Which of the following statements is (are) true?

I) Risk-averse investors reject investments that are fair games.

II) Risk-neutral investors judge risky investments only by the expected returns.

III) Risk-averse investors judge investments only by their riskiness.

IV) Risk-loving investors will not engage in fair games.

Choose from the options below:

a) I only

b) II only

c) I and II only

d) II and III only

e) II, III, and IV only