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Free CFA-Level-I Exam Braindumps (page: 30)

Page 29 of 991
PDF with 3963 Questions

Standard II includes rules on which of the following?

  1. Professional Misconduct
  2. Prohibition against Plagiarism
  3. All of these answers
  4. Use of Professional Designation

Answer(s): C

Explanation:

Standard II - Relationships with and Responsibilities to the Profession - includes rules on the use of Professional Designation, Professional Misconduct and Prohibition against Plagiarism.



Standard III (C) deals with conflicts of interest of a member with ________.

  1. colleagues at the same firm
  2. the employer
  3. none of these answers
  4. the client
  5. other investment professionals
  6. the investing public

Answer(s): B

Explanation:

Standard III (C) deals with conflicts of interest in any actions or decisions of a member and focuses on responsibility to the employer. By complying with employer guidelines, members allow their employers to avoid potentially embarrassing and costly violations.



Which of the following AIMR Standards states that the financial analyst must exercise diligence and thoroughness in making investment recommendations or taking investment actions?

  1. III B
  2. IV A.1
  3. I
  4. None of these answers

Answer(s): B

Explanation:

Standard IV (A.1) - Reasonable Basis and Representations states: "Members shall exercise diligence and thoroughness in making investment recommendations or in taking investment actions."



Various countries' securities laws permit a manager to pay up for goods and services without violating the manager's fiduciary duty, so long as the requirements of the law are followed. Each of the following are typical requirements, except:

  1. the goods or services purchased must be for "brokerage service."
  2. the commission paid must be reasonable in relation to the research and execution services received.
  3. none of these answers.
  4. at all times, the manager must seek best price and execution.
  5. the manager's soft-dollar practice must be disclosed.

Answer(s): A

Explanation:

The good and services purchased must be for "research service."






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