CFA Practice Question
Which of the following is correct?
A. Formulation of the 'Policy Statement' does not require discussions with the client.
B. An investment advisor should hold regular meetings with the client to update investment strategy to account for changes.
C. The 'Policy Statement' formulated by an investment advisor may be shown to a client, but does not need to be approved by the client.
Explanation: 'Policy Statement' needs to be approved by the client and client discussions are required.
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