Yes. The questionnaire design has many rigorous steps which are outlined below.
Review the bank of questions available to ensure suitability for the expected user base
- Trial the questions with clients receiving advice
- Assess the questionnaire validity using statistical analysis
- Select the questions to ensure the range
- Allocate the scoring algorithm using independent expert groups
- Retest the questionnaire to ensure statistical robustness.
- Are clear
- Avoid complex language language
- Don't require prior investment knowledge
- Are not biased in the way they ask the question
- Are tested to be statistically proven to be representative of a client's risk
- Cover areas of emotional, scenario setting, past behaviour and self-assessment