This question asked for a calculation of the upper limit and the return point for the Miller-Orr model, and the majority of answers did this successfully. Most answers indicated the need to invest cash at the upper limit and to generate cash at the lower limit, but the use of short-term securities in this respect was less frequently explained. Few answers went on to discuss or explain the objective of keeping the cash balance between the two limits, i.e. the importance of the return point.