CompTIA
Checkpoint
ISC
HP
Dell
EC-Council
EXIN
Fortinet
ITIL®
Juniper
PMI
Microsoft
VMware
Avaya
Google
Salesforce
Amazon
Palo Alto Networks
Certiport
ISC2
All Vendors
  2. Home
  3. Exams
  4. Test Prep
  5. CFA-Level-I

Free CFA-Level-I Exam Braindumps (page: 43)

Page 43 of 991
PDF with 3963 Questions

According to the AIMR PPS, composites must include new portfolios at the start of the next performance measurement period, ________, after the portfolio comes under management or according to reasonable and consistently applied firm guidelines.

  1. at least annually
  2. at least semi-annually
  3. at least quarterly
  4. at least monthly

Answer(s): C

Explanation:

Composites must include new portfolios at the start of the next performance measurement period (at least quarterly) after the portfolio comes under management or according to reasonable and consistently applied firm guidelines. This is a requirement for creation and maintenance of composites.



Procedures for compliance with Standard I include ________.

  1. activities relating to interns and people under contract
  2. keep informed
  3. when you suspect illegal activity, determine legality
  4. when you suspect illegal activity, dissociate from that activity
  5. all of these answers
  6. maintain current files
  7. review procedures

Answer(s): E

Explanation:

Members should maintain current reference copies of applicable statutes, rules and regulations in a readily accessible manner. Members should establish a procedure by which employees are kept informed about changes in applicable laws. Members should review procedures on a regular basis to ensure that they reflect current law and provide adequate guidance. When a member suspects illegal activity is being conducted, the member should consult counsel to determine the conduct's legality and dissociate from the conduct if there are reasonable grounds to believe that it is illegal. This applies to the activities of interns or contractors as well.



What is the effective date for compliance with the AIMR-Performance Presentation Standards for including accrued income in market value performance calculations?

  1. January 1, 1997
  2. January 1, 1993
  3. July 1, 1995
  4. January 1, 1992

Answer(s): A

Explanation:

From January 1, 1997, going forward, all of the firm's composites and performance presentations must include accrued income in market value performance calculations. In addition, all of the firm's performance presentations, including presentations of historical performance, must contain a measure of composite dispersion.



Wolfram Hitchwalker is a money manager with Armadillo Investments. He currently manages a few retirement accounts, clients who have a steady current income need and are averse to capital loss. Wolfram recently read a research report which concluded that the stock of HighFly, Inc. was a great buy because of a pending expansion plan into Southeast Asia which would double the profits of HighFly from foreign operations. Wolfram decided that the analysis was sound and that his clients could gain significantly if he bought the HighFly stock now and sold it once the price run-up occurred. Accordingly, he sold some of the fixed income securities in his client accounts and bought shares of HighFly. After two weeks, he sold the shares at a substantial profit and reinvested the funds back in fixed income securities. Wolfram has

  1. not violated any code of ethics since the investment was wise and made his clients better off.
    II. has violated Standard IV (1) - Reasonable Basis & Representations.
    III. has violated Standard IV (B.1) - Fiduciary Duties.
    IV. has violated Standard IV (B.2) - Portfolio Investment Recommendations and Actions.
  2. II and IV only
  3. III and IV only
  4. I only
  5. II only
  6. IV only
  7. III only

Answer(s): A

Explanation:

Even though the transaction turned out to be profitable for the clients ex post, the decision to invest in the stock was unwise ex ante. Wolfram should have recognized that his clients do not have the risk appetite for speculative securities, given their need for current income and preservation of the principal. Clearly, speculation in stocks is not an appropriate investment for these clients.



Page 43 of 991



Post your Comments and Discuss Test Prep CFA-Level-I exam with other Community members:

Elon commented on September 29, 2024
Hi! Has anyone attempted this exam recently? If so, please let me know if these questions are still relevant and appearing in the exam in the same format.
Anonymous
upvote

B commented on September 28, 2024
first time user, is this reliable
Anonymous
upvote

Parm commented on September 28, 2024
Good questions so far
UNITED STATES
upvote

Parm commented on September 28, 2024
Very good questions so far
UNITED STATES
upvote

Parminder commented on September 28, 2024
Good questions
UNITED STATES
upvote

Suresh G commented on September 28, 2024
Good content.
UNITED STATES
upvote

EG commented on September 28, 2024
Correct and explained answers. Thank you.
Anonymous
upvote

Haleem commented on September 28, 2024
This exam dump came to my rescue. Questions were very close to actual exam and I passed with 84%.
UNITED KINGDOM
upvote

krithika commented on September 28, 2024
Helpful ,Thank for the resources
Anonymous
upvote

Venkat commented on September 27, 2024
Preparing for certification
Anonymous
upvote

Nigel commented on September 27, 2024
Managed to pass my exam bu using the full version of this exam. This free version has less questions compared to PDF.
Spain
upvote

Kangaroo Jack commented on September 27, 2024
The best way to study and pass your exam. Quick and painless. The full PDF version is well worth the money.
AUSTRALIA
upvote

Ouahid commented on September 27, 2024
Thank you, it is very useful
AUSTRIA
upvote

Karlik commented on September 27, 2024
I passed the exam with help from this questions :)
Anonymous
upvote

Nate commented on September 27, 2024
Has anyone recently taken the exam? Can anyone confirm these questions are similar or word for word?
Anonymous
upvote

Birkha commented on September 27, 2024
NO comments
BHUTAN
upvote

raba commented on September 26, 2024
@khorshal can i use this alone to pass the exams
Anonymous
upvote

raba commented on September 26, 2024
some of the questions are straight forward
Anonymous
upvote

Judwa commented on September 26, 2024
This exam is super hard. I was overwhelmed. After using this exam dump, I went into the exam feeling a bit better. I passed my test. :-)
INDIA
upvote

Jubran commented on September 26, 2024
Clear explanations and well-structured content made it so much easier to prepare and pass.
UNITED STATES
upvote

KXK commented on September 26, 2024
The study guide was concise yet comprehensive. It helped me focus on the key topics and feel more prepared than ever!
INDIA
upvote

Chandra commented on September 26, 2024
I passed my exam with ease, thanks to the targeted material in this guide. It made a huge difference in how I prepared.
CANADA
upvote

raba commented on September 26, 2024
I was thinking question 16 should be a legacy systems
Anonymous
upvote

Bubba commented on September 26, 2024
Good work guys. The layout is user-friendly, and the content is spot on.
Hong Kong
upvote

rabihu commented on September 26, 2024
These are really challenging questions.i love it
Anonymous
upvote

Murad commented on September 26, 2024
This guide gave me the exact focus I needed to pass my exam on the first try. Highly effective and reliable.
Turkey
upvote

raba commented on September 26, 2024
these are really good questions
Anonymous
upvote

Kg commented on September 26, 2024
hi @phil , thank you for the response , basically i must just check wether the answers are correct
Anonymous
upvote

Alhassan commented on September 26, 2024
these are really good questions
Anonymous
upvote

Jose commented on September 26, 2024
these are really good questions
Anonymous
upvote

David commented on September 26, 2024
good Questions
Anonymous
upvote

Mohammed commented on September 26, 2024
Absolutely grateful for this exam dumps. Passed on the first set down.
France
upvote

Phil commented on September 26, 2024
Hi @kg I feel you. Based on my experience, the questions are valid but some of the answers were not accurate. So I managed to study and kinda figure these answers. For me the accuracy of the questions were more important and I saw most of them in the exam.
Anonymous
upvote

Madhan commented on September 26, 2024
Useful questions
INDIA
upvote