问题
单项选择题
An analyst does research about assumption behind the Markowitz Portfolio Theory. A basic assumption behind the Markowitz Portfolio Theory is that utility curves for an investor:（）
A. demonstrate increasing marginal utility of wealth.
B. are a function of expected returns and expected variance of returns only.
C. are a function of expected returns on the risk-free asset and the market portfolio.
答案
参考答案：B
解析：
根据马柯威茨投资组合理论(Markowitz Portfolio Theory)，假设财富的边际效用是递减的，而不是递增的，风险加大后需要更高的收益进行补偿。效用曲线是预期收益和方差的方程。选项C是资本市场线(CML)。