{"id":12700,"date":"2020-09-29T02:37:05","date_gmt":"2020-09-29T02:37:05","guid":{"rendered":"https:\/\/www.dumpsbase.com\/freedumps\/?p=12700"},"modified":"2020-09-29T02:37:09","modified_gmt":"2020-09-29T02:37:09","slug":"real-exam-dumps-for-cfa-level-1-exam","status":"publish","type":"post","link":"https:\/\/www.dumpsbase.com\/freedumps\/real-exam-dumps-for-cfa-level-1-exam.html","title":{"rendered":"Real Exam Dumps For CFA Level 1 Exam"},"content":{"rendered":"\n<p>We know the Chartered Financial Analyst (CFA) is one of the more frequently sought after designations for investment professionals. The The CFA program consists of three exams: CFA Level I, CFA Level II and CFA Level III. Today, we introduce the real dumps to help you prepare for the CFA Level 1 exam. Currently, there are 3960 practice exam questions and answers for your CFA Level 1 exam. We ensure that you can pass CFA Level 1 exam smoothly.<\/p>\n<h2>Check <span style=\"color: #800000;\">CFA Level 1 Free Dumps<\/span> Online First<\/h2>\n<script>\n\t  window.fbAsyncInit = function() {\n\t    FB.init({\n\t      appId            : '622169541470367',\n\t      autoLogAppEvents : true,\n\t      xfbml            : true,\n\t      version          : 'v3.1'\n\t    });\n\t  };\n\t\n\t  (function(d, s, id){\n\t     var js, fjs = d.getElementsByTagName(s)[0];\n\t     if (d.getElementById(id)) {return;}\n\t     js = d.createElement(s); js.id = id;\n\t     js.src = \"https:\/\/connect.facebook.net\/en_US\/sdk.js\";\n\t     fjs.parentNode.insertBefore(js, fjs);\n\t   }(document, 'script', 'facebook-jssdk'));\n\t<\/script><script type=\"text\/javascript\" >\ndocument.addEventListener(\"DOMContentLoaded\", function(event) { \nif(!window.jQuery) alert(\"The important jQuery library is not properly loaded in your site. Your WordPress theme is probably missing the essential wp_head() call. You can switch to another theme and you will see that the plugin works fine and this notice disappears. If you are still not sure what to do you can contact us for help.\");\n});\n<\/script>  \n  \n<div  id=\"watupro_quiz\" class=\"quiz-area single-page-quiz\">\n<p id=\"submittingExam4647\" style=\"display:none;text-align:center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/plugins\/watupro\/img\/loading.gif\" width=\"16\" height=\"16\"><\/p>\n\n<div class=\"watupro-exam-description\" id=\"description-quiz-4647\"><\/div>\n\n<form action=\"\" method=\"post\" class=\"quiz-form\" id=\"quiz-4647\"  enctype=\"multipart\/form-data\" >\n<div class='watu-question ' id='question-1' style=';'><div id='questionWrap-1'  class='   watupro-question-id-147729'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>1. <\/span>According to the AIMR- PPS, ________ are defined to include all discretionary and nondiscretionary assets.<\/div><input type='hidden' name='question_id[]' id='qID_1' value='147729' \/><input type='hidden' id='answerType147729' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147729[]' id='answer-id-601923' class='answer   answerof-147729 ' value='601923'   \/><label for='answer-id-601923' id='answer-label-601923' class=' answer'><span>individually managed assets<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147729[]' id='answer-id-601924' class='answer   answerof-147729 ' value='601924'   \/><label for='answer-id-601924' id='answer-label-601924' class=' answer'><span>individual investor's assets<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147729[]' id='answer-id-601925' class='answer   answerof-147729 ' value='601925'   \/><label for='answer-id-601925' id='answer-label-601925' class=' answer'><span>total firm assets<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147729[]' id='answer-id-601926' class='answer   answerof-147729 ' value='601926'   \/><label for='answer-id-601926' id='answer-label-601926' class=' answer'><span>global assets<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-2' style=';'><div id='questionWrap-2'  class='   watupro-question-id-147730'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>2. <\/span>Standard IV (B.7) deals with ________.<\/div><input type='hidden' name='question_id[]' id='qID_2' value='147730' \/><input type='hidden' id='answerType147730' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147730[]' id='answer-id-601927' class='answer   answerof-147730 ' value='601927'   \/><label for='answer-id-601927' id='answer-label-601927' class=' answer'><span>Priority of Transactions<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147730[]' id='answer-id-601928' class='answer   answerof-147730 ' value='601928'   \/><label for='answer-id-601928' id='answer-label-601928' class=' answer'><span>None of these answers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147730[]' id='answer-id-601929' class='answer   answerof-147730 ' value='601929'   \/><label for='answer-id-601929' id='answer-label-601929' class=' answer'><span>Disclosure of Referral Fees<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147730[]' id='answer-id-601930' class='answer   answerof-147730 ' value='601930'   \/><label for='answer-id-601930' id='answer-label-601930' class=' answer'><span>Performance Presentation<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147730[]' id='answer-id-601931' class='answer   answerof-147730 ' value='601931'   \/><label for='answer-id-601931' id='answer-label-601931' class=' answer'><span>Prohibition against Misrepresentation<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147730[]' id='answer-id-601932' class='answer   answerof-147730 ' value='601932'   \/><label for='answer-id-601932' id='answer-label-601932' class=' answer'><span>Disclosure of Conflicts to Clients and Prospects<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147730[]' id='answer-id-601933' class='answer   answerof-147730 ' value='601933'   \/><label for='answer-id-601933' id='answer-label-601933' class=' answer'><span>Preservation of Confidentiality<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147730[]' id='answer-id-601934' class='answer   answerof-147730 ' value='601934'   \/><label for='answer-id-601934' id='answer-label-601934' class=' answer'><span>Prohibition against Use of Material Nonpublic Information<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-3' style=';'><div id='questionWrap-3'  class='   watupro-question-id-147731'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>3. <\/span>Standard III (D) deals with ________.