NO.PZ2023021602000047
问题如下：
Reiko Kimisaki, CFA, is an investment advisor for a national social security fund in a frontier market with a very limited and illiquid capital market. The labor force is young with an investment time horizon of 25 to 30 years. She has been asked to suggest ways to increase the investment return of the overall portfolio. After careful assessment of the fund's previous investment history and available asset classes, she considers investment in private equity. What is Kimisaki's lowest priority to avoid any Code of Ethics and Standards of Professional Conduct violations prior to making this investment recommendation?
选项：
A.Assess the risk tolerance of the fund.
B.Analyze the expected returns of private equity in the market.
C.Determine if the Investment Policy Statement allows for alternative investments.
解释：
B is correct because prior to undertaking analysis with regard to expected returns, an advisor must determine suitability of an investment class including whether it fits within the client's risk tolerance and if it is an allowable asset class as per the client's Investment Policy Statement. Only once these factors have been determined should she proceed if appropriate to analyze expected returns to determine a particular investment recommendation.
A is incorrect because assessing risk of a client is a key role in determining investment suitability.
C is incorrect because before introducing a new asset class, it must be determined if that asset class is an allowable asset class as defined by the Investment Policy Statement.
能帮忙解释一下这个吗
