Beta <1 has a greater than average systemic risk?

CFA Level II Equities
#1

In answer to one of the return concept questions in Elan PQs it says that “A beta less than 1 indicates that a security has a greater than average systematic risk”.

I’m probably being really stupid here, but why is this? If beta is a measure of systematic risk, then surely the greater the beta, the greater the systematic risk frown

Very confused.

#2

As far as i know,when beta is less than 1…you have _ less _ than average systematic risk.

#3

+1

#4

Its wrong, check the errata, it’s in there.

#5

Damn Elan Guides and their mistakes!