单选题
Which of the following is NOT an implication of risk aversion for the investment process?
A. The security market line is upward sloping.
B. The promised yield on AAA-rated bonds is higher than on A-rated bonds.
C. Investors expect a positive relationship between expected return and expected risk.
A
B
C
D
【正确答案】
B
【答案解析】
AAA-rated bonds are generally perceived to be less risky than A-rated bonds and therefore offer lower returns.
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