GIPS Study guides, Class notes & Summaries

Which of the following is least likely a requirement of the GIPS standards? Firms are required to: - present a minimum of five years of annual investment performance compliant with the GIPS standards. - include all discretionary, fee-paying portfolios in at least one composite. - have their performance records verified by an independent third party. C - It is a recommendation but not a requirement that firms obtain independent third-party verification to claim GIPS compliance. Fi...

CFA Mock Exam Full 89 Questions with Answers 2023 if you were fired from a previous job and fail to tell your new emmployer is that a violation and if so of what? - CORRECT ANSWER yes, misconduct. this information could potentially harm your new employer and he needs to know man! degress of price discrimination - CORRECT ANSWER 1st degree-- know price that every consumer is willing to pay. 2nd degree-- price varies according to quanity demanded. sellers aren't able to distinguish classe...

CFA Level 1 Q&A Entire Exam + Explanation | Questions with 100% Correct Answers | Updated & Verified Sharon Fields, CFA, provides her two weeks' notice and prepares over the next two weeks to transition into her own business. She clears her personal computer of contacts and turns over all client records to her employer. Her contract requires a two-year waiting period before contacting clients located in her client file. After her final day with her employer, she updates her personal pages...

CFA Exam Questions and Answers (100% Pass) why were the GIPS standards created? - Answer-to help prevent misleading practices such as "representative accounts", where a firm picks a top performaing account to represent overall investmment results Teresa Avila, CFA, is a micro-cap investment analyst at a hedge fund. The fund requires Avila to hold any securities she recommends for the fund in her own account as well. Because Avila has such a small account, whenever she trades for her own ...

Question #1 of 120 Question ID: Questions 1 through 18 relate to Ethical and Professional Standards. (27 minutes) Ray Brown, CFA, gives prospects his firm's marketing materials, not prepared by him, that indicate he has a graduate degree from State University, when in fact he did graduate work there but did not receive a degree. Brown informed the marketing department of this error when he first saw it. Brown has: A) violated the Standards by misrepresenting his qualifications. B) no...

According to the CFA Institute Code of Ethics and Standards of Professional Conduct, trading on material nonpublic information is least likely to be prevented by establishing: - ANSWER Selective Disclosure After a firm presents a minimum required number of years of GIPS-compliant performance, the firm must present an additional year of performance each year, building up to a minimum of: - ANSWER 10 years of GIPS-compliant performance After a firm presents a minimum of five years of GIPS-co...

CFA- Level 1 Ethical & Professional Standards Exams 72 Questions with Answers What are the seven standards of professional conduct? (LOS 1.b) -CORRECT ANSWER I: Professionalism II: Integrity of Capital Markets III: Duties to Clients IV: Duties to Employers V: Investment Analysis, Recommendations, and Actions VI: Conflicts of Interest VII: Responsibilities as a CFA Institute Member or CFA Candidate What are the six components of the Code of Ethics? (LOS 1.b) -CORRECT ANSWER o *Act...

Frank Clotti is an investment analyst working for a credit rating agency. Clotti has been told by his immediate supervisor that structured products issued by a certain client should not receive a rating that is below investment grade, as it might affect the advisory relationship that the credit rating agency has with the client. Clotti has already conducted his analysis and concluded that several of the structured products issued by the client should be rated as below investment grade. According...

IACCP Master Questions Bank with Answers 100% solved Rated A+IACCP Master Questions Bank with Answers 100% solved Rated A+ Contains marking scheme The SMC Capital, Inc. No-Action Letter (September 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 – Which of the following should ...

The difference between a hedge fund's trading net asset value and its accounting net asset value is that: - Answer- Trading NAV adjusts accounting NAV downward to account for illiquidity of a hedge fund's investments, such as positions that are large relative to trading volume. An additional risk of direct investment in real estate, which is not typically a significant risk in a portfolio of traditional investments, is: - Answer- liquidity risk A portfolio manager who adds hedge funds to...