答案和详解如下！
The correct answer was C) The backward bend in the efficient frontier is due to less than perfect correlation between portfolio assets. The efficient frontier has the shape noted above because there are no perfectly positively correlated assets or perfectly negatively correlated assets. The other choices are incorrect. The optimal portfolio for each investor is on the highest indifference curve that is tangent to the efficient frontier. Thus, portfolios A and B are both optimal portfolios, but for different investors. In addition, any portfolio on the efficient frontier is superior to one that is not. Thus, Investor X would not be better off with Portfolio C (this portfolio is on a lower indifference curve and has more risk.) Investor X has a steep indifference curve, indicating that he is risk-averse. Flatter curves, such as those for investor Y, indicate a less risk-averse investor. This question tested from Session 12, Reading 50, LOS g | 
发表于 2008-5-10 16:01
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