Question Completion Status: QUESTION 22 An efficient portfolio is a portfolio that does which one of the following? O offers the highest return for the lowest possible cost O provides an evenly weighted portfolio of diverse assets O eliminates all risk while providing an expected positive rate of return O lies on the vertical axis when graphing expected returns against standard deviation O offers the highest return for a given level of risk QUESTION 23 A portfolio that belongs to the Markowitz efficient set of portfolios will have which one of the following characteristics? Assume the portfolios are comprised of five individual securities the lowest return for any given level of risk O the largest number of potential portfolios that can achieve a specific rate of return the largest number of potential portfolios that can achieve a specific level of risk a positive rate of return and a zero standard deviation the lowest risk for any given rate of return