Consider the concept of security analysis:

a) The basic motivation of security analysis is to help investors:

1) identify the best times to buy and sell securities.

2) contribute to the efficiency of securities markets.

3) identify securities whose intrinsic values are at or near their market values.

4) identify mispriced stocks.

5) identify lower risk stocks.

Explain your answer(s).

b) Fundamental analysis involves the in-depth study of the:

1) role of non-diversifiable risk in an investor's portfolio.

2) financial condition and operating results of a given firm.

3) pattern of security prices as revealed in chart formations.

4) role of diversifiable risk in an investor's portfolio.

Explain your answer(s).