<\/div><input type='hidden' name='question_id[]' id='qID_3' value='147731' \/><input type='hidden' id='answerType147731' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147731[]' id='answer-id-601935' class='answer   answerof-147731 ' value='601935'   \/><label for='answer-id-601935' id='answer-label-601935' class=' answer'><span>Professional Misconduct<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147731[]' id='answer-id-601936' class='answer   answerof-147731 ' value='601936'   \/><label for='answer-id-601936' id='answer-label-601936' class=' answer'><span>Use of Professional Designation<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147731[]' id='answer-id-601937' class='answer   answerof-147731 ' value='601937'   \/><label for='answer-id-601937' id='answer-label-601937' class=' answer'><span>Plagiarism<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147731[]' id='answer-id-601938' class='answer   answerof-147731 ' value='601938'   \/><label for='answer-id-601938' id='answer-label-601938' class=' answer'><span>Fundamental Responsibilities<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147731[]' id='answer-id-601939' class='answer   answerof-147731 ' value='601939'   \/><label for='answer-id-601939' id='answer-label-601939' class=' answer'><span>None of these answers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147731[]' id='answer-id-601940' class='answer   answerof-147731 ' value='601940'   \/><label for='answer-id-601940' id='answer-label-601940' class=' answer'><span>Obligation to Inform Employer of Code and Standards<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-4' style=';'><div id='questionWrap-4'  class='   watupro-question-id-147732'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>4. <\/span>Another name for &quot;access&quot; person is ________.<\/div><input type='hidden' name='question_id[]' id='qID_4' value='147732' \/><input type='hidden' id='answerType147732' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147732[]' id='answer-id-601941' class='answer   answerof-147732 ' value='601941'   \/><label for='answer-id-601941' id='answer-label-601941' class=' answer'><span>none of these answers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147732[]' id='answer-id-601942' class='answer   answerof-147732 ' value='601942'   \/><label for='answer-id-601942' id='answer-label-601942' class=' answer'><span>supervisor<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147732[]' id='answer-id-601943' class='answer   answerof-147732 ' value='601943'   \/><label for='answer-id-601943' id='answer-label-601943' class=' answer'><span>ombudsman<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147732[]' id='answer-id-601944' class='answer   answerof-147732 ' value='601944'   \/><label for='answer-id-601944' id='answer-label-601944' class=' answer'><span>guardian<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147732[]' id='answer-id-601945' class='answer   answerof-147732 ' value='601945'   \/><label for='answer-id-601945' id='answer-label-601945' class=' answer'><span>fiduciary<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147732[]' id='answer-id-601946' class='answer   answerof-147732 ' value='601946'   \/><label for='answer-id-601946' id='answer-label-601946' class=' answer'><span>covered person<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-5' style=';'><div id='questionWrap-5'  class='   watupro-question-id-147733'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>5. <\/span>Which of the following is\/are true about the Performance Presentation Standards? <br \/>\r<br>I. A member who complies with the mandatory requirements of the PPS but does not follow the recommended requirements can publicly claim compliance with the PPS. <br \/>\r<br>II. The PPS are designed to be primarily a performance measurement framework. <br \/>\r<br>III. The Standards are not designed to enhance or detract from the presentation of historical results.<\/div><input type='hidden' name='question_id[]' id='qID_5' value='147733' \/><input type='hidden' id='answerType147733' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147733[]' id='answer-id-601947' class='answer   answerof-147733 ' value='601947'   \/><label for='answer-id-601947' id='answer-label-601947' class=' answer'><span>III only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147733[]' id='answer-id-601948' class='answer   answerof-147733 ' value='601948'   \/><label for='answer-id-601948' id='answer-label-601948' class=' answer'><span>II and III only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147733[]' id='answer-id-601949' class='answer   answerof-147733 ' value='601949'   \/><label for='answer-id-601949' id='answer-label-601949' class=' answer'><span>I, II and III<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147733[]' id='answer-id-601950' class='answer   answerof-147733 ' value='601950'   \/><label for='answer-id-601950' id='answer-label-601950' class=' answer'><span>I and III only<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-6' style=';'><div id='questionWrap-6'  class='   watupro-question-id-147734'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>6. <\/span>If a firm uses non- discretionary leverage, it must present performance using:<\/div><input type='hidden' name='question_id[]' id='qID_6' value='147734' \/><input type='hidden' id='answerType147734' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147734[]' id='answer-id-601951' class='answer   answerof-147734 ' value='601951'   \/><label for='answer-id-601951' id='answer-label-601951' class=' answer'><span>both actual returns and all- cash basis.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147734[]' id='answer-id-601952' class='answer   answerof-147734 ' value='601952'   \/><label for='answer-id-601952' id='answer-label-601952' class=' answer'><span>all- cash basis i.e. removing leverage effects.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147734[]' id='answer-id-601953' class='answer   answerof-147734 ' value='601953'   \/><label for='answer-id-601953' id='answer-label-601953' class=' answer'><span>actual returns.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147734[]' id='answer-id-601954' class='answer   answerof-147734 ' value='601954'   \/><label for='answer-id-601954' id='answer-label-601954' class=' answer'><span>none of these answers.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-7' style=';'><div id='questionWrap-7'  class='   watupro-question-id-147735'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>7. <\/span>________ and other hybrid securities must be treated consistently across and within composites.<\/div><input type='hidden' name='question_id[]' id='qID_7' value='147735' \/><input type='hidden' id='answerType147735' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147735[]' id='answer-id-601955' class='answer   answerof-147735 ' value='601955'   \/><label for='answer-id-601955' id='answer-label-601955' class=' answer'><span>Portfolios<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147735[]' id='answer-id-601956' class='answer   answerof-147735 ' value='601956'   \/><label for='answer-id-601956' id='answer-label-601956' class=' answer'><span>Convertibles<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147735[]' id='answer-id-601957' class='answer   answerof-147735 ' value='601957'   \/><label for='answer-id-601957' id='answer-label-601957' class=' answer'><span>Assets<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147735[]' id='answer-id-601958' class='answer   answerof-147735 ' value='601958'   \/><label for='answer-id-601958' id='answer-label-601958' class=' answer'><span>Bonds<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-8' style=';'><div id='questionWrap-8'  class='   watupro-question-id-147736'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>8. <\/span>Standard IV (B.8), Disclosure of Referral Fees, includes ________.