1. Explain briefly ( in one or two sentences) why the following assertion is FALSE? The risk-reducing benefits of diversification do not occur until at least 15-20 in- dividual securities have been purchased. 1. Explain briefly ( in one or two sentences) why the following assertion is FALSE? Proper diversification can always eliminate systematic risk. 1. Explain, in one or two sentences.why the following statement is FALSE The CAPM predicts that a security with a beta of 0 will offer zero expected return D 1. Explain, in one or two sentences,why the following statement is FALSE Investor demand higher expected return from stocks that are highly exposed to macroeconomic risks