NO.PZ2015121802000056
问题如下：
Which of the following statement about investment policy statement is most correct?
选项：
A.An IPS sets the assets allocation strategy for client.
B.An IPS can only work for a long-term horizon client.
C.An IPS can make the risk objectives in line with the return objectives.
解释：
A is correct.
Strategic asset allocation is a part of IPS which clarify the investors' best asset allocation according to return and risk objectives. IPS is applicable for various time horizon, not only the long-term client. The return objective should be determined by risk objective, not like the statement in C.
asset allocation不是在security analysis stage 吗？？？？？？？？？？？
