1. Can you list the seven steps in the portfolio management process? 2. Can you explain the primary investment objective of safety of principal? 3. Can you give some examples of who safety of principal as an objective would appeal to? 4. Can you explain the primary investment objective of income? 5. Can you give some examples of who income as an objective would appeal to? 6. Can you explain the primary investment objective of growth? 7. Can you give some examples of who growth as an objective would appeal to? 8. Can you name and explain the two secondary objectives? 9. What are five typical investment constraints? Can you explain each one? 10. What is the purpose of an investment policy statement? 11. What are the components of an investment policy statement? 12. Can you describe the three main asset classes of a typical portfolio? 13. What is the significance of asset class timing? 14. How does the equity cycle relate to the business cycle? 15. During a stock market trough, what recommendations might one follow for their portfolio? 16. During an equity cycle peak, what recommendations might one follow for their portfolio? 17. What is the importance of asset allocation? 18. What is the strategic asset mix? 19. Can you explain dynamic asset allocation? 20. Can you describe the tactical asset allocation strategy? 21. What are the three typical categories that you must monitor as an advisor? 22. What is a benchmark? 23. Can you define risk-adjusted rate of return? 24. Can you recall the Sharpe ratio and interpret its meaning? 25. What is the purpose of rebalancing as the seventh step in the portfolio Management process