Question

Risk associated with a portfolio is always less than the weighted average of risks of individual items in the portfolio due to _______                              
I.        Diversification of risks                            
II.        The fact that all accounts in a portfolio have different Beta                           
III.        The fact that risks in all the accounts in a portfolio will not materialize simultaneously

A Only i
B i and ii
C i and iii
D ii and iii
E all of the above
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