The Performance Presentation Standards are designed for
Answer(s): D
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 ________.
Answer(s): G
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?
Answer(s): A
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 ________.
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?
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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