https://vantage-investment-questionnaire.onrender.com/js/questions.js

1/* The Worldsource Investment Questionnaire (2024-04), transcribed.
2   ---------------------------------------------------------------------------
3   This file is loaded by the browser AND require()d by the server, so the page
4   the client fills in and the email they receive are scored from one copy of
5   these values. Never fork a point value into another file.
6
7   Question text, option text and point values are reproduced from the official
8   form. Do not "improve" the wording: the whole value of this tool is that it
9   asks exactly what the paper form asks, so the conversation that follows and
10   the eventual official WFM paperwork line up with what the client already
11   answered. If Worldsource issues a new revision, change FORM_REVISION at the
12   same time as the content.
13
14   Point values sit in `points`. Questions 1 and 2 carry no points on the
15   official form; they inform the discussion and, in question 2's case, the
16   conservative-products flag on the last page. */
17(function (root) {
18  "use strict";
19
20  var FORM_REVISION = "2024-04";
21
22  /* Questions 3-6 total to Risk Tolerance, 7-11 to Risk Capacity. The letter
23     on each option matters for more than display: the form flags "option 'A'"
24     answers to questions 2, 4, 5 and 7 as pointing at guaranteed or near-cash
25     products regardless of the arithmetic. */
26  var QUESTIONS = [
27    {
28      n: 1,
29      section: "objectives",
30      scores: null,
31      prompt: "What is your primary goal for this account?",
32      options: [
33        { letter: "A", label: "I want to accumulate wealth", detail: "fund my retirement; financial security; investment growth; generational wealth; legacy; future charity giving; etc." },
34        { letter: "B", label: "I want to fund a major expenditure", detail: "save for a specific purchase; upcoming expenses; travel, etc." },
35        { letter: "C", label: "I want to invest for education funding", detail: "save for my children's education, personal development, etc." },
36        { letter: "D", label: "I want to maintain my current lifestyle", detail: "maintain regular income; fund ongoing expenditures" },
37        { letter: "E", label: "I want to save for a rainy day", detail: "save for unforeseen circumstances; emergencies; job loss; financial hardships, etc." },
38        { letter: "F", label: "Other", detail: "please describe your goal below", other: true },
39      ],
40    },
41    {
42      n: 2,
43      section: "objectives",
44      scores: null,
45      intro:
46        "Your time horizon affects the goal(s) you have for an account(s), and the types of financial products that may be suitable for you. You can define your investment time horizon as the period from now until when you will need to access a significant portion (more than 33%) of the money that you have invested.",
47      prompt: "What is your investment horizon or, when will you need this money?",
48      options: [
49        { letter: "A", label: "0-2 years" },
50        { letter: "B", label: "3-4 years" },
51        { letter: "C", label: "5-9 years" },
52        { letter: "D", label: "10-20 years" },
53        { letter: "E", label: "Over 21 years" },
54      ],
55    },
56    {
57      n: 3,
58      section: "tolerance",
59      scores: "tolerance",
60      prompt:
61        "If you had $100,000 to invest, which of the following investment account(s) do you feel is best suited to help you meet your goal(s) given the best, worst and average one-year returns that you may experience?",
62      chart: true,
63      options: [
64        { letter: "A", label: "Portfolio A", points: 1 },
65        { letter: "B", label: "Portfolio B", points: 2 },
66        { letter: "C", label: "Portfolio C", points: 3 },
67        { letter: "D", label: "Portfolio D", points: 4 },
68        { letter: "E", label: "Portfolio E", points: 6 },
69        { letter: "F", label: "Portfolio F", points: 7 },
70      ],
71    },
72    {
73      n: 4,
74      section: "tolerance",
75      scores: "tolerance",
76      intro:
77        "Your investment account(s) can experience fluctuations within your defined investment time horizon. It is important to assess your willingness to accept typical market movements.",
