Which of the Following Statement(s)is(are)true Regarding the Selection of a Portfolio

Multiple Choice

Which of the following statement(s) is(are) true regarding the selection of a portfolio from those that lie on the Capital Allocation Line?

A) Less risk-averse investors will invest more in the risk-free security and less in the optimal risky portfolio than more risk-averse investors.
B) More risk-averse investors will invest less in the optimal risky portfolio and more in the risk-free security than less risk-averse investors.
C) Investors choose the portfolio that maximizes their expected utility.
D) a and c.
E) b and c.