单选题 Which of the following statement best described the efficient frontier? It is the set of portfolios that has :

A、 the minimum risk for every level of return.
B、 the maximum return for each level of beta based on the capital asset pricing model.
C、 the maximum excess rate of return for every given level of risk.

【正确答案】 A

【答案解析】The efficient frontier represents that set of portfolios having the maximum rate of return for every given level of risk, or the minimum risk for every given level of return.