单选题
Which of the following statements about bonds, indexes, markets, and market efficiency is FALSE ? A. A price-weighted index assumes the investor holds an equal number of shares of the stocks in the index. B. Tests of market efficiency find that stock exchange specialists derive above-average returns. C. The bulk of all bond trading takes place on organized exchanges.
【正确答案】
C
【答案解析】The bulk of all bond trading takes place in the over-the-counter bond markets.