Use the Following Three Statements to Answer This Question

Multiple Choice

Use the following three statements to answer this question:

A) I, II, and III are correct.
B) I, II, and III are incorrect.
C) I and III are correct and II is incorrect.
D) I is incorrect, II and III are correct.
I.The CML must always be upward sloping,and it predicts required returns.
II.The CML is based on expected rates of return,so it is ex post.
III.The CML slope is the Sharpe ratio.