- CFA Exams
- CFA Level I Exam
- Topic 9. Portfolio Management
- Learning Module 61. Portfolio Management: An Overview
- Subject 3. Types of Investors
CFA Practice Question
Which institutional investor has the longest investment time horizon?
A. A defined benefit pension plan that is closed to new members
B. A property insurance company
C. Stanford University Endowment Fund
Explanation: University endowments are established with the intent of having perpetual lives.
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