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.

A. I only

B. II only

C. I and II only

D. II and III only

E. II, III, and IV only