单选题 Which of the following is least likely an implication of risk aversion for the investment process? A. The capital market line (CML) is upward sloping. B. The security market line (SML) is upward sloping. C. The promised yield on AAA bonds is higher than on A bonds.

【正确答案】 C

【答案解析】Risk aversion implies that investors require a higher return to induce them to accept greater risk. Triple A-rated bonds are less risky than single A-rated bonds, which does not follow the logic behind the concept of risk aversion.