NO.PZ201805280100000303
问题如下：
The broker suggests that Young rebalance her $5.5 million money market account and the $3.0 million tax-deferred retirement account periodically in order to maintain their targeted allocations. The broker proposes the same risk profile for the equity positions with two potential target equity allocations and rebalancing ranges for the two accounts as follows:
■ Alternative 1: 80% equities +/– 8.0% rebalancing range
■ Alternative 2: 75% equities +/– 10.7% rebalancing range
选项：
解释：
5.5miilion account, choose alternatives 2. for ther taxable account, choose a wider corridor, because taxable account leads a higher rebancing cost, also, tax can reduce the return volatility,
3.0 million account, choose alternatives 1. for favoriable tax account, choose a thinner corridor, because deferring tax,lower rebalancing cost.also, before tax return has higher volatility than after tax return.