Model Portfolios TAB indicates what regarding models?

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Multiple Choice

Model Portfolios TAB indicates what regarding models?

The main idea here is that the Model Portfolios tab is showing you the availability of ready-to-use templates. When it indicates default models are available, you can select prebuilt, standard model portfolios right away and then tailor them for a client if needed. This is different from saying no models exist (the tab would be empty), or that every model must go through an approval process (that would point to a workflow step, not simply availability), or that only custom models exist (which would exclude any prebuilt defaults).

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