NO.PZ202206210100000104
问题如下：
The changes that were allowed in OHF’s strategic asset allocation in Phase 4 are best classified as relating to changes in:选项：
A.constraints. B.beliefs. C.goals.解释：
SolutionB is correct. In Phase 4, lower oil prices and reduced production would have resulted in substantial declines in cash inflows that management perceived to be long term in nature. To compensate for these changes, management sought both lower withdrawals and increased equity exposure to bolster its declining cash inflows.
A is incorrect. A change in constraints would arise from a change in time horizon, liquidity needs, asset size, or regulatory constraints, none of which are indicated in Phase 4.
C is incorrect. Although business conditions have changed because of lower oil prices and reduced production, there is no indication that the main goal of the fund has changed; indeed, the government reaffirmed its commitment to the fund given in the latter part of Phase 2.
书上的这三个概念也十分模糊，老师是否可以总结一下区分这三个constraints的关键词？
比如看到 time horizon， asset size就是 change in constraints
看到什么是 change belief
