Test Prep CFA® Level I Chartered Financial Analyst CFA® LEVEL 1 Dumps in PDF

Free Test Prep CFA® LEVEL 1 Real Questions (page: 65)

Firms with records or performance calculations for periods prior to the effective dates for AIMR-PPS compliance can still claim compliance with the PPS using which of the following methods?

  1. Restate all of its performance numbers in accordance with the standards.
    II. Continue to use the non-conforming performance measures with specific disclosures about how the measures are not in compliance.
    III. Use the relaxed standards of AIMR designed specifically for this situation.
  2. I, II and III
  3. I only
  4. I and II only
  5. I and III only

Answer(s): A

Explanation:

All three are acceptable ways in which firms with records or performance calculations for periods prior to the effective dates for AIMR-PPS compliance can continue to claim compliance with the PPS. This is known as "Retroactive Compliance."



According to the AIMR-PPS, composites must be asset weighted using

  1. end-of-period weightings.
  2. middle-of-period weightings.
  3. performance-period weightings.
  4. beginning-of-period weightings.

Answer(s): D

Explanation:

Composites must be asset weighted using beginning-of-period weightings. This is a requirement for calculation of returns.



Which of the following is not a required disclosure for real estate investments under the Performance Presentation Standards?

  1. amount of leverage used
  2. return formulas
  3. all of these answers
  4. accounting policies for capital expenditures

Answer(s): A

Explanation:

The performance presentation for real estate must disclose the return formulas and accounting policies for such items as capital expenditures, tenant improvements and leasing commissions. There is no requirement or recommendation that the amount of leverage used be disclosed under the 1997 standards.



Regarding Standard III (A), which of the following is true?

  1. If the employer has publicly acknowledged, in writing, adoption of AIMR's Code and Standards as part of its firm policies, then the member need not give formal written notification.
  2. A member does not have to notify the supervisor, if the supervisor is a CFA charterholder.
  3. Notification must be given to the chief operating officer (or equivalent), orally or in writing.
  4. Notification must always be given, orally or in writing.
  5. None of these answers is true.

Answer(s): A

Explanation:

"Members shall inform their employer, in writing, through their direct supervisor, that they are obligated to comply with the Codes and Standards and are subject to disciplinary sanctions for violations thereof." However, if the employer has publicly acknowledged, in writing, adoption of AIMR's Code and Standards as part of its firm policies, then the member need not give formal written notification. Subordinate employees cannot assume that their supervisors are aware of the obligations, even if the supervisors are AIMR members.



Misrepresentation of performance is prohibited by section ________ of the Standards of Professional Conduct.

  1. II (E)
  2. III (F)
  3. V (B)
  4. IV (E)
  5. III (A)

Answer(s): C

Explanation:

Standard V (B) states "Members shall not make any statements, orally or in writing, that misrepresent the investment performance that they or their firm have accomplished or can reasonably be expected to achieve."



Share your comments for Test Prep CFA® LEVEL 1 exam with other users:

F
FisherGirl
5/16/2022 10:36:00 PM

the interactive nature of the test engine application makes the preparation process less boring.

C
Chiranthaka
9/20/2023 11:15:00 AM

very useful.

S
SK
7/15/2023 3:51:00 AM

complete question dump should be made available for practice.

G
Gamerrr420
5/25/2022 9:38:00 PM

i just passed my first exam. i got 2 exam dumps as part of the 50% sale. my second exam is under work. once i write that exam i report my result. but so far i am confident.

K
Kudu hgeur
9/21/2023 5:58:00 PM

nice create dewey stefen

A
Anorag
9/6/2023 9:24:00 AM

i just wrote this exam and it is still valid. the questions are exactly the same but there are about 4 or 5 questions that are answered incorrectly. so watch out for those. best of luck with your exam.

N
Nathan
1/10/2023 3:54:00 PM

passed my exam today. this is a good start to 2023.

1
1
10/28/2023 7:32:00 AM

great sharing

A
Anand
1/20/2024 10:36:00 AM

very helpful

K
Kumar
6/23/2023 1:07:00 PM

thanks.. very helpful

U
User random
11/15/2023 3:01:00 AM

i registered for 1z0-1047-23 but dumps qre available for 1z0-1047-22. help me with this...

K
kk
1/17/2024 3:00:00 PM

very helpful

R
Raj
7/24/2023 10:20:00 AM

please upload oracle 1z0-1110-22 exam pdf

B
Blessious Phiri
8/13/2023 11:58:00 AM

becoming interesting on the logical part of the cdbs and pdbs

L
LOL what a joke
9/10/2023 9:09:00 AM

some of the answers are incorrect, i would be wary of using this until an admin goes back and reviews all the answers

M
Muhammad Rawish Siddiqui
12/9/2023 7:40:00 AM

question # 267: federated operating model is also correct.

M
Mayar
9/22/2023 4:58:00 AM

its helpful alot.

S
Sandeep
7/25/2022 11:58:00 PM

the questiosn from this braindumps are same as in the real exam. my passing mark was 84%.

E
Eman Sawalha
6/10/2023 6:09:00 AM

it is an exam that measures your understanding of cloud computing resources provided by aws. these resources are aligned under 6 categories: storage, compute, database, infrastructure, pricing and network. with all of the services and typees of services under each category

M
Mars
11/16/2023 1:53:00 AM

good and very useful

R
ronaldo7
10/24/2023 5:34:00 AM

i cleared the az-104 exam by scoring 930/1000 on the exam. it was all possible due to this platform as it provides premium quality service. thank you!

P
Palash Ghosh
9/11/2023 8:30:00 AM

easy questions

N
Noor
10/2/2023 7:48:00 AM

could you please upload ad0-127 dumps

K
Kotesh
7/27/2023 2:30:00 AM

good content

B
Biswa
11/20/2023 9:07:00 AM

understanding about joins

J
Jimmy Lopez
8/25/2023 10:19:00 AM

please upload oracle cloud infrastructure 2023 foundations associate exam braindumps. thank you.

L
Lily
4/24/2023 10:50:00 PM

questions made studying easy and enjoyable, passed on the first try!

J
John
8/7/2023 12:12:00 AM

has anyone recently attended safe 6.0 exam? did you see any questions from here?

B
Big Dog
6/24/2023 4:47:00 PM

question 13 should be dhcp option 43, right?

B
B.Khan
4/19/2022 9:43:00 PM

the buy 1 get 1 is a great deal. so far i have only gone over exam. it looks promissing. i report back once i write my exam.

G
Ganesh
12/24/2023 11:56:00 PM

is this dump good

A
Albin
10/13/2023 12:37:00 AM

good ................

P
Passed
1/16/2022 9:40:00 AM

passed

H
Harsh
6/12/2023 1:43:00 PM

yes going good

AI Tutor 👋 I’m here to help!