3 Which of the following statements regarding the separation property in portfolio choice problems is true? 1 5 5 7 C 3 D A portfolio's risk is separated into the systematic and the idiosyncratic risk Determining the optimal portfolio and allocating between risky and risk-free are two separable tasks An investor minimizes the portfolio risk and, independently, maximizes the portfolio return The expected return of a portfolio is written with the portfolio's alpha and beta