1、Which of the following actions is best described as taking place in the execution step of the portfolio management process?

　　A.Rebalancing the portfolio.

　　B.Developing an investment policy statement.

　　C.Choosing a target asset allocation.

　　2、Which of the following statements about the steps in the portfolio management process is NOT correct?

　　A.Developing an investment strategy is based on an analysis of historical performance in financial markets and economic conditions.

　　B.Rebalancing the investor’s portfolio is done on an as-needed basis,and should be reviewed on a regular schedule.

　　C.Implementing the plan is based on an analysis of the current and future forecast of financial and economic conditions.

　　3、The process of risk management includes:

　　A.minimizing risk.

　　B.maximizing returns.

　　C.defining and measuring risks being taken.