Question 24 Not yet answered Marked out of 6.00 Flag question. ANSWER ALL OF THE FOLLOWING: (a) Discuss the expected return-beta relationship. Explain the significance of SML (security market line) in light of this above- mentioned relationship. (b) When comparing portfolios that plot on the security market line (SML) to those that plot on the capital market line (CML), a financial analyst would most accurately state that portfolios that lie on the SML: 1) have only systematic risk, while portfolios on the CML have both systematic and unsystematic risk. II) are not necessarily well-diversified, while portfolios on the CML are well diversified. III) are not necessarily priced at their equilibrium values, while portfolios on the CML are priced at their equilibrium values. Select one option from the above statements and explain why that's the most accurate. Paragraph Y BIEE & C