Answer:
A. in market efficiency, he or she is likely to be a passive portfolio manager D. A and B B. that he or she can accurately predict interest rate changes, he or she is likely to be an active portfolio manager
Explanation:
If a bond portfolio manager believes in market efficiency, he or she is likely to be a passive portfolio manager; and if he or she can accurately predict interest rate changes, he or she is likely to be an active portfolio manager.