单项选择题

When an investor can borrow and invest at the risk-free rate, which of the following statements is NOT valid

A. 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.
B. Any asset/portfolio lying below the CML is inefficient.
C. The x-axis measurement of risk is the standardized covariance.

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单项选择题Which of the following about correlation of two assets is TURE

A. The smaller correlation implies smaller risk reduction potential.
B. The smaller correlation implies greater risk reduction potential.
C. The larger correlation implies smaller risk reduction potential.

单项选择题The relationship between risk and return is such that:

A. investors increase their required rates of return as perceived risk increases.
B. investors decrease their required rates of return as perceived risk increases.
C. investors increase their required rates of return as perceived risk decreases.