QUESTIONS 115 THROUGH 120 RELATE TO PORTFOLIO MANAGEMENT.

120. For an investor borrowing money at the risk-free interest rate to invest in the

market portfolio, the estimated rate of return of his portfolio is most likely to:

A. increase.

B. decrease.

C. remain unchanged.

By accessing this mock exam, you agree to the following terms of use: This mock exam is provided to

currently-registered CFA candidates. Candidates may view and print the exam for personal exam

preparation only. The following activities are strictly prohibited and may result in disciplinary and/or legal

action: accessing or permitting access by anyone other than currently-registered CFA candidates; copying,

posting to any website, emailing, distributing and/or reprinting the mock exam for any purpose.