20. Your elient, Bo Regard, bolds a complete portfolio that consists of a portfolio of risky assets (P) and T-Bills. The information below refers to these assets. E R) 12.00% 7.20% 3.60% Standard Deviation of P T-Bill rate Proportion of Complete Portfolio in P 80% 20% Proportion of Complete Portfolio in T-Bills Composition of P: Stock A Stock B Stock C Total 40.00% 25.00% 35.00% 100 00% What is the expected return on Bo's complete portfolio? A. 10.32% B. 5.28% C. 9.62% D. 8.44% E. 7.58% 21. The standard deviation of a portfolio of risky securities is A. the square root of the weighted sum of the securities' variances. B the square root of the sum of the securities' variances. C. the square root of the weighted sum of the securities' variances and covariances. D. the square root of the sum of the securities' covariances 22. Other things equal, diversification is most effective when A. securities' returns are uncorrelated B. securities' returns are positively correlated. C. securities' returns are high. D. securities' returns are negatively correlated. E. securities' returns are positively correlated and high