G I V I N G G R E AT I N V E S T M E N T A D V I C E F O R L E S S

TARGET PORTFOLIO
QUESTIONNAIRE

At last, you no longer need to pay high commissions and fees
for great investment advice. Zions Direct has made it easy and
affordable for you to accomplish your investment objectives
by creating Target Portfolios.  
Consisting of exchange-traded funds (ETFs), Target Portfolios
give you the diversification to weather the ups and downs of
the market.You can purchase them for the low cost of $10.95
per ETF trade.
 
To find out which portfolio is best for you, simply complete
this short questionnaire. It will help you determine three key
investing factors:
Your Investment Objectives
What you want to do with your money plays a large role in
the level of potential risk and reward you select.
Examining these three factors will help you identify your
Investor Profile, which will in turn help you choose a Target
Profile.
Here’s what to do
1) Complete the questionnaire.
2) Figure your score and determine your Investor Profile.
3) Using your Investor Profile, select a Zions Direct Target Portfolio.
4) Work with Zions Direct to start investing.

• Call 1-800-524-8875, Monday–Friday, 6 a.m.–10 p.m. MT

Your Time Horizon
to speak with a Zions Direct representative.
The amount of time you can leave your money invested helps
• Visit www.zionsdirect.com for more information.
determine the level of potential risk and reward that’s best for
you. For example, a longer time horizon may call for a more
aggressive approach. COMPLETE THE QUESTIONNAIRE

Your Risk Tolerance

Some investments may have the potential for greater reward,
2043.11.28.05

but require a higher tolerance for risk. You need to feel com-
fortable about possible principal fluctuations in your portfolio.

