2. Which of the following statements about the IPS are likely to be incorrect? Circle all that applies. a. It can be considered as an antidote to panic by Charles Ellis. b. It is an investment management contract between the manager and the asset custodian. c. It is a starting point for periodic portfolio review and client communications with managers. d. It is a basis for tactical asset allocation. e. It is a process whereby investors articulate their realistic needs and goals and become familiar with financial markets and investing risks. 3. What are the five investment constraints found in the CFA Institute's Portfolio Management Process? (i) (ii). (iii) (iv) (v)