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Test Prep CFA-Level-I Exam Questions
CFA® Level I Chartered Financial Analyst (Page 82 )

Updated On: 27-Feb-2026
Page 82 of 793
PDF with 3963 Questions

The Performance Presentation Standards are designed for

  1. investment consultants.
  2. current clients.
  3. prospective clients.
  4. all of these are beneficiaries of the AIMR Performance Presentation Standards.

Answer(s): D

Explanation:

The primary beneficiaries of the PPS are prospective clients who are attempting to compare performance of different investment firms. However, current clients attempting to evaluate their investment managers performance also benefit from the PPS. Consultants may also use the information when evaluating performance data.



Standard IV (B.6) deals with ________.

  1. Preservation of Confidentiality
  2. Prohibition against Use of Material Nonpublic Information
  3. None of these answers
  4. Disclosure of Referral Fees
  5. Priority of Transactions
  6. Disclosure of Conflicts to Clients and Prospects
  7. Prohibition against Misrepresentation
  8. Performance Presentation

Answer(s): G

Explanation:

Standard IV (B.6) prohibits members from making statements that misrepresent the services they are capable of performing, their qualifications and their academic or professional credentials.



What is the effective date for compliance with the AIMR-Performance Presentation Standards for non-U.S. and/ or non-Canadian investments and taxable portfolios?

  1. January 1, 1994
  2. January 1, 1993
  3. January 1, 1992
  4. January 1, 1995

Answer(s): A

Explanation:

From January 1, 1994, going forward, all of the firm's actual discretionary fee-paying portfolios invested in non-
E. S. and/or non-Canadian investments ("international portfolios") and taxable portfolios (both North American and international) must be presented in composites that adhere to the Standards.



Standard II (B) is known as ________.

  1. Professional Misconduct
  2. Fair Dealing
  3. Interactions with Clients and Prospects
  4. Preservation of Confidentiality
  5. None of these answers
  6. Prohibition against Use of Material Nonpublic Information
  7. Duty to Employer
  8. Investment Process

Answer(s): A

Explanation:

Standard IV (A) deals with the Investment Process. Standard III (B) deals with Duty to Employer. Standard IV (B.3) deals with Fair Dealing. Standard IV (B) deals with Interactions with Clients and Prospects. Standard V (A) deals with Prohibition against Use of Material Nonpublic Information. Standard IV (B.5) deals with Preservation of Confidentiality. Standard II (B) deals with Professional Misconduct.



Under Standard III (E) - Responsibilities of Supervisors - which of the following are NOT employees that are covered under this standard?

  1. Level I CFA candidates
  2. CFA charterholders
  3. None of these answers
  4. Non AIMR members
  5. CFA candidates
  6. AIMR members

Answer(s): D

Explanation:

As long as investment professionals have employees subject to their control or influence - whether or not the employees are AIMR members, CFA charterholders or candidates for the CFA designation - they exercise supervisory responsibility and hence, are subject to Standard III (E). The non-AIMR members themselves are not subject to compliance.






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