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【单选题】
Which statement is true regarding the capital market line (CML)?I) The CML is the line from the risk-free rate through the market portfolio.II) The CML is the best attainable capital allocation line.III) The CML is also called the security market line.IV) The CML always has a positive slope.
A.
I only
B.
II only
C.
III only
D.
IV only
E.
I, II, and IV
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参考解析：
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举一反三
【单选题】The capital asset pricing model assumes ()
A.
all investors are price takers.
B.
all investors have the same holding period.
C.
investors have homogeneous expectations.
D.
all investors are price takers and have the same holding period.
E.
all investors are price takers, have the same holding period, and have homogeneous expectations.
【单选题】The security market line (SML) is
A.
the line that describes the expected return-beta relationship for well-diversified portfolios only.
B.
also called the capital allocation line.
C.
the line that is tangent to the efficient frontier of all risky assets.
D.
the line that represents the expected return-beta relationship.
E.
All of the options.
【单选题】Assume that a security is fairly priced and has an expected rate of return of 0.17. The market expected rate of return is 0.11, and the risk-free rate is 0.04. The beta of the stock is ()
A.
1.25.
B.
1.86.
C.
1.
D.
0.95.
【单选题】The amount that an investor allocates to the market portfolio is negatively related to ()I) the expected return on the market portfolio.II) the investor's risk aversion coefficient.III) the risk-free ...
A.
I and II.
B.
II and III.
C.
II and IV.
D.
II, III, and IV.
E.
I, III, and IV.
【单选题】In a well-diversified portfolio, ()
A.
market risk is negligible.
B.
systematic risk is negligible.
C.
unsystematic risk is negligible.
D.
nondiversifiable risk is negligible.
【单选题】The risk-free rate is 5%. The expected market rate of return is 11%. If you expect stock X with a beta of 2.1 to offer a rate of return of 15%, you should ()
A.
buy stock X because it is overpriced.
B.
sell short stock X because it is overpriced.
C.
sell short stock X because it is underpriced.
D.
buy stock X because it is underpriced.
E.
None of the options, as the stock is fairly priced.
【单选题】A "fairly-priced" asset lies ()
A.
above the security-market line.
B.
on the security-market line.
C.
on the capital-market line.
D.
above the capital-market line.
E.
below the security-market line.
【单选题】The CAPM applies to ()
A.
portfolios of securities only.
B.
individual securities only.
C.
efficient portfolios of securities only.
D.
efficient portfolios and efficient individual securities only.
E.
all portfolios and individual securities.
【单选题】You invest 50% of your money in security A with a beta of 1.6 and the rest of your money in security B with a beta of 0.7. The beta of the resulting portfolio is ()
A.
1.40.
B.
1.15.
C.
0.36.
D.
1.08.
E.
0.80.