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Which of the following is least important as a reason for a written investment policy statement IPS Why? a). The IPS may be required by

Which of the following is least important as a reason for a written investment policy statement IPS Why?

a). The IPS may be required by regulation. 

b). Having a written IPS is part of best practice for a portfolio manager. 

c). Having a written IPS ensures the client's risk and return objectives can be achieved.

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