Exhibit 9.1 Use the Information Below for the Following Problem(S)

Exhibit 9.1
Use the Information Below for the Following Problem(S)
(1) Capital markets are perfectly competitive.
(2) Quadratic utility function.
(3) Investors prefer more wealth to less wealth with certainty.
(4) Normally distributed security returns.
(5) Representation as a K factor model.
(6) A market portfolio that is mean-variance efficient.
-Refer to Exhibit 9.1.In the list above,which are not assumptions of the Arbitrage Pricing model?

A) (1) and (3)
B) (1) , (2) , and (3)
C) (1) , (2) , and (5)
D) (2) , (4) , and (6)
E) All six are assumptions