What is the capital asset pricing model (CAPM)? What role does beta play in the model? What

Question:

What is the (CAPM)? What role does beta play in the model? What is the risk premium? How is the security market line (SML) related to the CAPM?
Capital Asset Pricing Model
The Capital Asset Pricing Model (CAPM) describes the relationship between systematic risk and expected return for assets, particularly stocks. The CAPM is a model for pricing an individual security or portfolio. For individual securities, we make use of the security market line (SML) and its...