GIPS Study guides, Class notes & Summaries

CFA level1-Mock-120 2/44 Questions 1~18 Relate to Ethics 1. Correct answer: B. Members/candidates who possess material nonpublic information that could affect the value of an investment should not act or cause others to act on the information as stated in Standard II(A). Crux traded on the material information that Orca is about to be acquired by Cyber Kinetics. The information is non-public because it is not publicly available, which was verified when Crux researched Orca on the Interne...

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 ...

Jack Fahey, CFA, is a portfolio manager of Pacific Sunrise Investments, which does not claim compliance with the Global Investment Performance Standards (GIPS). When presenting the historical performance of his small-cap growth composite, Fahey notes that only fee-paying accounts are included, but he does not mention that both discretionary and non-discretionary accounts are included. Has Fahey most likely violated the Standards? Yes, with respect to performance presentation only Yes, with...

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 ...

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...

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 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...

1. Richard Cardinal, CFA, is the founder of Volcano Capital Research, an investment management firm whose sole activity is short selling. Cardinal seeks out companies whose stocks have had large price increases. Cardinal also pays several lobbying firms to update him immediately on any legislative or regulatory changes that may impact his target companies. Cardinal sells short those target companies he estimates are near the peak of their sales and earnings and that his sources identify as ...

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...