投资学第7版Test Bank答案
13. __________ center on the trade-off between the return the investor wants and how
much risk the investor is willing to assume.
A) Investment constraints
B) Investment objectives
C) Investment policies
D) All of the above
E) None of the above
Answer: B Difficulty: Easy
Rationale: The objective is to earn the maximum return, given the amount of risk the
investor is willing to assume.
14. The stage an individual is in his/her life cycle will affect his/her __________.
A) return requirements
B) risk tolerance
C) asset allocation
D) A and B
E) A, B, and C
Answer: E Difficulty: Moderate
Rationale: The stage in the life cycle affects risk tolerance and therefore affects return
requirements and asset allocation.
15. A remainderman is __________.
A) a stockbroker who remained working on Wall Street after the 1987 crash
B) an employee of a trustee
C) one who receives interest and dividend income from a trust during their lifetime
D) one who receives the principal of a trust when it is dissolved
E) none of the above
Answer: D Difficulty: Easy
Rationale: When the trust is dissolved, the remainderman receives the remaining
principal.
16. __________ are boundaries that investors place on their choice of investment assets.
A) Investment constraints
B) Investment objectives
C) Investment policies
D) All of the above
E) None of the above
Answer: A Difficulty: Easy
Rationale: Investment constraints consists of actions the investor is unwilling to take.
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