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Jean Stall, CFA, has just completed the yearly review for one of her clients Jeff Schaller. During the review she went over the original questionnaire he filled out to make sure the current portfolio has not drifted too far from the original asset allocation as determined by the questionnaire. The questionnaire was well designed to quantitatively determine Schaller’s level of risk aversion. One of Schaller’s statements in the questionnaire was that he was comfortable investing in stocks but did not want to lose any money in the stock market. As a result Stall took a portion of his non-retirement money and put it in an indexed annuity which is a long term investment guaranteed not to lose any money but will participate in any market gains. Which of the following is NOT an error that Stall committed? A. Stall met with Schaller on a yearly basis. B. There is no mention that behavioral traits were addressed in the questionnaire. C. Stall took Schaller’s comment too literally and may have placed him in a potentially inappropriate product with the indexed annuity. |