答案和详解如下： Q1.Correct answer is A)
Smith is in clear violation of the fund’s investment policy statement. Just because he is new to the fund, does not exempt him from following the statement. Most investment policy statements contain a stated review process that provides direction for dispute resolution. Q2. Correct answer is B) The investment policy statement provides an understanding of the relationship between manager and client. The investment policy statement does not provide guaranteed legal protection or how to form capital market expectations. Q3. Correct answer is B) An investment policy statement does not provide guaranteed investment results. Q4. Correct answer is C) The purpose of an investment policy statement is to provide long-term discipline in investment decision making. The investment policy statement protects against short-term portfolio adjustments resulting from investor panic or overconfidence. Q5. Correct answer is A) The investment policy statement does not determine the client’s ability and willingness to take risk. These are a function of the client’s situation and personality type. The IPS should, however, discuss the client’s willingness and ability to take risk. | 
发表于 2009-11-14 15:51
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