表現作為選股依據，運用的是歷史價量資訊，並不強調財務報表與產業前景的基本分析。只有乙正確，故選 (B)。","hard",[22],{"id":23,"question":24,"qno":25},"sitca_invest-115-1-021","某投資人在前一季的期貨交易中連續虧損，之後對任何高風險投資都變得極度謹慎，甚至連報酬穩定的商品也不敢投入。這種在經歷損失後對風險產生過度畏懼的行為，最能以哪一種行為財務理論解釋？",21,1785904155693]