Which of the following statements about CAL (Capital Allocation Line) and SML (Security Market Line) is the least accurate?

Select one:

a. The market portfolio is on the SML with beta of 1.

b. Standard deviation is the measure of risk of CAL.

c. Beta is the measure of risk of SML.

d. The intercept of both CAL and SML is the risk-free return.

e. According to CAL, the weight of the risk-free asset in the portfolio must be non-negative.