The risk-free rate is R_F =4%. The market portfolio has an expected return equal to E(R_M)=10% and standard deviation _M=20%.

22) Investors that want an expected return greater than 10% need to

a) leverage the market portfolio

b) invest 100% of their equity in the market

c) invest 100% in the risk-free asset

d) invest in both the market and the risk-free asset

23) Investors that want a standard deviation of less than 20% need to

a) leverage the market portfolio

b) invest 100% of their equity in the market

c) invest 100% in the risk-free asset

d) invest in both the market and the risk-free asset