a$)$ Answer True $($T$)$ or False $($F$)(3$ points$)$ F i$.$ If stock markets are not efficient, those without special skills can expect to outperform. T ii$.$ In an efficient market, lucky investors can outperform. T iii. Before costs, roughly half of the investors will beat the market with their realized returns. T iv$.$ In an efficient market, there can still be risk and popularity premiums. T v$.$ In classical finance investors are rational, and markets are efficient. T vi$.$ In behavioral finance, investors are emotional and make mistakes, and there is mispricing.