Selecting an appropriate investment vehicle would not depend on

The correct answer is D. Insurability.

Liquidity is the ability to convert an asset into cash quickly and easily without loss of value. Tax benefit is a reduction in tax liability that results from an investment. Time horizon is the length of time an investor plans to hold an investment.

Insurability is the ability to obtain insurance coverage for a particular risk. It is not a factor that should be considered when selecting an investment vehicle.

Here is a more detailed explanation of each option:

• Liquidity: Liquidity is important because it allows investors to access their money when they need it. If an investment is not liquid, it may be difficult or impossible to sell it quickly and at a fair price. This could be a problem if an investor needs to raise cash for an emergency or to make a large purchase.
• Tax benefit: Tax benefits can make an investment more attractive by reducing the amount of tax that an investor pays on their investment income. For example, some investments, such as municipal bonds, are exempt from federal income tax. This can make them a good choice for investors in high tax brackets.
• Time horizon: The time horizon is the length of time an investor plans to hold an investment. This is an important factor to consider when selecting an investment because different investments are suited for different time horizons. For example, stocks are generally considered to be a good investment for long-term investors, while bonds are a good choice for investors with shorter time horizons.
• Insurability: Insurability is the ability to obtain insurance coverage for a particular risk. It is not a factor that should be considered when selecting an investment vehicle. This is because insurance is a separate product from an investment. Insurance is designed to protect against losses, while an investment is designed to generate returns.