Under the Performance Presentation Standards, asset-weighting of portfolio returns within a composite is required. The ________ of period weightings must be used.
Answer(s): A
Composites must be asset weighted using beginning-of-period weightings.
ERISA fiduciaries must adhere to the following prudent procedures:- establish a written investment policy for the plan- ________ plan assets - make investment decisions with the skill and care of aprudent expert- monitor investment performance- control investment expenses - avoid prohibited transactions
Answer(s): E
These procedures are stipulated under the detailing of ERISA fiduciary duties, to ensure that the fiduciary complies with the duty to act with prudence.
Which of the following is/are true about claims of compliance with the AIMR-PPS?
Answer(s): C
A firm cannot claim partial compliance with the PPS. It is either fully compliant or non-compliant. Further, statements referring to the calculation methodologies being in accordance with the PPS are explicitly prohibited; the PPS are mainly presentation standards, not measurement standards. Violations are punishable by public censure, membership suspension and revocation of CFA charter.
Regarding beneficiaries and remaindermen, current life-income beneficiaries prefer to receive ________; remaindermen would rather have ________.
Answer(s): B
Trustees recognize a conflict of interests often exists between the primary or current beneficiaries of a trust and the remaindermen (secondary or later beneficiaries of the trust). Current life-income beneficiaries would prefer to receive a high rate of current income; remaindermen would rather have growth and stability of principal.Trustees thus have a duty to exercise their best skill and care to serve all beneficiaries impartially and with equal consideration of their needs.
Abra, a vice-president at Mahogany, Inc., recently revealed - quite inadvertently - information about the tender offer from Mahogany to Kadabra, his friend who works for a rival firm. Kadabra, in turn, shared this information with his trading buddy, Cosmo. Cosmo immediately recognized that in light of this information, he was better off not participating in the offer. He went ahead and shorted the stock of Mahogany and reaped a tidy profit of about a hundred thousand dollars in a month's time when Mahogany tanked. In this case:
This case is similar to the precedent set by United States vs. Chestman. According to the decision in the Chestman case, Kadabra was a "gratuitous recipient" of inside information and as such, had no responsibility to maintain its confidentiality. One party - according to this ruling - cannot unilaterallyimpose a relationship of confidence on another by simply sharing information. Thus, while Kadabra is a tippee, he has no fiduciary duty toward Mahogany. Now, the traditional theory applies only when there is a breach of a direct or inherited fiduciary duty or if the insider trading occurs in a tender offer and the trading is done by an insider or a tippee.So if an outsider - including Cosmo - received and traded based on this information, he could not be held liable under the Traditional Theory or the Misappropriation Theory. However, if Kadabra had traded for his own account, he would be liable under both the theories as well as under Rule 14e-3.
Share your comments for Test Prep CFA® LEVEL 1 exam with other users:
this exam dumps just did the job. i donot want to ruffle your feathers but your exam dumps and mock test engine is amazing.
nice questions
the explanation are really helpful
just passed my exam yesterday on my first attempt. these dumps were extremely helpful in passing first time. the questions were very, very similar to these questions!
cosmos db is paas not saas
what is the percentage of common questions in gcp exam compared to 197 dump questions? are they 100% matching with real gcp exam?
not able to see questions
by far one of the best sites for free questions. i have pass 2 exams with the help of this website.
excellent question bank.
it really helped
excelent material
the new versoin of this exam which i downloaded has all the latest questions from the exam. i only saw 3 new questions in the exam which was not in this dump.
question 8 - can cloudtrail be used for storing jobs? based on aws - aws cloudtrail is used for governance, compliance and investigating api usage across all of our aws accounts. every action that is taken by a user or script is an api call so this is logged to [aws] cloudtrail. something seems incorrect here.
question 13 tda - c01 answer : quick table calculation -> percentage of total , compute using table down
pls share teh dump
question 44 answer is user risk
please post the questions for preparation
thanks for the questions
please reopen it now ..its really urgent
these practice exam questions were exactly what i needed. the variety of questions and the realistic exam-like environment they created helped me assess my strengths and weaknesses. i felt more confident and well-prepared on exam day, and i owe it to this exam dumps!
thank u it very instructuf
its helpful?
is this dump still valid???
question 205 answer is b
question 39, should be answer b, directions stated is being sudneted from /21 to a /23. a /23 has 512 ips so 510 hosts. and can make 4 subnets out of the /21
beautiful test engine software and very helpful. questions are same as in the real exam. i passed my paper.
the questions are exactly the same in real exam. just make sure not to answer all them correct or else they suspect you are cheating.
question: 78 the right answer i think is d not a
very helpful
i am writing this exam tomorrow and have dumps
can i have the icdl excel exam
please upload it
hye when will post again the past year question for this h13-311_v3 part since i have to for my test tommorow…thank you very much
on question 22, option b-once per session is also valid.