Which statement(s) below is (are) accurate with respect to the Capital Asset Pricing Model? (Select all that apply)

Group of answer choices

CAPM is useful for encouraging diversification.

CAPM is severely flawed because it uses the wrong index.

CAPM can be improved by adding size, valuation, and possibly momentum factors to the analysis of relationships relative to the S&P 500 Index.

CAPM should not be used to find the required return.