<\/div><input type='hidden' name='question_id[]' id='qID_8' value='147736' \/><input type='hidden' id='answerType147736' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147736[]' id='answer-id-601959' class='answer   answerof-147736 ' value='601959'   \/><label for='answer-id-601959' id='answer-label-601959' class=' answer'><span>referral fees paid in cash<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147736[]' id='answer-id-601960' class='answer   answerof-147736 ' value='601960'   \/><label for='answer-id-601960' id='answer-label-601960' class=' answer'><span>referral fees paid &quot;in kind&quot;<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147736[]' id='answer-id-601961' class='answer   answerof-147736 ' value='601961'   \/><label for='answer-id-601961' id='answer-label-601961' class=' answer'><span>soft dollar referral fees<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147736[]' id='answer-id-601962' class='answer   answerof-147736 ' value='601962'   \/><label for='answer-id-601962' id='answer-label-601962' class=' answer'><span>all of these answers<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-9' style=';'><div id='questionWrap-9'  class='   watupro-question-id-147737'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>9. <\/span>Which of the following relating to compliance procedures for complying with Standard III (E) is false? The compliance procedures should:<\/div><input type='hidden' name='question_id[]' id='qID_9' value='147737' \/><input type='hidden' id='answerType147737' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147737[]' id='answer-id-601963' class='answer   answerof-147737 ' value='601963'   \/><label for='answer-id-601963' id='answer-label-601963' class=' answer'><span>none of these answers.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147737[]' id='answer-id-601964' class='answer   answerof-147737 ' value='601964'   \/><label for='answer-id-601964' id='answer-label-601964' class=' answer'><span>outline permissible conduct.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147737[]' id='answer-id-601965' class='answer   answerof-147737 ' value='601965'   \/><label for='answer-id-601965' id='answer-label-601965' class=' answer'><span>delineate procedures for reporting violations and sanctions.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147737[]' id='answer-id-601966' class='answer   answerof-147737 ' value='601966'   \/><label for='answer-id-601966' id='answer-label-601966' class=' answer'><span>designate a team of outside colleagues to form a review board.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147737[]' id='answer-id-601967' class='answer   answerof-147737 ' value='601967'   \/><label for='answer-id-601967' id='answer-label-601967' class=' answer'><span>outline the scope of the procedures.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147737[]' id='answer-id-601968' class='answer   answerof-147737 ' value='601968'   \/><label for='answer-id-601968' id='answer-label-601968' class=' answer'><span>be easy to understand.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-10' style=';'><div id='questionWrap-10'  class='   watupro-question-id-147738'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>10. <\/span>According to the AIMR- PPS for venture and private placements, ________ internal rate of return must be presented since inception of the fund and be net of fees, expenses and carry to the limited partner.<\/div><input type='hidden' name='question_id[]' id='qID_10' value='147738' \/><input type='hidden' id='answerType147738' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147738[]' id='answer-id-601969' class='answer   answerof-147738 ' value='601969'   \/><label for='answer-id-601969' id='answer-label-601969' class=' answer'><span>limited<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147738[]' id='answer-id-601970' class='answer   answerof-147738 ' value='601970'   \/><label for='answer-id-601970' id='answer-label-601970' class=' answer'><span>extended<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147738[]' id='answer-id-601971' class='answer   answerof-147738 ' value='601971'   \/><label for='answer-id-601971' id='answer-label-601971' class=' answer'><span>cumulative<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147738[]' id='answer-id-601972' class='answer   answerof-147738 ' value='601972'   \/><label for='answer-id-601972' id='answer-label-601972' class=' answer'><span>general<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-11' style=';'><div id='questionWrap-11'  class='   watupro-question-id-147739'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>11. <\/span>Which of the following AIMR Standards states that referral fees must be disclosed in writing to clients or customers?<\/div><input type='hidden' name='question_id[]' id='qID_11' value='147739' \/><input type='hidden' id='answerType147739' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147739[]' id='answer-id-601973' class='answer   answerof-147739 ' value='601973'   \/><label for='answer-id-601973' id='answer-label-601973' class=' answer'><span>V<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147739[]' id='answer-id-601974' class='answer   answerof-147739 ' value='601974'   \/><label for='answer-id-601974' id='answer-label-601974' class=' answer'><span>VI (A)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147739[]' id='answer-id-601975' class='answer   answerof-147739 ' value='601975'   \/><label for='answer-id-601975' id='answer-label-601975' class=' answer'><span>IV (<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147739[]' id='answer-id-601976' class='answer   answerof-147739 ' value='601976'   \/><label for='answer-id-601976' id='answer-label-601976' class=' answer'><span>8)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147739[]' id='answer-id-601977' class='answer   answerof-147739 ' value='601977'   \/><label for='answer-id-601977' id='answer-label-601977' class=' answer'><span>IV<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-12' style=';'><div id='questionWrap-12'  class='   watupro-question-id-147740'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>12. <\/span>Omega Prime Securities is a sizable investment bank that undertakes security issuances on behalf of small and medium- size businesses. Treffil Ellis is the senior vice president of corporate finance at Omega. Treffil, on one of his golf junkets, made acquaintance with Tralth Trevor, owner of a growing chain of resort hotels. Tralth invites Treffil to his estate mansion the next day and over drinks, asks him how fast Omega could issue equity- linked callable notes to finance the $200 million construction of new hotel businesses in Cairo and Bali. He forthrightly tells him that Omega could receive as much as 150 basis points above the normal fee if the issuance could be completed within the month. Treffil knows that this is not enough time to complete a research on Tralth's business and determine the issue price. <br \/>\r<br>However, he does know that his research wing could quickly do a comparison with one of the other hotel chains and determine an approximate issue price. He instructs his department to do so. In a month, the public offering is ready for issuance and Omega ends up making almost $15 million more than on other similar business deals. Treffil receives commendation from the CEO for &quot;going beyond the call of duty for his employer.