QUESTION: 49

Which of the following is NOT true of chart patterns?

Speculators' habits have recurring impacts on markets and knowledge of this fact can be used to interpret chart patterns
Trading techniques found in trading literature may be a cause of repeated patterns
A price chart is a representation of human behavior
Quantitative studies have shown a direct relationship between market psychology of
behavior and chart formations

Answer(s): C

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QUESTION: 50

Which would be the MOST useful aspect of a cycle in studying the relationship between cycles of different lengths?

Phase
Period
Amplitude
None of the above

Answer(s): A

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In a meeting with his firm's senior research analyst, George Powel, a proponent of the CFA Institute Research Objectivity Standards (ROS), stated that the key objective of the ROS is to create voluntary reporting of

research practices that promote independent and objective research to CFA Institute on an annual basis. With regard to his statements about the objectives of the ROS.

he is correct.
he is incorrect.
He is correct about the voluntary reporting aspect.
He is correct about the independent and objective research aspect.

Answer(s): B

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QUESTION: 52

Which of the following is a true statement according to Elliott Wave Theory?

Wave four should not overlap wave one
The theory is composed of time, ratios and wave forms, in that order of importance
The theory was originally applied to individual stocks and does not work as well for
indices
The theory works best in commodity markets traded primarily by professional traders such agricultural futures

Answer(s): A

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QUESTION: 49

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QUESTION: 51

QUESTION: 52

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