A p-value of 0.03 at a 5% significance level means: A Fail to reject the null B Reject the null hypothesis (p < α) C The test is inconclusive D Accept the null ✓ Correct Answer: Option B Since 0.03 < 0.05, there is sufficient evidence to reject the null hypothesis. Practice CFA Exam Prep Quizzes → Browse All Questions Study Flashcards