Characterize each of the investment objectives given below as one of the following: an

absolute risk objective, a relative risk objective, an absolute return objective, or a relative

return objective.

Achieve a rate of return of 8 percent a year.

Limit the standard deviation of portfolio returns to 20 percent a year or less.

Achieve returns in the top quartile of the portfolios peer universe (the set of portfolios

with similar investment objectives and characteristics).

Maintain a 10 percent or smaller probability that the portfolios return falls below the

threshold level of 5 percent per annum over a one-year time horizon.

Achieve a tracking risk of no more than 4 percent per annum with respect to the

portfolios benchmark.