单选题 An analyst does research about capital market line (CML). According to capital market theory, if an investor holds a portfolio that lies on the capital market line to the left of the market portfolio, that investor should expect that his portfolio will:
A. eam less than the return on the market portfolio.
B. earn more than the return on the market portfolio.
C. haveless unsystematic risk than the market portfolio.

【正确答案】 A
【答案解析】[解析] 如果投资组合在CML线的左边,说明其收益率小于市场组合的回报,比市场组合的总风险要小,而不是比市场组合的非系统性风险小。