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Free CFA-Level-I Exam Braindumps (page: 64)

Page 64 of 991
PDF with 3963 Questions

The investment community's need for a common, accepted set of guidelines to promote fair representation and full disclosure in every firm's presentation performance results to clients and prospective clients has guided the

development of the

  1. AIMR Standards for Calculation of Returns
  2. AIMR Standards of Practice
  3. AIMR Performance Presentation Standards
  4. AIMR Performance and Calculation Investment Board

Answer(s): C

Explanation:

The Performance Presentation are the manifestation of a set of guiding ethical principles and should be interpreted as minimum standards for presenting investment performance.



When an investment manager's client instructs the manager to use the client's brokerage to purchase goods or services for the client, this is known as:

  1. horizontal brokerage and does not violate any fiduciary duty.
  2. horizontal brokerage and violates the manager's fiduciary duty.
  3. directed brokerage and does not violate any fiduciary duty.
  4. straight brokerage and does not violate any fiduciary duty.
  5. straight brokerage and violates the manager's fiduciary duty.
  6. directed brokerage and violates the manager's fiduciary duty.

Answer(s): C

Explanation:

When an investment manager's client instructs the manager to use the client's brokerage to purchase goods or services for the client, this is known as directed brokerage. Because brokerage is an asset of the client and the brokerage is used to benefit that client, not the manager, such practice does not violate fiduciary duty.



If the use of leverage is ________, the performance presented must include the effects of the leverage.

  1. mandatory
  2. nondiscretionary
  3. discretionary
  4. optional

Answer(s): C

Explanation:

If the use of leverage is nondiscretionary (i.e. mandated by the client), performance must be presented on an all-cash basis.



Under the AIMR Code of Ethics, members shall practice and encourage others to practice in a professional and ethical manner that will reflect credit on members and their ________.

  1. families
  2. employer
  3. public contacts
  4. profession
  5. none of these answers

Answer(s): D

Explanation:

In accordance with the Standards, members will also strive to maintain and improve their competence and the competence of others in the profession.



Page 64 of 991



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

Birkha commented on September 27, 2024
NO comments
BHUTAN
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raba commented on September 26, 2024
@khorshal can i use this alone to pass the exams
Anonymous
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raba commented on September 26, 2024
some of the questions are straight forward
Anonymous
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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
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Jubran commented on September 26, 2024
Clear explanations and well-structured content made it so much easier to prepare and pass.
UNITED STATES
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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
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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
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raba commented on September 26, 2024
I was thinking question 16 should be a legacy systems
Anonymous
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Hong Kong
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Anonymous
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Murad commented on September 26, 2024
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Turkey
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raba commented on September 26, 2024
these are really good questions
Anonymous
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Kg commented on September 26, 2024
hi @phil , thank you for the response , basically i must just check wether the answers are correct
Anonymous
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Alhassan commented on September 26, 2024
these are really good questions
Anonymous
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Jose commented on September 26, 2024
these are really good questions
Anonymous
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David commented on September 26, 2024
good Questions
Anonymous
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Mohammed commented on September 26, 2024
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France
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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
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Madhan commented on September 26, 2024
Useful questions
INDIA
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Owol Sentmi commented on September 26, 2024
great Questions
Anonymous
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Noha commented on September 26, 2024
Feeling very confident now. Went over the free questions here then decided to buy the full PDF and test engine with the sale price and now ready to write my test. Will share my experience next week after I go for my exam. Wish me luck guys.
UNITED STATES
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Baylis commented on September 26, 2024
I am certified now. Thank you team.
UNITED STATES
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