1. What is the difference between the income objective and the growth-of income objective?
2. Why is it useful to establish a secondary portfolio objective?
3. A client is definitely more interested in income than in capital appreciation. How would you help her discover whether the primary objective should be income or growth of income?
4. What role does common stock have in a portfolio whose primary objective is stability of principal? Would your answer be different if stability of principal were the secondary rather than the primary objective?
5. Does the income objective mean that the fund manager should seek to generate the maximum possible income from the fund? Why or why not?
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