In order to comply with Standard IV (B.4), Priority of Transactions, firms should prepare and distribute to firm personnel a code of ethics and compliance procedures. The code and procedures should do all of the following, EXCEPT:
Answer(s): F
The question deals with the compliance procedures under Standard IV (B.4). Personal transactions must be defined to all employees. The number of access persons - those who have knowledge of pending or actual recommendations or action - should be limited, by implementing Fire Walls. A reporting system for all employees' personal transactions should be established, as well as procedures for special situations. Authority should be given to a compliance officer to enforce the procedures, which should include disciplinary action.Maintaining lists of client holdings is NOT a compliance procedure under Standard IV (B.4), but Standard IV (B.3).
The procedures for compliance with Standard IV (B.8), Disclosure of Referral Fees, recommend that you disclose all referral agreements ________.
Answer(s): D
Under Standard IV (B.8), members should disclose all agreements in order to be in compliance. Members should disclose, in writing, the existence and terms of any referral agreement to any client or prospective client as soon as the member learns that the client or prospective client has been referred by a firm receiving a referral fee.
When taking on a new affiliation while working for his present employer, a member should:
The procedures for compliance with Standard III (B) state that members should not render services until receiving written consent from their employer to all of the terms of the arrangement, after having provided written statements describing the types of services to be rendered to independent affiliations. A member should also disclose to prospective clients the identity of the member's employer and clarify that the member is performing independently of the employer. The member should not render services until the client gives consent in writing indicating that the client has read and understood the member's written disclosure statement.
Relationships with and Responsibilities to the Profession are dealt with under:
Answer(s): A
Relationships with and Responsibilities to the Profession are dealt with under Standard II.
Which AIMR standard states that members must inform employers of their duty to comply with the Code and Standards and must deliver a copy to their employers?
Answer(s): C
Standard III (A) Obligation to Inform Employer of Code and Standards states: Members shall: "(1) Inform their employer in writing, through their direct supervisor, that they are obligated to comply with the Code and Standards and are subject to disciplinary sanctions for violations thereof, and (2) Deliver a copy of the Code and Standards to their employer if the employer does not have a copy."
Share your comments for Financial CFA Level 1 exam with other users:
good exam questions
I have to say this is really close to real exam. Passed my exam with this.
good analytics question
this looks accurate
question 46, the answer should be data "virtualization" (not visualization).
its useful.
Pass this exam 3 days ago. The PDF version and the Xengine App is quite useful.
informative for me.
question 134s answer shoule be "dlp"
in 72 the answer must be [sys_user_has_role] table.
i appreciated the mix of multiple-choice and short answer questions. i passed my exam this morning.
great to find this website, thanks
examination questions seem to be relevant.
planning to take psm test
please allow to download
please provide dumps
is the answer to question 15 correct ? i feel like the answer should be b
its getting more technical
i think these questions are what i need.
helpful assessment
i am confused about the answers to the questions. do you know if the answers are correct?
hi, please make the dumps available for my upcoming examination.
good practice
so far it is really informative
hi i want it please please upload it
am preparing for exam ,just nice questions
please upload c_tadm_23 exam
can we get tdvan4 vantage data engineering pdf?
want to clear the exam.
could you please upload the dumps of sap c_sac_2302
asm management configuration is about storage
kool thumb up
just passed the az-500 exam this last friday. most of the questions in this exam dumps are in the exam. i bought the full version and noticed some of the questions which were answered wrong in the free version are all corrected in the full version. this site is good but i wish the had it in an interactive version like a test engine simulator.
i can practice for exam