1. The aspect least likely to be included in the portfolio management process is
a. Identifying an investor's objectives, constraints, and preferences.
b. Organizing the management process itself.
c. Implementing strategies regarding the choice of assets to be used.
d. Monitoring market conditions, relative values, and investor circumstances.
2. A clearly written investment policy statement is critical for
a. Mutual funds
b. Individuals
c. Pension funds
d. All investors