As per CAPM Model,

Required Rate = R_f + Beta(R_m - R_f)

Here,

R_f  = Risk-free Rate

R_m  = Expected Market Return

Capital Asset Pricing Model (CAPM) is a model describing the relationship between the risk and the expected return of an asset. Beta represents non-diversifiable risk or systematic risk.

Hence the purpose of CAPM is to try and equal a stock's required return to its perceived level of risk not beta to its perceived level of risk.

The above statement is "False".