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

Free Test Prep CFA-Level-I Real Questions (page: 46)

Which standard deals with the Prohibition against Use of Material Nonpublic Information?

  1. III
  2. III (4)
  3. IV (B.4)
  4. IV (B.5)
  5. V (A)
  6. III (B.2)

Answer(s): E

Explanation:

Standard V (A) - Prohibition against Use of Material Nonpublic Information, states that "members who possess material nonpublic information related to the value of a security shall not trade in that security if such trading would breach a duty or if the information was misappropriated or relates to a tender offer."



An investment recommendation can be disseminated to clients via each of the following methods, EXCEPT:

  1. through a brief update report.
  2. by addition to a recommended list.
  3. by oral communication.
  4. through an initial detailed research report.
  5. by deletion from a recommended list.
  6. all of these answers are acceptable methods.

Answer(s): F

Explanation:

According to Standard IV (B.3) - Fair Dealing, an investment recommendation is any opinion expressed by a member in regard to purchasing, selling or holding a given security or other investment. All of the methods listed are acceptable for dissemination.



Parts of the standards that are ________ must be observed.

  1. recommended
  2. suggested
  3. mandatory
  4. restraining
  5. inhibiting

Answer(s): C

Explanation:

Some aspects of the Performance Presentation Standards are mandatory and must be observed, while other aspects are recommended.



A manager who pays a higher commission than would normally be paid to purchase the goods or services:

  1. may be violating the fiduciary duties owed to the client.
  2. none of these answers.
  3. is violating the fiduciary duties owed to the client.
  4. is not violating the fiduciary duties owed to the client.

Answer(s): C

Explanation:

This practice is commonly referred to as "paying up" for services.



Relationships with and Responsibilities to the Employer are dealt with under:

  1. Standard II
  2. Standard I
  3. Standard V
  4. Standard III
  5. None of these answers
  6. Standard IV

Answer(s): D

Explanation:

Relationships with and Responsibilities to the Employer are dealt with under Standard III.



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