Which of the following statements correctly describes both APT and the CAPM?
a) Both APT and CAPM are based on the assumption that investors are risk-averse.
b) APT considers only systematic risk, while CAPM considers both systematic and unsystematic risk.
c) APT and CAPM both provide precise estimates of expected returns.
d) APT relies on the beta coefficient, while CAPM relies on the security market line.