问题如下：
A portfolio to the left of the market portfolio on the CML is:
选项：
A.a borrowing portfolio.
B.a lending portfolio.
C.an inefficient portfolio.
解释：
B is correct.
A portfolio to the left of a portfolio on the CML has less risk than the market portfolio. Investors will seeks to take less risk and lend at risk-free rate.
any point above the CML is not achievable （borrowing）, and any point below (lending) the CML is dominated by and inferior to any point on the CML.
A portfolio to the left of a portfolio on the CML = below (lending)
A portfolio to the right of a portfolio on the CML =not achievable （borrowing）
这个理解是否正确？