78      prompt: "At what point will you experience anxiety, should your investments decrease in value?",
79      options: [
80        { letter: "A", label: "I cannot tolerate any decline", points: 0 },
81        { letter: "B", label: "I can tolerate a decline of up to 5%", points: 2 },
82        { letter: "C", label: "I can tolerate a decline of 5-10%", points: 4 },
83        { letter: "D", label: "I can tolerate a decline of 10-20%", points: 6 },
84        { letter: "E", label: "I can tolerate a decline greater than 20%", points: 7 },
85      ],
86    },
87    {
88      n: 5,
89      section: "tolerance",
90      scores: "tolerance",
91      prompt: "When it comes time to make a financial or investment decision, you can best be described as:",
92      options: [
93        { letter: "A", label: "Very conservative", detail: "I'm unwilling to accept any risk", strong: true, points: 0 },
94        { letter: "B", label: "Conservative", detail: "I will accept some risk", strong: true, points: 2 },
95        { letter: "C", label: "Moderate", detail: "I'm willing to accept a higher risk to potentially earn a higher return", strong: true, points: 6 },
96        {
97          letter: "D",
98          label: "Growth focused",
99          detail: "I'm willing to accept significant risk and potentially large losses, for the opportunity to achieve a higher return",
100          strong: true,
101          points: 8,
102        },
103      ],
104    },
105    {
106      n: 6,
107      section: "tolerance",
108      scores: "tolerance",
109      intro:
110        "Information about your investment experience and awareness helps us assess your investment knowledge and attitude toward investment risk.",
111      prompt: "Which of the following statements best reflects your knowledge about investing?",
112      options: [
113        { letter: "A", label: "I am new to the world of financial markets and investing; consider me a novice", points: 1 },
114        { letter: "B", label: "I have a fair understanding of investments and financial markets", points: 2 },
115        { letter: "C", label: "I have a good level of knowledge of investments and financial markets", points: 3 },
116        { letter: "D", label: "I have extensive investment knowledge; I understand a wide range of investment products and follow financial markets closely", points: 4 },
117      ],
118    },
119    {
120      n: 7,
121      section: "capacity",
122      scores: "capacity",
123      intro:
124        "If the investment in your account(s) declined in value b

124y 10% or more, how would it affect your lifestyle from a cash flow/expenses standpoint? For example, would it affect your ability to pay your monthly expenses?",
125      options: [
126        { letter: "A", label: "My lifestyle would be severely impacted", points: 0 },
127        { letter: "B", label: "My lifestyle would be somewhat impacted", points: 3 },
128        { letter: "C", label: "My lifestyle would be slightly impacted", points: 5 },
129        { letter: "D", label: "My lifestyle would not be impacted", points: 6 },
130      ],
131    },
132    {
133      n: 8,
134      section: "capacity",
135      scores: "capacity",
136      intro:
137        "There is a connection between your ability to accept risk and your investment time horizon. Should you withdraw money from your account(s) prematurely, it can have an effect on your risk capacity.",
138      prompt: "How likely is it that you will withdraw money from your account(s) within your investment horizon?",
139      options: [
140        { letter: "A", label: "Likely", detail: "there are a number of reasons why I might not maintain the account(s) for the full period contemplated", strong: true, points: 1 },
141        { letter: "B", label: "Somewhat likely", detail: "I will probably not need to withdraw funds from the account(s) early", strong: true, points: 4 },
142        { letter: "C", label: "Unlikely", detail: "only an unforeseen event would cause me to withdraw these funds early", strong: true, points: 6 },
143      ],
144    },
145    {
146      n: 9,
147      section: "capacity",
148      scores: "capacity",
149      intro:
150        "Your financial assets are another indicator that can help us determine your ability to withstand potential financial losses. This is the total that you have in net liquid assets (including bank and investment accounts held at other financial institutions and excluding fixed assets such as real estate).",
151      prompt: "What are your estimated financial assets?",
152      options: [
153        { letter: "A", label: "Less than $100,000", points: 1 },
154        { letter: "B", label: "$100,000 \u2013 $250,000", points: 2 },
155        { letter: "C", label: "$250,000 \u2013 500,000", points: 3 },
156        { letter: "D", label: "$500,000 \u2013 $1,000,000", points: 4 },
157        { letter: "E", label: "$1,000,000 or more", points: 5 },
158      ],
159    },
160    {
161      n: 10,
162      section: "capacity",
163      scores: "capacity",
164      intro:
165        "Your age is an important factor we consider before making an investment recommendation. Younger investors typically have more time, a higher risk tolerance and may be more open to less conservative investment products than older investors.",
166      prompt: "What is your age bracket?",
167      options: [
168        { letter: "A", label: "Under 35/Corporate Entity", points: 4 },
169        { letter: "B", label: "35-69", points: 3 },
170        { letter: "C", label: "70 or older", points: 2 },
171      ],
172    },
173    {
174      n: 11,
175      section: "capacity",
176      scores: "capacity",
177      intro:
178        "The final component of assessing your risk capacity is assigning the percentage that your account(s) may represent as part of your overall savings (e.g. bank accounts, other investment accounts).",
179      prompt: "Please indicate the approximate amount that your Worldsource account(s) represent of your total savings:",
180      options: [
181        { letter: "A", label: "More than 60%", points: 2 },
182        { letter: "B", label: "25%-60%", points: 4 },
183        { letter: "C", label: "Less than 25%", points: 5 },
184      ],
185    },
186  ];
187
188  /* The score-to-rating table from the Know Your Client Profile page. */
189  var RATINGS = [
190    { min: 2, max: 7, label: "Low Risk" },
191    { min: 8, max: 12, label: "Low/Moderate Risk" },
192    { min: 13, max: 18, label: "Moderate Risk" },
193    { min: 19, max: 23, label: "Moderate/High Risk" },
194    { min: 24, max: 26, label: "High Risk" },
195  ];
196
197  /* Question 3's chart. Figures are read off the official form, so a client who
198     has seen the paper version sees the same six portfolios and the same
199     dollars. Rendered as an SVG, not an image, so it stays legible on a phone
200     and can be read by a screen reader. */
201  var PORTFOLIOS = [
202    { letter: "A", best: 11975, average: 5038, worst: -3640 },
203    { letter: "B", best: 14370, average: 5662, worst: -3833 },
204    { letter: "C", best: 18002, average: 6326, worst: -11287 },
205    { letter: "D", best: 22003, average: 7030, worst: -18287 },
206    { letter: "E", best: 28976, average: 7773, worst: -24864 },
207    { letter: "F", best: 36659, average: 8557, worst: -30031 },
208  ];
209
210  /* The conservative-products flag: the form points at GICs, high interest
211     savings and money market funds when option A is chosen for any of these
212     questions, or when the profile score is under six. */
213  var FLAG_QUESTIONS = [2, 4, 5, 7];
214
215  var HIGHER_RISK_OPTIONS = [
216    { label: "0%", value: 0 },
217    { label: "5%", value: 5 },
218    { label: "10% (Max)", value: 10 },
219  ];
220
221  /* Which ratings are offered the higher-risk-securities question. The form
222     asks it of "low to moderate or moderate" profiles. */
223  var HIGHER_RISK_RATINGS = ["Low/Moderate Risk", "Moderate Risk"];
224
225  var api = {
226    FORM_REVISION: FORM_REVISION,
227    QUESTIONS: QUESTIONS,
228    RATINGS: RATINGS,
229    PORTFOLIOS: PORTFOLIOS,
230    FLAG_QUESTIONS: FLAG_QUESTIONS,
231    HIGHER_RISK_OPTIONS: HIGHER_RISK_OPTIONS,
232    HIGHER_RISK_RATINGS: HIGHER_RISK_RATINGS,
233  };
234
235  root.IPQData = api;
236  if (typeof module === "object" && module.exports) module.exports = api;
237})(typeof window !== "undefined" ? window : globalThis);