It’s interesting. So every portfolio under management must have an IPS that specifies a benchmark, and you have to base the benchmark on the risk tolerance. I guess I need to pass level 2, so that I can see what goes into matching different risk tolerances to different indicies. Did you read that article on the CFAI website on Model RFPs for selecting fund managers? I didn’t go into it in detail, but I’m sure proper benchmarking has got to be a major issue of concern. I’ve seen people who abandoned their IPS benchmark and try to report an entirely different after the fact that they outperformed one and not the other. Luckily, that was only in school, but I wonder if there are real fund managers that try to pull that kind of schenanigan.