In Reviewing Retirement Portfolios, Kim Determined the Probability of a Client

Multiple Choice

In reviewing retirement portfolios, Kim determined the probability of a client owning stock is 0.70 and the probability of owning a bond is 0.40. The probability of a customer who owns bonds already owning stock is 0.55. What is the probability a client owns both securities in their retirement portfolio?

A) 0.52
B) 0.30
C) 0.40
D) 0.39