单选题 When setting investor objectives in the investment policy statement, expressing goals only in terms of returns can:

A. lead to inappropriate investment practices by the portfolio manager, such as the use of low-risk investment strategies.
B. distort the expected outcome.
C. lead to inappropriate investment practices by the portfolio manager, such as the use of high-risk investment strategies.

【正确答案】 C

【答案解析】When setting investor objectives in the investment policy statement, expressing goals only in terms of returns can lead to inappropriate investment practices by the portfolio manager, such as the use of high-risk investment strategies.