IFIC Mutual Funds Licensing Practice Exam · Question
Mrs. Lee, a 55-year-old widow, recently sold her family home and is now renting. She has a substantial amount in her investment portfolio and needs approximately $4,000 per month from her investments to maintain her current lifestyle. This information is crucial for establishing her:
The specific amount of money Mrs. Lee requires monthly from her portfolio to cover living expenses is a direct measure of her income needs from her investments.
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Question: Mrs. Lee, a 55-year-old widow, recently sold her family home and is now renting. She has a substantial amount in her investment portfolio and needs approximately $4,000 per month from her investments to maintain her current lifestyle. This information is crucial for establishing her:
Answer options:
- Investment Objectives
- Risk Tolerance ✅ Income Needs
- Time Horizon
Correct answer: Income Needs
Explanation: The specific amount of money Mrs. Lee requires monthly from her portfolio to cover living expenses is a direct measure of her income needs from her investments.
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