Amazon
Avaya
Checkpoint
Cisco®
CompTIA
CrowdStrike
EC-Council
EXIN
Fortinet
Google
ISC
ISC2
ITIL®
Juniper
Microsoft
Okta
Palo Alto Networks
Salesforce
All Vendors
  1. Home
  2. Test Prep
  3. CFA-Level-I

Test Prep CFA-Level-I Exam (page: 51)
Test Prep CFA® Level I Chartered Financial Analyst
Updated on: 25-Dec-2025

Viewing Page 51 of 793
CFA-Level-I PDF 3963 Questions

Which of the following AIMR Standards states that the financial analyst shall indicate the basic characteristics of the investment involved when preparing a research report not directly related to a specific portfolio or client?

  1. III D
  2. III C
  3. None of these answers
  4. IV (A.2)

Answer(s): D

Explanation:

Standard IV (A.2) - Research Reports states: "Members shall indicate the basic characteristics of the investment involved when preparing for public distribution a research report that is not directly related to a specific portfolio or client."



Monserrat Troy is a portfolio analyst at Merryl Flynch Inc., a leading investment bank. Merryl's corporate policy prohibits its employees from trading in IPOs even if they are not being underwritten by Merryl. Recently, a fast- growing internet firm, Netblaze, announced that it was going public. Monserrat's friend, Victor, told her that he could get her bid in for a few shares of the IPO. The size of the deal was very small, amounting to less than a couple of thousand dollars. Monserrat went ahead and bought the shares but did not think it was necessary to inform her supervisor about it. She:

  1. violated Standard II (B) - Professional Misconduct - by violating company policy.
  2. did not violate the AIMR code of conduct even though she violated the company policy since the size of her transaction was extremely small.
  3. violated Standard III (B) - Duty to Employer - by violating company policy.
  4. violated Standard III (C) - Disclosure of Conflicts to Employer - by violating company policy.

Answer(s): D

Explanation:

Merryl's policy is designed to prevent any conflicts or even appearances of conflicts of interest when its employees trade in capital markets. If Monserrat wants to trade in a particular IPO, she needs to obtain special permission from Merryl's Compliance department (and such permission may or may not be granted by Compliance). Without such an exception, Monserrat's behavior is a violation of Standard III(C) - Disclosure of Conflicts to Employer. Note that Standards II (B) and III (B) do not apply to this situation.



The investment community's need for a common, accepted set of guidelines to promote fair representation and full disclosure in every firm's presentation performance results to clients and prospective clients has guided the

development of the

  1. AIMR Standards for Calculation of Returns
  2. AIMR Standards of Practice
  3. AIMR Performance Presentation Standards
  4. AIMR Performance and Calculation Investment Board

Answer(s): C

Explanation:

The Performance Presentation are the manifestation of a set of guiding ethical principles and should be interpreted as minimum standards for presenting investment performance.



When an investment manager's client instructs the manager to use the client's brokerage to purchase goods or services for the client, this is known as:

  1. horizontal brokerage and does not violate any fiduciary duty.
  2. horizontal brokerage and violates the manager's fiduciary duty.
  3. directed brokerage and does not violate any fiduciary duty.
  4. straight brokerage and does not violate any fiduciary duty.
  5. straight brokerage and violates the manager's fiduciary duty.
  6. directed brokerage and violates the manager's fiduciary duty.

Answer(s): C

Explanation:

When an investment manager's client instructs the manager to use the client's brokerage to purchase goods or services for the client, this is known as directed brokerage. Because brokerage is an asset of the client and the brokerage is used to benefit that client, not the manager, such practice does not violate fiduciary duty.



If the use of leverage is ________, the performance presented must include the effects of the leverage.

  1. mandatory
  2. nondiscretionary
  3. discretionary
  4. optional

Answer(s): C

Explanation:

If the use of leverage is nondiscretionary (i.e. mandated by the client), performance must be presented on an all-cash basis.



