An investment policy statement would likely include:
I. expected returns of the recommended strategy and the expected range of these returns.
II. recommended allocations among differing asset classes.
III. strategies used for selecting specific stocks in the equity portion of the portfolio.
IV. disclosure of the fees that the adviser will earn for implementing the recommended strategy.
A) II, III and IV.
B) I, II and III.
C) I only.
D) I and II.
Answer: B) I, II and III.