&quot; Treffil has <br \/>\r<br>I. violated Standard IV (B.3) - Fair Dealing. <br \/>\r<br>II. not violated any code of ethics. <br \/>\r<br>III. violated Standard IV (A.1) - Reasonable Basis &amp; Representations. <br \/>\r<br>IV. violated Standard IV (B.1) - Fiduciary Duties.<\/div><input type='hidden' name='question_id[]' id='qID_12' value='147740' \/><input type='hidden' id='answerType147740' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147740[]' id='answer-id-601978' class='answer   answerof-147740 ' value='601978'   \/><label for='answer-id-601978' id='answer-label-601978' class=' answer'><span>III and IV only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147740[]' id='answer-id-601979' class='answer   answerof-147740 ' value='601979'   \/><label for='answer-id-601979' id='answer-label-601979' class=' answer'><span>I and III only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147740[]' id='answer-id-601980' class='answer   answerof-147740 ' value='601980'   \/><label for='answer-id-601980' id='answer-label-601980' class=' answer'><span>III only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147740[]' id='answer-id-601981' class='answer   answerof-147740 ' value='601981'   \/><label for='answer-id-601981' id='answer-label-601981' class=' answer'><span>II only<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-13' style=';'><div id='questionWrap-13'  class='   watupro-question-id-147741'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>13. <\/span>Which of the following statements clearly conflicts with the recommended procedures for compliance presented in AIMR's Standards of Practice Handbook?<\/div><input type='hidden' name='question_id[]' id='qID_13' value='147741' \/><input type='hidden' id='answerType147741' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147741[]' id='answer-id-601982' class='answer   answerof-147741 ' value='601982'   \/><label for='answer-id-601982' id='answer-label-601982' class=' answer'><span>Investment recommendations may be changed by an analyst without prior approval of a supervisory analyst.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147741[]' id='answer-id-601983' class='answer   answerof-147741 ' value='601983'   \/><label for='answer-id-601983' id='answer-label-601983' class=' answer'><span>Prior approval must be obtained for the personal investment transactions of all employees.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147741[]' id='answer-id-601984' class='answer   answerof-147741 ' value='601984'   \/><label for='answer-id-601984' id='answer-label-601984' class=' answer'><span>For confidentiality reasons, personal transactions should not be compared with those of clients or the employer unless requested by regulatory organizations.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147741[]' id='answer-id-601985' class='answer   answerof-147741 ' value='601985'   \/><label for='answer-id-601985' id='answer-label-601985' class=' answer'><span>Personal transactions should be defined as including transactions in securities owned by the employee and member of his or her immediate family and transactions involving securities in which the employee has beneficial interest.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-14' style=';'><div id='questionWrap-14'  class='   watupro-question-id-147742'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>14. <\/span>Trust Fund is a reasonably successful investment management firm that has as its clients a few pension plans. Trust Fund executes all of its trades with Prime Brokerage, an average brokerage firm. Prime Brokerage charges higher commissions than comparable players in the market but in return, provides investment research on the stocks which are part of the pension plan assets under Trust Fund's management. Portfolio managers at Trust Fund know about the close relationship on the golf links between Prime Brokerage's chief broker, Ralph Fiennes, and Trust Fund's CEO, Armis Arvanitis. They also believe that the research provided by Prime Brokerage, while not superlative, is quite useful and justifies the excess expense in brokerage. This &quot;soft- dollars&quot; practice is disclosed in Trust Fund's official documents and contracts but Sisko, a freshly minted CFA charterholder, thinks that Trust Fund managers are in violation of the AIMR code of Ethics. <br \/>\r<br>Which of the following is true?<\/div><input type='hidden' name='question_id[]' id='qID_14' value='147742' \/><input type='hidden' id='answerType147742' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147742[]' id='answer-id-601986' class='answer   answerof-147742 ' value='601986'   \/><label for='answer-id-601986' id='answer-label-601986' class=' answer'><span>Trust Fund's managers are violating Standard IV (<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147742[]' id='answer-id-601987' class='answer   answerof-147742 ' value='601987'   \/><label for='answer-id-601987' id='answer-label-601987' class=' answer'><span>8) - Disclosure of Referral Fees by not revealing the arrangement to pension plan beneficiaries.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147742[]' id='answer-id-601988' class='answer   answerof-147742 ' value='601988'   \/><label for='answer-id-601988' id='answer-label-601988' class=' answer'><span>Trust Fund's managers are violating Standard IV (<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147742[]' id='answer-id-601989' class='answer   answerof-147742 ' value='601989'   \/><label for='answer-id-601989' id='answer-label-601989' class=' answer'><span>1) - Fiduciary Duties by not executing the trades at the lowest price available.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147742[]' id='answer-id-601990' class='answer   answerof-147742 ' value='601990'   \/><label for='answer-id-601990' id='answer-label-601990' class=' answer'><span>Sisko is not applying the AIMR code correctly. Trust Fund's managers are not violating any AIMR standards.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147742[]' id='answer-id-601991' class='answer   answerof-147742 ' value='601991'   \/><label for='answer-id-601991' id='answer-label-601991' class=' answer'><span>Trust Fund's managers are violating Standard IV (<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147742[]' id='answer-id-601992' class='answer   answerof-147742 ' value='601992'   \/><label for='answer-id-601992' id='answer-label-601992' class=' answer'><span>3) - Fair Dealing by unfairly diverting funds from the plan assets to Prime Brokerage through higher fees.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-15' style=';'><div id='questionWrap-15'  class='   watupro-question-id-147743'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>15. <\/span>A financial analyst should conduct himself with ________, competence and dignity and act in an ethical manner in his dealings with the public, clients, customers, employers, employees and fellow analysts.