知识点

问题如下：

Which of the following is an explicit step for developing capital market expectations Morgan would most likely take?

选项：

A.Establish a range of risk and returns, as precise as possible (to ensure accuracy), based on historical performance.

B.Interpret the current investment environment, using the selected data and methods, applying experience and judgment.

C.Use as broad a set of expectations as possible, including the time horizon(s) to which they apply, to ensure all potential outcomes are considered.

解释：

Answer Choice (A) is not stated in the text. As for Answer Choice (C), specify the set of expectations needed, including the time horizon(s) to which they apply. This includes formulating an explicit list of the asset classes and investment horizons, not a broad set as the answer states. The framework is designed to narrow, not broaden, the expectations.