A. “THE PORTFOLIO MANAGEMENT PROCESS AND THE INVESTMENT POLICY STAT...

1. A. “The Portfolio Management Process and the Investment Policy Statement” (Study Session 9) n) formulate and justify a risk objective for an investor; o) formulate and justify a return objective for an investor; p) determine the liquidity requirement for an investor and evaluate the effects of a liquidity requirement on portfolio choice; r) determine the tax concerns, legal and regulatory factors, and unique circumstances for an investor and evaluate their effects on portfolio choice. B. “Managing Individual Investor Portfolios” (Study Session 9) j) discuss each of the major objectives that are part of an individual investor’s investment policy statement; k) distinguish between an individual investor’s ability to take risk and willingness to take risk; n) formulate and justify an investment policy statement for an individual investor.