<\/div><input type='hidden' name='question_id[]' id='qID_15' value='147743' \/><input type='hidden' id='answerType147743' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147743[]' id='answer-id-601993' class='answer   answerof-147743 ' value='601993'   \/><label for='answer-id-601993' id='answer-label-601993' class=' answer'><span>integrity<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147743[]' id='answer-id-601994' class='answer   answerof-147743 ' value='601994'   \/><label for='answer-id-601994' id='answer-label-601994' class=' answer'><span>morality<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147743[]' id='answer-id-601995' class='answer   answerof-147743 ' value='601995'   \/><label for='answer-id-601995' id='answer-label-601995' class=' answer'><span>none of these answers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147743[]' id='answer-id-601996' class='answer   answerof-147743 ' value='601996'   \/><label for='answer-id-601996' id='answer-label-601996' class=' answer'><span>honor<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147743[]' id='answer-id-601997' class='answer   answerof-147743 ' value='601997'   \/><label for='answer-id-601997' id='answer-label-601997' class=' answer'><span>principal<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-16' style=';'><div id='questionWrap-16'  class='   watupro-question-id-147744'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>16. <\/span>Everly Smith has passed Level II of the CFA examination. While studying for Level III, he circulates his resume stating that he has &quot;completed Charter Financial Analyst II&quot; and his resume lists his name as &quot;Everly Smith, CFA II.&quot; Which of these following statements is correct?<\/div><input type='hidden' name='question_id[]' id='qID_16' value='147744' \/><input type='hidden' id='answerType147744' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147744[]' id='answer-id-601998' class='answer   answerof-147744 ' value='601998'   \/><label for='answer-id-601998' id='answer-label-601998' class=' answer'><span>Everly Smith is not in compliance with the standards regarding use of the CFA designation. He may state he &quot;completed Chartered Financial Analyst II,&quot; but cannot put &quot;CFA II&quot; after his name.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147744[]' id='answer-id-601999' class='answer   answerof-147744 ' value='601999'   \/><label for='answer-id-601999' id='answer-label-601999' class=' answer'><span>Everly Smith is not in compliance with the standards regarding use of the CFA designation. He can neither state he &quot;completed Chartered Financial Analyst II&quot; nor &quot;Everly Smith, CFA I<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147744[]' id='answer-id-602000' class='answer   answerof-147744 ' value='602000'   \/><label for='answer-id-602000' id='answer-label-602000' class=' answer'><span>&quot;<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147744[]' id='answer-id-602001' class='answer   answerof-147744 ' value='602001'   \/><label for='answer-id-602001' id='answer-label-602001' class=' answer'><span>Everly Smith is not in compliance with the standards regarding use of the CFA designation. Since he is registered for Level III he should state &quot;Everly Smith, CFA II<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147744[]' id='answer-id-602002' class='answer   answerof-147744 ' value='602002'   \/><label for='answer-id-602002' id='answer-label-602002' class=' answer'><span>&quot;<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147744[]' id='answer-id-602003' class='answer   answerof-147744 ' value='602003'   \/><label for='answer-id-602003' id='answer-label-602003' class=' answer'><span>Everly Smith is in compliance with the standards regarding use of the CFA designation.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-17' style=';'><div id='questionWrap-17'  class='   watupro-question-id-147745'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>17. <\/span>For ________ of five or fewer portfolios, the disclosure &quot;five or fewer portfolios&quot; may be made rather than a disclosure of the exact number of portfolios.<\/div><input type='hidden' name='question_id[]' id='qID_17' value='147745' \/><input type='hidden' id='answerType147745' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147745[]' id='answer-id-602004' class='answer   answerof-147745 ' value='602004'   \/><label for='answer-id-602004' id='answer-label-602004' class=' answer'><span>returns<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147745[]' id='answer-id-602005' class='answer   answerof-147745 ' value='602005'   \/><label for='answer-id-602005' id='answer-label-602005' class=' answer'><span>investments<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147745[]' id='answer-id-602006' class='answer   answerof-147745 ' value='602006'   \/><label for='answer-id-602006' id='answer-label-602006' class=' answer'><span>segments<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147745[]' id='answer-id-602007' class='answer   answerof-147745 ' value='602007'   \/><label for='answer-id-602007' id='answer-label-602007' class=' answer'><span>composites<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-18' style=';'><div id='questionWrap-18'  class='   watupro-question-id-147746'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>18. <\/span>Standard I deals with ________.<\/div><input type='hidden' name='question_id[]' id='qID_18' value='147746' \/><input type='hidden' id='answerType147746' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147746[]' id='answer-id-602008' class='answer   answerof-147746 ' value='602008'   \/><label for='answer-id-602008' id='answer-label-602008' class=' answer'><span>Use of Professional Designation<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147746[]' id='answer-id-602009' class='answer   answerof-147746 ' value='602009'   \/><label for='answer-id-602009' id='answer-label-602009' class=' answer'><span>Duty to Employer<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147746[]' id='answer-id-602010' class='answer   answerof-147746 ' value='602010'   \/><label for='answer-id-602010' id='answer-label-602010' class=' answer'><span>Obligation to Inform Employer of Code and Standards<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147746[]' id='answer-id-602011' class='answer   answerof-147746 ' value='602011'   \/><label for='answer-id-602011' id='answer-label-602011' class=' answer'><span>Professional Misconduct<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147746[]' id='answer-id-602012' class='answer   answerof-147746 ' value='602012'   \/><label for='answer-id-602012' id='answer-label-602012' class=' answer'><span>Plagiarism<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147746[]' id='answer-id-602013' class='answer   answerof-147746 ' value='602013'   \/><label for='answer-id-602013' id='answer-label-602013' class=' answer'><span>Fundamental Responsibilities<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147746[]' id='answer-id-602014' class='answer   answerof-147746 ' value='602014'   \/><label for='answer-id-602014' id='answer-label-602014' class=' answer'><span>Disclosure of Conflicts to Employer<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147746[]' id='answer-id-602015' class='answer   answerof-147746 ' value='602015'   \/><label for='answer-id-602015' id='answer-label-602015' class=' answer'><span>None of these answers<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-19' style=';'><div id='questionWrap-19'  class='   watupro-question-id-147747'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>19. <\/span>According to the AIMR- PPS, terminated portfolios are included in the composite for how long after termination?