5/19/25, 12:57 PM IACCP Master QBank (2025) ACTUAL EXAM (TESTING REAL EXAM QUESTIONS) AND VERIFIED ANSWERS (MULTIPLE CH…
IACCP Master QBank (2025) ACTUAL EXAM
(TESTING REAL EXAM QUESTIONS) AND
VERIFIED ANSWERS (MULTIPLE CHOICES)
|COMPLETE SOLUTIONS |A+ GRADED |100%
CORRECT!!
Save
Terms in this set (170)
The SMC Capital, Inc. No- B. On a pro rata basis but other allocation methods
Action Letter (September can be used without violating the Advisers Act
5, 1995) states that trade
allocations may occur:
A. Only on a rotational
basis
B. On a pro rata basis but
other allocation methods
can be used without
violating the Advisers Act
C. Only on a pro rata basis
D. Based on the trader's
good faith discretion
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,5/19/25, 12:57 PM IACCP Master QBank (2025) ACTUAL EXAM (TESTING REAL EXAM QUESTIONS) AND VERIFIED ANSWERS (MULTIPLE CH…
Which of the following C. Availability of affiliated brokerage services
should NOT be a factor
when evaluating best
execution?
A. Price
B. Transaction costs
C. Availability of affiliated
brokerage services
D. Service and execution
capability
Under the safe harbor C. Portfolio management software used to calculate
provided by Section 28(e) client returns
of the Securities and
Exchange Act of 1934, a
"mixed use"
product/service,
purchased with soft
dollars, most likely refers
to which of the following:
A. A research newsletter
used by analysts
B. A computer terminal
used only to place client
trades
C. Portfolio management
software used to calculate
client returns
D. A junket to Pebble
Beach for golf
https://quizlet.com/1045690767/iaccp-master-qbank-2025-actual-exam-testing-real-exam-questions-and-verified-answers-multiple-choices-complete… 2/141
,5/19/25, 12:57 PM IACCP Master QBank (2025) ACTUAL EXAM (TESTING REAL EXAM QUESTIONS) AND VERIFIED ANSWERS (MULTIPLE CH…
An adviser's valuation A. Large cap stocks
procedures should,
practically speaking, be
prepared with the LEAST
attention to:
A. Large cap stocks
B. Illiquid investments
C. Foreign issues
D. Micro cap stocks
Agency cross transactions C. Consent from at least two advisory clients
do NOT require:
A. Annual disclosure to
advisory clients of the
number of agency cross
transactions
B. Annual disclosure of the
total remuneration
received by the adviser
through agency cross
transactions
C. Consent from at least
two advisory clients
D. Disclosures that written
consent may be revoked
at any time
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, 5/19/25, 12:57 PM IACCP Master QBank (2025) ACTUAL EXAM (TESTING REAL EXAM QUESTIONS) AND VERIFIED ANSWERS (MULTIPLE CH…
"Bailey disclosure" refers D. All of the above
to the concept of advising
clients of the effect of
directing the adviser to
use a particular broker(s).
Disclosure about the
ramifications of brokerage
direction should include:
A. Potential conflicts of
interest when a directed
broker referred the client
to the adviser
B. Limits on the ability of
the adviser to negotiate
commissions
C. Restrictions on placing
directed trades with other
client trades
D. All of the above
Which of the following C. Commissions generated from ERISA plan
statements is FALSE? transactions may never be used to generate soft
A. Trade errors must be dollars.
resolved for the client's
benefit.
B. Principal transactions
require consent prior to
settlement.
C. Commissions generated
from ERISA plan
transactions may never be
used to generate soft
dollars.
D. An adviser's fiduciary
duty includes allocating
investment opportunities
fairly and equitably.
https://quizlet.com/1045690767/iaccp-master-qbank-2025-actual-exam-testing-real-exam-questions-and-verified-answers-multiple-choices-complete… 4/141
IACCP Master QBank (2025) ACTUAL EXAM
(TESTING REAL EXAM QUESTIONS) AND
VERIFIED ANSWERS (MULTIPLE CHOICES)
|COMPLETE SOLUTIONS |A+ GRADED |100%
CORRECT!!
