So when I calculated the liquidity requirement, I got 1.04*1.0065 - 1 = 4.676%. Even though it is in the 4.5 - 5% range, the range starts too low to meet the NEEDED return requirement of my 4.676% requirement, so I marked that as the statement that was wrong.
I always thought historically endowments have a higher risk tolerance due to the perpetual nature nd didn’t think that a 25% contribution to an operating budget is a show stopper for having a high risk tolerance. What gives?!?!