Which of the following statements is FALSE? A. Our total volatility is only a fraction of the volatility of the efficient portfolio, based on the amount we invest in the risk-free asset. B. The volatility of the risk-free investment is zero. C. A portfolio that consists of a long position in the risk-free investment is known as a levered portfolio. D. The optimal portfolio will not depend on the investor's personal tradeoff between risk and return. Reset Selection