Save
Terms in this set (170)
The SMC Capital, Inc. No- B. On a pro rata basis but other allocation methods
Action Letter (September can be used without violating the Advisers Act
5, 1995) states that trade
allocations may occur:
A. Only on a rotational
basis
B. On a pro rata basis but
other allocation methods
can be used without
violating the Advisers Act
C. Only on a pro rata basis
D. Based on the trader's
good faith discretion
https://quizlet.com/1045690767/iaccp-master-qbank-2025-actual-exam-testing-real-exam-questions-and-verified-answers-multiple-choices-complete… 1/141
,5/19/25, 12:57 PM IACCP Master QBank (2025) ACTUAL EXAM (TESTING REAL EXAM QUESTIONS) AND VERIFIED ANSWERS (MULTIPLE CH…
Which of the following C. Availability of affiliated brokerage services
should NOT be a factor
when evaluating best
execution?
A. Price
B. Transaction costs
C. Availability of affiliated
brokerage services
D. Service and execution
capability
Under the safe harbor C. Portfolio management software used to calculate
provided by Section 28(e) client returns
of the Securities and
Exchange Act of 1934, a
"mixed use"
product/service,
purchased with soft
dollars, most likely refers
to which of the following:
A. A research newsletter
used by analysts
B. A computer terminal
used only to place client
trades
C. Portfolio management
software used to calculate
client returns
D. A junket to Pebble
Beach for golf
https://quizlet.com/1045690767/iaccp-master-qbank-2025-actual-exam-testing-real-exam-questions-and-verified-answers-multiple-choices-complete… 2/141
,5/19/25, 12:57 PM IACCP Master QBank (2025) ACTUAL EXAM (TESTING REAL EXAM QUESTIONS) AND VERIFIED ANSWERS (MULTIPLE CH…
An adviser's valuation A. Large cap stocks
procedures should,
practically speaking, be
prepared with the LEAST
attention to:
A. Large cap stocks
B. Illiquid investments
C. Foreign issues
D. Micro cap stocks
Agency cross transactions C. Consent from at least two advisory clients
do NOT require:
A. Annual disclosure to
advisory clients of the
number of agency cross
transactions
B. Annual disclosure of the
total remuneration
received by the adviser
through agency cross
transactions
C. Consent from at least
two advisory clients
D. Disclosures that written
consent may be revoked
at any time
https://quizlet.com/1045690767/iaccp-master-qbank-2025-actual-exam-testing-real-exam-questions-and-verified-answers-multiple-choices-complete… 3/141
, 5/19/25, 12:57 PM IACCP Master QBank (2025) ACTUAL EXAM (TESTING REAL EXAM QUESTIONS) AND VERIFIED ANSWERS (MULTIPLE CH…
"Bailey disclosure" refers D. All of the above
to the concept of advising
clients of the effect of
directing the adviser to
use a particular broker(s).
Disclosure about the
ramifications of brokerage
direction should include:
A. Potential conflicts of
interest when a directed
broker referred the client
to the adviser
B. Limits on the ability of
the adviser to negotiate
commissions
C. Restrictions on placing
directed trades with other
client trades
D. All of the above
Which of the following C. Commissions generated from ERISA plan
statements is FALSE? transactions may never be used to generate soft
A. Trade errors must be dollars.
resolved for the client's
benefit.
B. Principal transactions
require consent prior to
settlement.
C. Commissions generated
from ERISA plan
transactions may never be
used to generate soft
dollars.
D. An adviser's fiduciary
duty includes allocating
investment opportunities
fairly and equitably.
https://quizlet.com/1045690767/iaccp-master-qbank-2025-actual-exam-testing-real-exam-questions-and-verified-answers-multiple-choices-complete… 4/141