<\/div><input type='hidden' name='question_id[]' id='qID_19' value='147747' \/><input type='hidden' id='answerType147747' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147747[]' id='answer-id-602016' class='answer   answerof-147747 ' value='602016'   \/><label for='answer-id-602016' id='answer-label-602016' class=' answer'><span>Composites must include terminated portfolios after the last full performance measurement period the portfolios were under management.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147747[]' id='answer-id-602017' class='answer   answerof-147747 ' value='602017'   \/><label for='answer-id-602017' id='answer-label-602017' class=' answer'><span>Composites should include the terminated portfolio only until the date of termination.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147747[]' id='answer-id-602018' class='answer   answerof-147747 ' value='602018'   \/><label for='answer-id-602018' id='answer-label-602018' class=' answer'><span>Composites should include the terminated portfolio for the last full performance measurement period under which the portfolios were managed.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147747[]' id='answer-id-602019' class='answer   answerof-147747 ' value='602019'   \/><label for='answer-id-602019' id='answer-label-602019' class=' answer'><span>Composites should include the terminated portfolio for the full ten years required by the Standards for performance reporting.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-20' style=';'><div id='questionWrap-20'  class='   watupro-question-id-147748'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>20. <\/span>Edward Witten works for Princeton Investments and has registered to take Level III exam next year. He had taken the Level III exam 3 years ago but was not successful. In his firm's promotional material, he has stated that he is a candidate in the CFA program and has successfully passed Level II. Edward has:<\/div><input type='hidden' name='question_id[]' id='qID_20' value='147748' \/><input type='hidden' id='answerType147748' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147748[]' id='answer-id-602020' class='answer   answerof-147748 ' value='602020'   \/><label for='answer-id-602020' id='answer-label-602020' class=' answer'><span>violated Standard II (A) - Use of Professional Designation. He cannot claim to be in the CFA program without having completed Level III exam.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147748[]' id='answer-id-602021' class='answer   answerof-147748 ' value='602021'   \/><label for='answer-id-602021' id='answer-label-602021' class=' answer'><span>violated Standard II (A) - Use of Professional Designation. He cannot claim to be in the CFA program since he failed the Level III exam.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147748[]' id='answer-id-602022' class='answer   answerof-147748 ' value='602022'   \/><label for='answer-id-602022' id='answer-label-602022' class=' answer'><span>not violated any standards.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147748[]' id='answer-id-602023' class='answer   answerof-147748 ' value='602023'   \/><label for='answer-id-602023' id='answer-label-602023' class=' answer'><span>violated Standard II (A) - Use of Professional Designation. He cannot claim to be CFA - Level I<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-21' style=';'><div id='questionWrap-21'  class='   watupro-question-id-147749'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>21. <\/span>Standard V (A) deals with ________.<\/div><input type='hidden' name='question_id[]' id='qID_21' value='147749' \/><input type='hidden' id='answerType147749' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147749[]' id='answer-id-602024' class='answer   answerof-147749 ' value='602024'   \/><label for='answer-id-602024' id='answer-label-602024' class=' answer'><span>Prohibition against Use of Material Nonpublic Information<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147749[]' id='answer-id-602025' class='answer   answerof-147749 ' value='602025'   \/><label for='answer-id-602025' id='answer-label-602025' class=' answer'><span>Disclosure of Conflicts to Clients and Prospects<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147749[]' id='answer-id-602026' class='answer   answerof-147749 ' value='602026'   \/><label for='answer-id-602026' id='answer-label-602026' class=' answer'><span>Prohibition against Misrepresentation<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147749[]' id='answer-id-602027' class='answer   answerof-147749 ' value='602027'   \/><label for='answer-id-602027' id='answer-label-602027' class=' answer'><span>Disclosure of Referral Fees<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147749[]' id='answer-id-602028' class='answer   answerof-147749 ' value='602028'   \/><label for='answer-id-602028' id='answer-label-602028' class=' answer'><span>Performance Presentation<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147749[]' id='answer-id-602029' class='answer   answerof-147749 ' value='602029'   \/><label for='answer-id-602029' id='answer-label-602029' class=' answer'><span>Priority of Transactions<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147749[]' id='answer-id-602030' class='answer   answerof-147749 ' value='602030'   \/><label for='answer-id-602030' id='answer-label-602030' class=' answer'><span>Preservation of Confidentiality<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-22' style=';'><div id='questionWrap-22'  class='   watupro-question-id-147750'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>22. <\/span>Andy Pilling is a bond trading specialist who recently started a special fund, the &quot;Structured Bond Fund.&quot; The strategy behind this fund is quite complex, involving a mix of highly speculative, high- yield bonds and various tax- free municipal bonds for some stability. Andy has a strong view that the economy will remain vibrant and bullish over the next two years and hence, is not worried about the risky bonds. Assuming a falling rate scenario in this case allows the fund to project an expected return 130 basis points above the S&amp;P 500 return. In his special report, Pilling does not disclose such assumptions nor does he reveal any details about the bond strategy. He does analyze the state of the economy and the future outlook in the report. Based on his reputation and his association with some big name academics, Pilling is able to obtain capital of close to 75 million dollars on this fund alone. <br \/>\r<br>Andy has:<\/div><input type='hidden' name='question_id[]' id='qID_22' value='147750' \/><input type='hidden' id='answerType147750' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147750[]' id='answer-id-602031' class='answer   answerof-147750 ' value='602031'   \/><label for='answer-id-602031' id='answer-label-602031' class=' answer'><span>not violated any standards in the AIMR Code of Ethics.