GBI buckets assets?

CFA Level III Portfolio Management
#1

Jamie has a private business valued at $2.2 million, short-term Treasury bills valued at $300,000, and a private residence valued at $1.1 million (with a $400,000 mortgage). Which of the following risk buckets would least likely contain his assets?

a. Aspirational risk bucket.
b. Market risk bucket
c. Personal risk bucket.

answer.
B
The market risk bucket contains assets that maintain the client’s standard of living, and include equities (stocks) and medium or long-term bonds. Jamie’s private business is included in the aspirational risk bucket, while his private residence (net of the mortgage) and short-term bonds are included in the personal risk bucket.

(Study Session 13, Module 31.2, LOS 31.f)

in the above question, I don’t really understand what the question mean by “contain his assets”?

ain’t everything mentioned technically his assets?

#2

At each layer is associated a goal and each goal is funded with a different asset class, depending on the importance of the goal:

  • More important goals are funded with low risk assets: personal risk bucket goal is to prevent from poverty, a very important goal then is funded with treasury
  • Less important goals are funded with high risk assets: aspirational risk bucket goal is to increase the standard of life, a less important goal (compared to poverty) then is funded with riskier assets