With regard to differences and similarities between the CAPM and APT, which of the following statements are false? 1. CAPM requires the market portfolio to contain all risky assets; APT uses a market index as the benchmark portfolio. II. Both CAPM and APT assume investors have homogeneous expectations. 11I. CAPM applies only to diversified portfolios; APT applies to all assets which can be arbitraged. IV. CAPM assumes all investors are mean-variance optimisers; APT assumes the actions of large sophisticated investors move the market to equilibrium. V. Both CAPM and APT can be stated as either single-factor and multi-factor models. A. II, III and V only. B. II and V only. C. V only. D. IV and V only. E. I, II and III only. Clear my choice