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Portfolios 108: Creating Your Investment Policy Statement

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1.
What does the executive summary portion of the investment policy statement do?
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It summarizes your current situation and what you expect from your portfolio. In other words, it's a snapshot.
2.
Which of the following items would be part of the investment selection criteria of your investment policy statement?
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Minimum tax-efficiency ratio. The investment selection criteria are quantitative in nature.
3.
The investment objectives portion of your investment policy statement covers what you're trying to achieve with your portfolio.
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True. It's all about goals.
4.
Which of the following is a question to answer for the investment philosophy section of your investment policy statement?
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What's my philosophy about risk? Investment philosophy questions tell you what is important to you as an investor.
5.
The Monitoring Procedures portion of your investment policy statement details how you will keep tabs on your investments.
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True. This is the section that covers how you will keep things in line with your executive summary.