Which one of the following portfolios cannot lie on the efficient frontier as described by Markowitz?

Portfolio	Expected Return	Standard Deviation
A	10%	12%
B	5%	7%
C	15%	20%
D	12%	25%

A. unsystematic risk.

B. interest rate risk.

C. market risk.

D. reinvestment risk.

E. unique risk.

A. None of these is correct.

B. The point of tangency with the opportunity set and the capital allocation line.

C. The point of tangency with the indifference curve and the capital allocation line.

D. The point of highest reward to variability ratio in the opportunity set.

E. The point of the highest reward to variability ratio in the indifference curve

A. the assets have a correlation coefficient less than one.

B. the assets have a correlation coefficient equal to one.

C. the assets have a correlation coefficient equal to zero.

D. the assets have a correlation coefficient greater than zero.

E. the assets have a correlation coefficient less than zero

A. standard deviation of returns.

B. unique risk.

C. specific risk.

D. reinvestment risk.

E. beta

A. the portion of the investment opportunity set that lies above the global minimum variance portfolio.

B. both the portion of the investment opportunity set that lies above the global minimum variance portfolio and the portion of the investment opportunity set that represents the highest standard deviations.

C. the portion of the investment opportunity set which includes the portfolios with the lowest standard deviation.

D. the set of portfolios that have zero standard deviation.

E. the portion of the investment opportunity set that represents the highest standard deviations

A. 1.0% and 1.2%

B. 0.7% and 1.5%

C. 0.8% and 1.3%

D. None of these is correct.

E. 1.2% and 1.0%

A. the identification of unsystematic risk.

B. active portfolio management to enhance returns.

C. the elimination of systematic risk.

D. the elimination of unsystematic risk.

E. the effect of diversification on portfolio risk.