As time goes on, we expect the SML:
A. to change slope to reflect different investment opportunities in the markets.
B. to change level to reflect changes in risk aversion among investors.
C. to change level and slope depending on the economic conditions prevailing.
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一种调料的原材料由下列5种物质组成：F、C、H、J、K。配方可以是其中两种或两种以上的原材料混合在一起，但必须遵守下列规则：(1)有F必有H，且1份F必有2份H。(2)有G必有J，且G、J等量。(3)H和J不共用。(4)J和K不共用。(5)有K必然得到K的量比其他所有的量都大。 以下哪一个调料配方可以通过去掉一种原材料的一部分或全部后使其合乎规则
A. 1份F，1份G，1份H，4份K。
B. 1份F，2份H，1份J，4份K。
C. 1份F，1份G，1份J，1份K。
D. 2份F，2份H，1份J，2份K。
E. 1份F，2份C，3份J。
Which of the following statements about investment constraints is FALSE
A. Diversification efforts can increase tax liability.
B. Investors concerned about time horizon are not likely to worry about liquidity.
C. Tax deferral usually makes more sense for the young than for the old.
The manager of the Fullen Balanced Fund is putting together a report that breaks out the percentage of portfolio return that is explained by the target asset allocation, security selection, and tactical variations from the target, respectively. Which of the following sets of numbers was the most likely conclusion for the report
A. 90%, 6%,4%.
B. 50%,25%,25%.
C. 33%, 33%, 33%.
When an investor can borrow and invest at the risk-free rate, which of the following statements is least likely valid
A. The capital market line (CML) is straight.
B. Investors who borrow the risk-free asset to lever their portfolio will move their portfolios to the right of the market portfolio on the CML.
C. The x-axis measurement of risk is the standardized covariance.
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