Automated assessment of personal financial risk tolerance
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United States of America Patent
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Feb 22, 2005
Grant Date -
N/A
app pub date -
Dec 10, 1999
filing date -
Dec 10, 1998
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Abstract
A method and system for the automated assessment of personal financial risk tolerance comprises a data means for receiving responses to a series of questions, with each response being one of a number of choice represented by a numerical value falling within a predetermined range, spanning least risk tolerance to most risk tolerance. Software instructions, implemented on a computer, are used to automatically substitute a z-score for each of the numerical value responses, based on predetermined norms, and then to determine a risk tolerance score from the z-scored answers by summing the z-scored answers, and z-scoring and scaling the calculated sum. The risk tolerance score is categorized within one of a number of pre-defined risk group bands, and a report is generated to the respondent containing information particular to the relevant risk group band and the individual's characteristics in relation to that band.
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