1. The capital asset pricing model (CAPM) assumes which of the following? I. a risk-free asset has no systematic risk. II. beta is a reliable estimate of total risk. III. the reward-to-risk ratio is constant. IV. the market rate of return can be approximated. A. I and Ill only B. II and IV only C. I,III, and IV only D. II, III, and IV only E. I, II, III, and IV