Testbank, Question 28 x] Your answer is incorrect. Try again. A university professor is researching the impact of non-public information on the marketplace. She finds that investors who do have access to material, non-public information are consistently earning above-average risk-adjusted returns, and that the market price of the targeted securities are partially reflecting the new information. This is a violation of: I. Strong form market efficiency II. Semi-strong market efficiency III. Weak form market efficiency 0 I only I and II I and III O II and