Viewing Page 51 of 793



Share your comments for Test Prep CFA-Level-I exam with other users:

Sonia 7/23/2023 4:03:00 PM

very helpfull
UNITED STATES


binEY 10/6/2023 5:15:00 AM

good questions
Anonymous


Neha 9/28/2023 1:58:00 PM

its helpful
Anonymous


Desmond 1/5/2023 9:11:00 PM

i just took my oracle exam and let me tell you, this exam dumps was a lifesaver! without them, iam not sure i would have passed. the questions were tricky and the answers were obscure, but the exam dumps had everything i needed. i would recommend to anyone looking to pass their oracle exams with flying colors (and a little bit of cheating) lol.
SINGAPORE


Davidson OZ 9/9/2023 6:37:00 PM

22. if you need to make sure that one computer in your hot-spot network can access the internet without hot-spot authentication, which menu allows you to do this? answer is ip binding and not wall garden. wall garden allows specified websites to be accessed with users authentication to the hotspot
Anonymous


381 9/2/2023 4:31:00 PM

is question 1 correct?
Anonymous


Laurent 10/6/2023 5:09:00 PM

good content
Anonymous


Sniper69 5/9/2022 11:04:00 PM

manged to pass the exam with this exam dumps.
UNITED STATES


Deepak 12/27/2023 2:37:00 AM

good questions
SINGAPORE


dba 9/23/2023 3:10:00 AM

can we please have the latest exam questions?
Anonymous


Prasad 9/29/2023 7:27:00 AM

please help with jn0-649 latest dumps
HONG KONG


GTI9982 7/31/2023 10:15:00 PM

please i need this dump. thanks
CANADA


Elton Riva 12/12/2023 8:20:00 PM

i have to take the aws certified developer - associate dva-c02 in the next few weeks and i wanted to know if the questions on your website are the same as the official exam.
Anonymous


Berihun Desalegn Wonde 7/13/2023 11:00:00 AM

all questions are more important
Anonymous


gr 7/2/2023 7:03:00 AM

ques 4 answer should be c ie automatically recover from failure
Anonymous


RS 7/27/2023 7:17:00 AM

very very useful page
INDIA


Blessious Phiri 8/12/2023 11:47:00 AM

the exams are giving me an eye opener
Anonymous


AD 10/22/2023 9:08:00 AM

3rd so far, need to cover more
Anonymous


Matt 11/18/2023 2:32:00 AM

aligns with the pecd notes
Anonymous


Sri 10/15/2023 4:38:00 PM

question 4: b securityadmin is the correct answer. https://docs.snowflake.com/en/user-guide/security-access-control-overview#access-control-framework
GERMANY


H.T.M. D 6/25/2023 2:55:00 PM

kindly please share dumps
Anonymous


Satish 11/6/2023 4:27:00 AM

it is very useful, thank you
Anonymous


Chinna 7/30/2023 8:37:00 AM

need safe rte dumps
FRANCE


1234 6/30/2023 3:40:00 AM

can you upload the cis - cpg dumps
Anonymous


Did 1/12/2024 3:01:00 AM

q6 = 1. download odt application 2. create a configuration file (xml) 3. setup.exe /download to download the installation files 4. setup.exe /configure to deploy the application
FRANCE


John 10/12/2023 12:30:00 PM

great material
Anonymous


Dinesh 8/1/2023 2:26:00 PM

could you please upload sap c_arsor_2302 questions? it will be very much helpful.
Anonymous


LBert 6/19/2023 10:23:00 AM

vraag 20c: rsa veilig voor symmtrische cryptografie? antwoord c is toch fout. rsa is voor asymmetrische cryptogafie??
NETHERLANDS


g 12/22/2023 1:51:00 PM

so far good
UNITED STATES


Milos 8/4/2023 9:33:00 AM

question 31 has obviously wrong answers. tls and ssl are used to encrypt data at transit, not at rest.
Serbia And Montenegro


Diksha 9/25/2023 2:32:00 AM

pls provide dump for 1z0-1080-23 planning exams
Anonymous


H 7/17/2023 4:28:00 AM

could you please upload the exam?
Anonymous


Anonymous 9/14/2023 4:47:00 AM

please upload this
UNITED STATES


Naveena 1/13/2024 9:55:00 AM

good material
Anonymous