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147750[]' id='answer-id-602032' class='answer   answerof-147750 ' value='602032'   \/><label for='answer-id-602032' id='answer-label-602032' class=' answer'><span>violated Standard IV (<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147750[]' id='answer-id-602033' class='answer   answerof-147750 ' value='602033'   \/><label for='answer-id-602033' id='answer-label-602033' class=' answer'><span>6) - Prohibition Against Misrepresentation.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147750[]' id='answer-id-602034' class='answer   answerof-147750 ' value='602034'   \/><label for='answer-id-602034' id='answer-label-602034' class=' answer'><span>violated Standard IV (<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147750[]' id='answer-id-602035' class='answer   answerof-147750 ' value='602035'   \/><label for='answer-id-602035' id='answer-label-602035' class=' answer'><span>2) - Research Reports - by not revealing the assumptions and details about the strategy.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147750[]' id='answer-id-602036' class='answer   answerof-147750 ' value='602036'   \/><label for='answer-id-602036' id='answer-label-602036' class=' answer'><span>violated Standard IV (<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147750[]' id='answer-id-602037' class='answer   answerof-147750 ' value='602037'   \/><label for='answer-id-602037' id='answer-label-602037' class=' answer'><span>1) - Fiduciary Duties - by not disclosing the nature of the strategy.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-23' style=';'><div id='questionWrap-23'  class='   watupro-question-id-147751'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>23. <\/span>According to Standard IV (A.2), members should consider including the following information in research reports, except:<\/div><input type='hidden' name='question_id[]' id='qID_23' value='147751' \/><input type='hidden' id='answerType147751' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147751[]' id='answer-id-602038' class='answer   answerof-147751 ' value='602038'   \/><label for='answer-id-602038' id='answer-label-602038' class=' answer'><span>the methodology that drove the investment decisions.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147751[]' id='answer-id-602039' class='answer   answerof-147751 ' value='602039'   \/><label for='answer-id-602039' id='answer-label-602039' class=' answer'><span>yield- to- maturity.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147751[]' id='answer-id-602040' class='answer   answerof-147751 ' value='602040'   \/><label for='answer-id-602040' id='answer-label-602040' class=' answer'><span>annual amount of income expected.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147751[]' id='answer-id-602041' class='answer   answerof-147751 ' value='602041'   \/><label for='answer-id-602041' id='answer-label-602041' class=' answer'><span>degree of uncertainty associated with the cash flows.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147751[]' id='answer-id-602042' class='answer   answerof-147751 ' value='602042'   \/><label for='answer-id-602042' id='answer-label-602042' class=' answer'><span>business, financial, political, sovereign and market risks.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147751[]' id='answer-id-602043' class='answer   answerof-147751 ' value='602043'   \/><label for='answer-id-602043' id='answer-label-602043' class=' answer'><span>none of these answers.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147751[]' id='answer-id-602044' class='answer   answerof-147751 ' value='602044'   \/><label for='answer-id-602044' id='answer-label-602044' class=' answer'><span>degree of marketability \/ liquidity.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147751[]' id='answer-id-602045' class='answer   answerof-147751 ' value='602045'   \/><label for='answer-id-602045' id='answer-label-602045' class=' answer'><span>expected annual rate of return.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-24' style=';'><div id='questionWrap-24'  class='   watupro-question-id-147752'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>24. <\/span>The disclosures for retroactive compliance apply to composites formulated prior to ________.<\/div><input type='hidden' name='question_id[]' id='qID_24' value='147752' \/><input type='hidden' id='answerType147752' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147752[]' id='answer-id-602046' class='answer   answerof-147752 ' value='602046'   \/><label for='answer-id-602046' id='answer-label-602046' class=' answer'><span>January, 1989<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147752[]' id='answer-id-602047' class='answer   answerof-147752 ' value='602047'   \/><label for='answer-id-602047' id='answer-label-602047' class=' answer'><span>January, 1992<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147752[]' id='answer-id-602048' class='answer   answerof-147752 ' value='602048'   \/><label for='answer-id-602048' id='answer-label-602048' class=' answer'><span>January, 1991<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147752[]' id='answer-id-602049' class='answer   answerof-147752 ' value='602049'   \/><label for='answer-id-602049' id='answer-label-602049' class=' answer'><span>January, 1993<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147752[]' id='answer-id-602050' class='answer   answerof-147752 ' value='602050'   \/><label for='answer-id-602050' id='answer-label-602050' class=' answer'><span>January, 1990<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-25' style=';'><div id='questionWrap-25'  class='   watupro-question-id-147753'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>25. <\/span>With regard to real estate, all properties must be included in at least one ________.