QUESTION 149

1. Which of the following best describes the duty of a fiduciary?

   		a. To manage the portfolio in a manner that is prudent.
   		b. To make investment recommendations that are suitable.
   		c. To act in good faith and with care, candor, and loyalty.
   		d. To ensure that the client's goals are reached in a tax efficient manner.

QUESTION 150

1. Put the following activities of portfolio management in the correct order: (1) Select assets for the portfolio. (2) Appraise expectations in the capital markets. (3) Rebalance.

   		a. 2, 1, 3.
   		b. 1, 2, 3.
   		c. 1, 3, 2.
   		d. 2, 3, 1.