单选题 An analyst does research about the capital asset pricing model and gathers the following information about a security and the market portfolio:
Beta of the security 1.25
Market portfolio premium 8%
Risk-free rate 3%
Based on the CAPM, the security's expected return is closest to:
A. 9.25%
B. 11.00%
C. 13.00%

【正确答案】 C
【答案解析】[解析] 必要收益率=Risk-free rate+Beta of the security×Market portfolio premium=3%+1.25×8%=13%。题目中已经给出了市场组合溢价，它已经是用市场组合的回报率减去无风险收益率后的值，直接代入计算即可。