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Which of the following is not true regarding life-cycle approach? It is most appropriate for institutions. It automatically adjusts to a more conservative position as

  1. Which of the following is not true regarding life-cycle approach?
    1. It is most appropriate for institutions.
    2. It automatically adjusts to a more conservative position as the investor nears retirement age.
    3. It is suited to 401(k) plans.
    4. It can be implemented using life-cycle (also known as target-date) funds.

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