Which two of the following five statements are correct?

Select two alternatives:

• Because very little trading is required to maintain it, an equal-weighted portfolio is called a passive portfolio.

• The firm's unlevered (asset) beta is the weighted average of the levered beta and the equity beta.

• A value-weighted portfolio is an equal-ownership portfolio: We hold an equal fraction of the total number of shares outstanding of each security in the portfolio.

• Beta measures the diversifiable risk of a security, as opposed to its market risk, and is the appropriate measure of the risk of a security for an investor holding the market portfolio.

• The CAPM identifies the market portfolio as the efficient portfolio.