Which of the following is NOT true regarding risk and return?

Investors must be compensated for bearing the total risk of an asset.

Unsystematic risk of a portfolio can be diversified away by increasing the number of assets in the portfolio.

An asset's total risk (stand-alone risk) is measured as standard deviation of its returns.

Unsystematic risk of an asset is related to firm-specific events.

Systematic risk is related to industry and/or general market conditions.