What does the C++ standard mean regarding object lifetime begins?

Question

In the n3690 C++ standard in section 3.8.1 there is this text:

The lifetime of an object of type T begins when:
— storage with the proper alignment and size for          


        

Answer 1

12.6.2, [class.base.init], item 6, lists the steps of initialization, and this is the final one:

Finally, the compound-statement of the constructor body is executed.

So once the body has executed, initialization is complete.