Question 1) a. Explain the assertion that the relationship between the standard deviation on a portfolio and standard deviations of the assets in the portfolio is not a simple one. (5 marks) b. Briefly discuss the concept of the Security Market Line (SML), and explain why all assets must plot directly on it in a competitive market. (5 marks) c. The dividend debate is inconclusive and still on-going in the corporate world. In your view, briefly discuss some real world factors that may support the payment of high and low dividends. (10 marks)