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1. A passive investment that is financially engineered to provide a specific risk and retun characteristic is known as a: a. pooled product b. structured product c. managed product d. open ended index fund 2 Advantages of structured products include all of the following except a. liquidity c diversification d. high probability of return of principal 3 Managed products typically have a finite life due to maturity dates b can have active or passive management c have far less demands and restrictions than structured products d are usually closed-ended 4. The trend towardp programs by brokers and advisors has been driven by increased empowerment of individuals to do their own trading which in turn is the result of better technology and low trading fees a. Asset allocation b Fee-based c. Structured Products d. Commission-based