Portfolio diversification is least likely to protect against losses:
A. During severe market turmoil.
B. When markets are operating normally.
C. When the portfolio securities have low return correlation.
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According to Markowitz portfolio theory:
A. Combining any two risky assets in a portfolio will reduce unsystematic risk compared to a portfolio holding only one of the two risky assets.
B. Adding a risky stock to a （less risky） bond portfolio can decrease portfolio risk.
C. A portfolio with the minimum risk for its level of expected return lies on the efficient frontier.
Total risk equals:
A. Unique plus diversifiable risk.
B. Market plus nondiversifiable risk.
C. Systematic plus unsystematic risk.
A stock with a beta of 0.7 currently priced at $50 is expected to increase in price to $55 by year-end and pay a $1 dividend. The expected market return is 15%, and the risk-free rate is 8%. The stock
A. overpriced,so do not buy it.
B. underpriced,so buy it.
C. Properly priced,so buy it.
Which of the following would most likely lead to an increase in a typical firms capital investment for the current period？
A need to increase inventory.
B. An increase in the firms expected marginal tax rate.
C. A decrease in the market value of the firms debt.
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