Risk Tolerance Assessment

Name *

First Name Last Name

1. When do you expect to begin withdrawing money from your investment account? (choose one) *

Less than 2 years 2 years 3-4 years 5-7 years 8-10 years More than 10 years

2. Once you begin withdrawing money from your investment account, how long do you expect the withdrawals to last? *

I plan to take a lump sum distribution 1-4 years 5-7 years 8-10 years More than 10 years

3. Which of the following choices best reflects your attitude toward inflation and risk? *

My main goal is to avoid loss, even though I may only keep pace with inflation. My main goal is to earn slightly more than inflation, while taking on a low level or risk. My main goal is to increase my portfolio's value. Therefore, I am willing to accept short-term losses, but I am not comfortable with extreme performance shifts that may be experienced in the most aggressive investment options. My main goal is to maximize my portfolio value, and I am willing to take on more extreme levels of risk and performance shifts in my portfolio to do so.

4. The table above presents a hypothetical worse case loss, expected gain, and best case gain of five examples over a one-year period with an initial $100,000 investment. Which portfolio would you prefer to hold? *

Portfolio 1 Portfolio 2 Portfolio 3 Portfolio 4 Portfolio 5

5. Investing involves a trade-off between risk and return. Which statement best describes your investment goals? *

Protect the value of my account. In order to minimize the chance for loss, I am willing to accept the lower long-term returns provided by conservative investments. Keep risk to a minimum while trying to achieve slightly higher returns than the returns provided by investments that are more conservative. Focus more on the long-term investment returns. Long-term growth is equally as important as managing portfolio risk. Maximize long-term investment returns. I am willing to accept large and sometimes dramatic short-term fluctuations in the value of my investments.

6. Historically, markets have experienced downturns, both short-term and prolonged, followed by market recoveries. Suppose you owned a well-diversified portfolio that fell by 20% (i.e. $1,000 initial investment would now be worth $800) over a short period, consistent with the overall market. Assuming you still have 10 years until you begin withdrawals, how would you react? *

I would not change my portfolio. I would wait at least one year before changing to options that are more conservative. I would wait at least three months before changing to options that are more conservative. I would immediately change to options that are more conservative.

7. The graph above shows the hypothetical best and worst results of five sample portfolios over a one year holding period. Note that the portfolio with the highest upside also has the largest downside. Which of these portfolios would you prefer to hold? *

Portfolio A Portfolio B Portfolio C Portfolio D Portfolio E

8. I am comfortable with investments that may frequently experience large declines in value if there is a potential for higher returns. What is your view regarding this statement? *

Strongly disagree Disagree Somewhat agree Agree Strongly agree