TARGET PORTFOLIO QUESTIONNAIRE TARGET PORTFOLIO QUESTIONNAIRE

ZIONS DIRECT
TARGET PORTFOLIO QUESTIONNAIRE

1) How old are you? 5) What amount of money do you have set aside for
1. 65 and over emergencies? (This doesn’t include borrowings or
2. 45 to 64 credit lines, but does include funds that you can
3. 35 to 44 withdraw quickly in case of an emergency:
4. 25 to 34 checking, savings and money market accounts,
5. 24 and under CDs, money market funds, and investments in U.S.
Treasury and Agency Securities with a maturity
Generally speaking, the younger you are, the more risk you can of less than 3 years.)
accept. Over the long-term, assets invested in stocks have 1. None
outperformed other asset classes. The younger you are, the greater the 2. Enough to cover 3 months of expenses
percentage of your portfolio should be allocated to stocks. 3. Enough to cover 6 months of expenses
4. Enough to cover 9 months of expenses
2) How long do you want to invest? 5. Enough to cover more than 12 months
1. 1 year of expenses
2. 2 to 5 years
3. 6 to 10 years Generally speaking, the more you have in your emergency fund for
4. 11 to 20 years everyday necessities, the more risk you can handle.
5. 21 years or more
6) How much investing experience do you have?
Your investment time horizon may be independent of your age. For 1. None
example, if you are young and have a short time horizon, choose a 2. Minimal – you’ve invested in basic vehicles for a
portfolio that preserves principal. If you are young and have a long short amount of time
time horizon, consider a portfolio with more risk. 3. Some – you’ve invested in IRAs and employer
sponsored retirement plans for a few years but are
3) What is your primary objective for your investment? ready for additional investments
1. Preservation of Principal 4. Fair Amount – you’ve invested in a variety of
2. Current Income stocks and mutual funds for years and are
3. Growth and Income confident in your investing ability
4. Conservative Growth 5. Extensive – you’ve invested in most types of
5. Aggressive Growth investments and have a profound knowledge of
financial markets and strategies
Your savings, budget, and long-term goals help determine your overall
investment objective. If your goal is preservation of principal, choose a If you’re a more experienced investor, you may be comfortable with
less risky portfolio. If your goal is aggressive growth, be ready for much more risk. Conversely, if you have little or no investing experience,
more risk. you may want to choose a less risky portfolio to start with.
4) How do you expect your current income 7) Which of these investment vehicles are you most
to change? comfortable with?
1. Decrease dramatically 1. Savings accounts, CDs, and other short-term,
2. Decrease slightly FDIC-insured investments
3. Remain about the same 2. Income-producing bonds and bond mutual funds
4. Increase with the pace of inflation 3. Stock and bond mutual funds
5. Increase dramatically 4. Growth stocks and growth-stock mutual funds
5. Emerging growth stocks and aggressive-growth
You can’t invest more than you have, so you should invest accordingly. stock mutual funds
For example, a steep decline in your current income in the near future
would probably call for a portfolio with lower risk. You must feel comfortable with your portfolio’s level of potential risk.
Investing should not be a source of excessive stress or concern.
8) Which of the following are you most likely
to invest in?
1. An investment with a 20-year average annual
return of 4%, infrequent and slight downturns,
and zero periods of negative returns
2. An investment with a 20-year average annual
return of 6%, mostly positive returns, and periods
of less than a year with negative returns
3. An investment with a 20-year average annual
return of 8%, a few moderate downturns in
which the decline lasted less than six months,
and more than one year of negative returns
4. An investment with a 20-year average annual
return of 10%, several periods of positive returns,
and several periods of negative returns
5. An investment with a 20-year average annual
return of 12%, many periods of substantially
positive returns, and many periods of substantially
negative returns
In general, the higher the return you wish to earn, the greater the
fluctuations in your portfolio you should expect to endure.
IDENTIFYING YOUR INVESTOR PROFILE
To calculate your questionnaire score, simply add up the
numbers you circled on all of the questions. Answering a
1 equals 1 point.
Total Points_____________
Now, find your score in this table to identify your Investor
Profile.
score invesTor ProFile
8—12 points Conservative
13—20 points Moderately Conservative
21—28 points Moderate
29—36 points Moderately Aggressive
37—40 points Aggressive
Using your Investor Profile, you may now select your Zions
Direct target porfolio.
Investor PROFILE Descriptions
Conservative You have an investment time horizon of less
than 5 years, or you are at or near retirement and are relying
on income from your savings, retirement, and investments
to cover your living expenses.Your overall tolerance for risk
is extremely low; therefore, you’re only willing to accept
minimal principal fluctuations in return for current income.   
Moderately Conservative You have an investment time
horizon of less than 5 years, or you are at or near retirement
and are relying on income from your savings, retirement,
and investments to cover your living expenses.Your overall
tolerance for risk is moderately low; therefore, you’re willing
to tolerate principal fluctuation to achieve current income
that keeps pace with inflation.  
Moderate You have an investment time horizon between
6 and 10 years.You expect your income to remain about
the same or increase with the rate of inflation. If you’re in
retirement, you desire growth of principal in addition to
current income.You have some investment experience and are
willing to tolerate periods of negative rates of return in order
to achieve some capital appreciation.     
Moderately Aggressive Your investment time horizon is
more than 10 years, and you expect your income to increase
over time. If you’re in retirement, you want to achieve capital
appreciation, and you understand the accompanying risk
to your invested principal. Overall, you’re an experienced
investor and are comfortable with short-term negative rates of
return and loss of principal because, over time, you expect to
generate higher return on your overall investment.
Aggressive Your investment time horizon is more than
10 years.You expect your income to increase over time
and are looking to accumulate and grow your investment
portfolio to achieve your retirement income objectives. If
you’re in retirement, you want to achieve substantial capital
appreciation, and you understand the accompanying risk to
your invested principal. You’re a highly experienced investor
and are comfortable with negative rates of return and loss of
principal during some years because, over time, you expect to
generate substantial return on your overall investment.
Investment products offered by Zions Direct (Member NASD,
SIPC).
NOT FDIC-INSURED – NO BANK GUARANTEE – MAY LOSE VALUE

TARGET PORTFOLIO QUESTIONNAIRE TARGET PORTFOLIO QUESTIONNAIRE