1. What step in the Strategic Investment Planning process involves changing and evolving the strategic or tactical investment plan over time?
   1. Clarify Client Status, Problems and Opportunities
   2. Identify Strategies and Present the Plan
   3. Implement the Plan
   4. Monitor Performance and Update

2. Roberto is a 38-year-old dentist. He is single and earns approximately $90,000 annually. He has a net worth of $250,000. Roberto is working toward saving $500,000 within 5 years to buy a house. He is not a knowledgeable investor, and relies on you to achieve results. Do you have all the required client information to make a suitable recommendation?

3. 1. Yes, you have the required KYC information.
   2. Yes, you have the required information to recommend a managed portfolio that has been found suitable for everyone so far.
   3. No, you do not know Robertos risk tolerance.
   4. No, you do not know Robertos investment objectives.