Risk Questionnaire

When do you expect to begin withdrawing from this portfolio?

Less than 1 year

1 to 2 years

3 to 4 years

5 to 7 years

8 to 10 years

11 years or more

Once you begin withdrawing money from your investment, over how long of a period do you anticipate the withdrawals to continue?

I plan to take a lump sum distribution

1 to 2 years

3 to 4 years

5 to 8 years

9 to 10 years

11 years or more

Which of the following portfolios is most consistent with your attitudes regarding investing and inflation?

Inflation can greatly erode the return on your investments, especially over time. For example, in a typical year with a 3.5% inflation rate, a 6% return before inflation would have a real return of only 2.5% (6% - 3.5% = 2.5%).

Portfolio 1 will most likely exceed long-term inflation by a significant margin and has a high degree of volatility.

Portfolio 2 will most likely exceed long-term inflation by a moderate margin and has a moderate to high degree of volatility.

Portfolio 3 will most likely exceed long-term inflation by a small margin and has a small to moderate degree of volatility.

Portfolio 4 will most likely match inflation and has a low degree of risk volatility.

Please select the portfolio with which you are most comfortable investing.

Portfolios with the highest average returns also tend to have the highest chance of short-term losses. The table below provides the average dollar return of five hypothetical investments of $100,000 and the possibility of lower value (ending value of less than $100,000) or higher value (ending value of more than $100,000) over a one-year holding period.

Portfolio A

Portfolio B

Portfolio C

Portfolio D

Portfolio E

Considering the below, which of the following statements best describes your attitude to risk?

Investing involves a trade-off between risk and return. Historically, investments with higher returns have been associated with greater risk and chance for loss. Alternatively, cautious investments that have had a lower chance for loss, also have yielded lower returns.

I am most concerned with risk. I am willing to accept the lower returns in order to limit my chance of loss.

I am willing to bear some risk and chance for loss in an effort to achieve slightly higher returns, but prefer a significant portion of my portfolio to be invested in cautious assets.

I am willing to accept moderate risk and chance of loss in order to achieve higher returns. Limiting risk and maximizing returns are of equal importance to me.

I wish to achieve high returns on my investments. I am willing to accept high risk and chance of loss.

I am primarily concerned with maximizing the returns of my investments. I am willing to accept large and sometimes dramatic short-term fluctuations in the value of this portfolio.

How might you respond when you experience investment losses?

Sometimes investment losses are permanent, sometimes they are prolonged, and sometimes they are short-term, followed by market recoveries.

Even if my investments suffered a significant decline over several years, I would continue to follow my long-term investment strategy and not adjust my portfolio.

I can endure significant declines in the value of my investments and would wait at least one year before adjusting my portfolio.

Although declines in investment value make me uncomfortable, I would wait one to two quarters before adjusting my portfolio.

I would sell my investments immediately or change to a more conservative portfolio if they suffered substantial declines.

Which of the sample portfolios would be most attractive to you?

The following answer options are descriptions of 5 sample portfolios and their potential portfolio gain and loss outcomes over a short time horizon (i.e. 1 year). Note: Investments carrying a higher risk come with the potential of achieving more gains, but also a higher possibility of incurring considerable losses.

Portfolio A

Portfolio B

Portfolio C

Portfolio D

Portfolio E

Name

First Name

Last Name