If all the financial securities follow simple factor CAPM, which of the following

statements is $($are$)$ correct?

Each financial asset should have an identical reward per unit of beta.

A security$\text{'}$s systematic risk is higher than the market when its beta is larger than

one.

Securities with higher total risks should have higher required returns.

In equilibrium, all the securities$\text{'}$ abnormal returns should be positive.

In equilibrium, the passive strategy is not efficient.