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For non-registered accounts, the mandatory personal information includes the client’s full legal name and permanent address, while date of birth and social insurance number are recommended but not required. The feedback from the document states:

" The first step as a dealing representative is to obtain a client’s personal data including full legal name, permanent and mailing address, social insurance number and date of birth. While a permanent address is mandatory, providing a different mailing address is optional. Neither the social insurance number nor date of birth are mandatory for non-registered accounts, but both are highly recommended. "

Within behavioural-finance portfolio management, the representative must determine whether a client ' s behavioural tendencies should be moderated or accommodated/adapted to . Wealth is important because clients with substantial financial resources normally have greater capacity to absorb the consequences of a bias without jeopardizing essential financial objectives. Consequently, adaptation can be appropriate where changing the behaviour is unnecessary or potentially disruptive to the advisor-client relationship. The IFC material explicitly demonstrates that wealth level and the nature of behavioural biases affect the advisor ' s response; for a lower-wealth client with strong emotional biases, it prescribes a combination of moderation and adaptation. In the present question, the distinguishing fact is that the client is wealthy , providing greater financial flexibility. Therefore, adapting the portfolio approach around the client ' s behavioural preference is the best answer: A .

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Loss-averse investors prioritize minimizing potential losses over maximizing gains. The option with a 25% chance of gaining $2,000 and a 75% chance of losing nothing has the lowest loss potential, making it the preferred choice. The feedback from the document states:

" The loss-averse investor will choose a lower potential of loss over a more rational choice. In this example, a 25% chance of gaining $2,000 and a 75% chance of losing nothing has the lowest possible loss potential, and will typically be the statement selected by the loss-averse investor. "