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Which one of the following is not an assumption of the capital asset pricing model (CAPM)? O a. The only relevant risk for security valuation

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Which one of the following is not an assumption of the capital asset pricing model (CAPM)? O a. The only relevant risk for security valuation is non-diversifiable risk (or systematic risk) O b. All investors are rational and risk averse Oc. Investors hold a variety of expectations about the probability distributions of future returns on all assets Od. The capital market is perfectly competitive

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