问题如下图：
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解释：问一道题：NO.PZ2018091705000105 [ CFA III ]题目里为啥说acor意识到自己的举动引起了道德问题？跟解答这个问题有啥关系呢？
NO.PZ2018091705000105 问题如下 ring their meeting, Açor anBañuq scuss charitable plees thUamini hrecently receiveanthe likelihoothNjwill meet her charitable plee. Bañuq then asks Açor the following question:“How might my investment objectives anconstraints ffer from those of a typicuniversity enwment, suUamini?The y after Açor’s meeting with Bañuq, Açor realizes thher actions in the meeting mhave raiseethicconcern.The most appropriate response to Bañuq’s question is thhe has: A.a shorter time horizon. less significant tconsirations. less verse investment objectives. A is correct. a private client, Bañuq is more likely to have a shorter time horizon ththof Uamini. Thus, Bañuq is likely to more constrainewith respeto risk taking anliquity. A typicuniversity enwment ha long time horizon, whictheoretically infinite. 如上
NO.PZ2018091705000105 问题如下 ring their meeting, Açor anBañuq scuss charitable plees thUamini hrecently receiveanthe likelihoothNjwill meet her charitable plee. Bañuq then asks Açor the following question:“How might my investment objectives anconstraints ffer from those of a typicuniversity enwment, suUamini?The y after Açor’s meeting with Bañuq, Açor realizes thher actions in the meeting mhave raiseethicconcern.The most appropriate response to Bañuq’s question is thhe has: A.a shorter time horizon. less significant tconsirations. less verse investment objectives. A is correct. a private client, Bañuq is more likely to have a shorter time horizon ththof Uamini. Thus, Bañuq is likely to more constrainewith respeto risk taking anliquity. A typicuniversity enwment ha long time horizon, whictheoretically infinite. 完全看不懂，考点是什么？
NO.PZ2018091705000105 问题如下 ring their meeting, Açor anBañuq scuss charitable plees thUamini hrecently receiveanthe likelihoothNjwill meet her charitable plee. Bañuq then asks Açor the following question:“How might my investment objectives anconstraints ffer from those of a typicuniversity enwment, suUamini?The y after Açor’s meeting with Bañuq, Açor realizes thher actions in the meeting mhave raiseethicconcern.The most appropriate response to Bañuq’s question is thhe has: A.a shorter time horizon. less significant tconsirations. less verse investment objectives. A is correct. a private client, Bañuq is more likely to have a shorter time horizon ththof Uamini. Thus, Bañuq is likely to more constrainewith respeto risk taking anliquity. A typicuniversity enwment ha long time horizon, whictheoretically infinite. 为什么机构的tissues是less complex呢？
NO.PZ2018091705000105问题如下ring their meeting, Açor anBañuq scuss charitable plees thUamini hrecently receiveanthe likelihoothNjwill meet her charitable plee. Bañuq then asks Açor the following question:“How might my investment objectives anconstraints ffer from those of a typicuniversity enwment, suUamini?The y after Açor’s meeting with Bañuq, Açor realizes thher actions in the meeting mhave raiseethicconcern.The most appropriate response to Bañuq’s question is thhe has: A.a shorter time horizon. less significant tconsirations. less verse investment objectives. A is correct. a private client, Bañuq is more likely to have a shorter time horizon ththof Uamini. Thus, Bañuq is likely to more constrainewith respeto risk taking anliquity. A typicuniversity enwment ha long time horizon, whictheoretically infinite.个人投资者要更分散投资吗？
NO.PZ2018091705000105问题如下 ring their meeting, Açor anBañuq scuss charitable plees thUamini hrecently receiveanthe likelihoothNjwill meet her charitable plee. Bañuq then asks Açor the following question:“How might my investment objectives anconstraints ffer from those of a typicuniversity enwment, suUamini?The y after Açor’s meeting with Bañuq, Açor realizes thher actions in the meeting mhave raiseethicconcern.The most appropriate response to Bañuq’s question is thhe has: A.a shorter time horizon. less significant tconsirations. less verse investment objectives. A is correct. a private client, Bañuq is more likely to have a shorter time horizon ththof Uamini. Thus, Bañuq is likely to more constrainewith respeto risk taking anliquity. A typicuniversity enwment ha long time horizon, whictheoretically infinite.我没理解到是考察个人和机构，这个点是怎么判断出来的？
