题目
Which of the following statements regarding the Capital Asset Pricing Model is least accurate?
选项
A.It relies on the existence of a risk-free asset.
B.It is useful for determining an appropriate discount rate.
C.Its accuracy depends upon the accuracy of the beta estimates.
D.It is when the security market line (SML) and capital market line (CML) converge.
答案
D
解析
The CML plots expected return versus standard deviation risk. The SML plots expected return versus beta risk. Therefore, they are lines that are plotted in different two-dimensional spaces and will not converge.CML绘制了预期收益与标准差风险的关系图。 SML绘制了预期收益与beta风险的关系图。 因此，它们是在不同的二维空间中绘制且不会收敛的线。