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At the time a client relationship is established, assume that an appropriate investment policy statement has been developed. Which of the following statements is CORRECT regarding the Prudent Investor Rule (PIR)? The PIR requires that the fiduciary: A. develop an appropriate investment policy statement when the client relationship is established and update the investment policy only as is deemed necessary by the fiduciary. B. review the client circumstances and make changes when asked to do so by the client and make changes in the investment policy as warranted. C. periodically review the client circumstances and make appropriate changes in the investment policy as warranted. |