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Basic Question 3 of 4
Taxes are an important investment constraint for ______.
B. banks
C. endowments
A. individuals
B. banks
C. endowments
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Learning Outcome Statements
describe the investment constraints of liquidity, time horizon, tax concerns, legal and regulatory factors, and unique circumstances and their implications for the choice of portfolio assets
CFA® 2025 Level I Curriculum, Volume 6, Module 4.