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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Which of the following statements about return objectives is TRUE
A. To achieve the capital appreciation objective, the nominal rate of return must exceed the rate of inflation.
B. The total return objective considers returns from both capital gains and current income, net of expected inflation.
C. The current income objective is usually appropriate when an investor requires the purchasing power of the initial investment to increase over time.
Which of the following is not a characteristic of a portfolio located on the efficient frontier
A. the portfolio offers the highest possible return for its level of standard deviation.
B. the portfolio offers the highest possible risk for its level of return.
C. the portfolio offers the lowest possible risk for its level of return.
Which of the following statements about the security market line (SML) and capital market line (CML) is most accurate
A. The SML is a straight line, but the CML is a curve.
B. The SML involves the concept of a risk-free asset, but the CML does not.
C. The SML uses beta, but the CML uses standard deviation as the risk measure.
小王请小李、小夏、小田、小林、小黄到家里做客。而这五位被邀请做客的人却有着以下的关系： (1)要么小林来，要么小田来。 (2)如果小黄不来，那么小夏来。 (3)如果小李不来，那么小林也不来。 (4)如果小李来，那么小黄就不来。 现在，小林来了。那么。以下哪项成立
A. 小李和小夏来，其他的人不来。
B. 小李、小夏和小田来，其他的人不来。
C. 小黄和小夏来，其他的人不来。
D. 小李来，其他的人不来。
E. 小夏和小田来，其他的人不来。
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