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Which of the following is most likely a correct statement about the the CAPM model? I. Richard Roll, in his 1977 paper, largely supports CAPM,

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Which of the following is most likely a correct statement about the the CAPM model? I. Richard Roll, in his 1977 paper, largely supports CAPM, stating that it can be easily implemented in practice. II. CAPM applies to expected returns, instead of actual returns. III. It is difficult to find a truly diversified market portfolio, which is one of the key inputs in CAPM. 111 II and III I I and

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