TOEIC® Part 7 の弱点を、1セットで診断。全5問・約6分｜解き終わると、設問タイプ別の正答率と弱点がわかります（無料・登録不要）模試1 の Q.176-180 にも入っています → 模試1 の一覧
Dear Mr. Contreras,
We are writing to inform you of an update to the annual management fees applied to advisory accounts, effective January 1. The revised schedule, attached below, replaces the flat 1.10% rate that has applied to all accounts since 2019.
Under the new structure, fees are tiered according to the value of your portfolio at the close of the previous quarter. Because the tiers are marginal, each portion of your balance is charged at the rate for its band, rather than a single rate applied to the whole amount. Clients whose portfolios exceed $2 million are also assigned a dedicated adviser at no additional cost.
As of the most recent quarter, your portfolio was valued at $1.4 million. We would be glad to review your allocation before the change takes effect; please note that any account closed before December 15 will not be subject to the new schedule.
If you have questions, your current adviser, Ms. Okonkwo, remains available at the number on file.
Sincerely,
Investor Services, Meridian Wealth Advisors
| Portfolio value (marginal tiers) | Annual rate |
|---|---|
| First $250,000 | 1.20% |
| $250,001 – $1,000,000 | 1.00% |
| $1,000,001 – $5,000,000 | 0.75% |
| Above $5,000,000 | 0.55% |
- Fees are calculated on the portfolio value at the close of the previous quarter and billed monthly.
- Accounts enrolled in the automatic reinvestment plan receive a 0.05-percentage-point reduction on every tier.
- The dedicated-adviser benefit applies only to portfolios above $2 million.
- This schedule does not apply to retirement accounts, which are governed by a separate agreement.
What is the main purpose of the e-mail?
- A To recommend a new investment product
- B To confirm that an account has been closed
- C To introduce a newly hired adviser
- D To notify a client of a change to management fees
Based on his portfolio value, what is the highest annual rate that will apply to any portion of Mr. Contreras's balance?
- A 0.75%
- B 1.20%
- C 1.00%
- D 1.10%
What do accounts in the automatic reinvestment plan receive?
- A A dedicated adviser
- B An exemption from monthly billing
- C A 0.05-percentage-point reduction on each tier
- D A return to the flat 1.10% rate
What is suggested about Mr. Contreras under the new structure?
- A He will not be assigned a dedicated adviser.
- B His entire balance will be charged at 0.75%.
- C His account is a retirement account.
- D He must close his account before December 15.
In the fee schedule, the word "governed" in Note 4 is closest in meaning to
- A elected
- B explained
- C reduced
- D regulated