<\/div><input type='hidden' name='question_id[]' id='qID_25' value='147753' \/><input type='hidden' id='answerType147753' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147753[]' id='answer-id-602051' class='answer   answerof-147753 ' value='602051'   \/><label for='answer-id-602051' id='answer-label-602051' class=' answer'><span>account<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147753[]' id='answer-id-602052' class='answer   answerof-147753 ' value='602052'   \/><label for='answer-id-602052' id='answer-label-602052' class=' answer'><span>investment type<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147753[]' id='answer-id-602053' class='answer   answerof-147753 ' value='602053'   \/><label for='answer-id-602053' id='answer-label-602053' class=' answer'><span>composite<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147753[]' id='answer-id-602054' class='answer   answerof-147753 ' value='602054'   \/><label for='answer-id-602054' id='answer-label-602054' class=' answer'><span>sector<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147753[]' id='answer-id-602055' class='answer   answerof-147753 ' value='602055'   \/><label for='answer-id-602055' id='answer-label-602055' class=' answer'><span>portfolios<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-26' style=';'><div id='questionWrap-26'  class='   watupro-question-id-147754'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>26. <\/span>Each ________ needs to comprise portfolios or asset classes that represent a similar investment goal.<\/div><input type='hidden' name='question_id[]' id='qID_26' value='147754' \/><input type='hidden' id='answerType147754' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147754[]' id='answer-id-602056' class='answer   answerof-147754 ' value='602056'   \/><label for='answer-id-602056' id='answer-label-602056' class=' answer'><span>return<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147754[]' id='answer-id-602057' class='answer   answerof-147754 ' value='602057'   \/><label for='answer-id-602057' id='answer-label-602057' class=' answer'><span>composite<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147754[]' id='answer-id-602058' class='answer   answerof-147754 ' value='602058'   \/><label for='answer-id-602058' id='answer-label-602058' class=' answer'><span>value<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147754[]' id='answer-id-602059' class='answer   answerof-147754 ' value='602059'   \/><label for='answer-id-602059' id='answer-label-602059' class=' answer'><span>benchmark<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147754[]' id='answer-id-602060' class='answer   answerof-147754 ' value='602060'   \/><label for='answer-id-602060' id='answer-label-602060' class=' answer'><span>mix<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-27' style=';'><div id='questionWrap-27'  class='   watupro-question-id-147755'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>27. <\/span>ERISA fiduciaries must adhere to the following prudent procedures: <br \/>\r<br>- establish a written investment policy for the plan <br \/>\r<br>- diversify plan assets <br \/>\r<br>- make investment decisions with the skill and care of a ________ <br \/>\r<br>- monitor investment performance <br \/>\r<br>- control investment expenses <br \/>\r<br>- avoid prohibited transactions<\/div><input type='hidden' name='question_id[]' id='qID_27' value='147755' \/><input type='hidden' id='answerType147755' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147755[]' id='answer-id-602061' class='answer   answerof-147755 ' value='602061'   \/><label for='answer-id-602061' id='answer-label-602061' class=' answer'><span>member<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147755[]' id='answer-id-602062' class='answer   answerof-147755 ' value='602062'   \/><label for='answer-id-602062' id='answer-label-602062' class=' answer'><span>supervisor<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147755[]' id='answer-id-602063' class='answer   answerof-147755 ' value='602063'   \/><label for='answer-id-602063' id='answer-label-602063' class=' answer'><span>prudent expert<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147755[]' id='answer-id-602064' class='answer   answerof-147755 ' value='602064'   \/><label for='answer-id-602064' id='answer-label-602064' class=' answer'><span>none of these answers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147755[]' id='answer-id-602065' class='answer   answerof-147755 ' value='602065'   \/><label for='answer-id-602065' id='answer-label-602065' class=' answer'><span>trader<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-28' style=';'><div id='questionWrap-28'  class='   watupro-question-id-147756'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>28. <\/span>________ establishes the fiduciary principles for U.S. corporate pension plans.<\/div><input type='hidden' name='question_id[]' id='qID_28' value='147756' \/><input type='hidden' id='answerType147756' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147756[]' id='answer-id-602066' class='answer   answerof-147756 ' value='602066'   \/><label for='answer-id-602066' id='answer-label-602066' class=' answer'><span>AIMR<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147756[]' id='answer-id-602067' class='answer   answerof-147756 ' value='602067'   \/><label for='answer-id-602067' id='answer-label-602067' class=' answer'><span>PSPC<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147756[]' id='answer-id-602068' class='answer   answerof-147756 ' value='602068'   \/><label for='answer-id-602068' id='answer-label-602068' class=' answer'><span>ERISA<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147756[]' id='answer-id-602069' class='answer   answerof-147756 ' value='602069'   \/><label for='answer-id-602069' id='answer-label-602069' class=' answer'><span>WTO<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147756[]' id='answer-id-602070' class='answer   answerof-147756 ' value='602070'   \/><label for='answer-id-602070' id='answer-label-602070' class=' answer'><span>UMIFA<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147756[]' id='answer-id-602071' class='answer   answerof-147756 ' value='602071'   \/><label for='answer-id-602071' id='answer-label-602071' class=' answer'><span>None of these answers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147756[]' id='answer-id-602072' class='answer   answerof-147756 ' value='602072'   \/><label for='answer-id-602072' id='answer-label-602072' class=' answer'><span>RELAC<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-29' style=';'><div id='questionWrap-29'  class='   watupro-question-id-147757'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>29. <\/span>Under what conditions is Standard II (B)- Professional Misconduct violated? <br \/>\r<br>I. The member is convicted of a misdemeanor. <br \/>\r<br>II. The member regularly engages in unprofessional but legal behavior. <br \/>\r<br>III. The member engages in dishonest activities that do not result in criminal conviction. <br \/>\r<br>IV. The member is convicted of a felony.<\/div><input type='hidden' name='question_id[]' id='qID_29' value='147757' \/><input type='hidden' id='answerType147757' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147757[]' id='answer-id-602073' class='answer   answerof-147757 ' value='602073'   \/><label for='answer-id-602073' id='answer-label-602073' class=' answer'><span>II, III &amp; I<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147757[]' id='answer-id-602074' class='answer   answerof-147757 ' value='602074'   \/><label for='answer-id-602074' id='answer-label-602074' class=' answer'><span>I, II &amp; I<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147757[]' id='answer-id-602075' class='answer   answerof-147757 ' value='602075'   \/><label for='answer-id-602075' id='answer-label-602075' class=' answer'><span>I, II, III &amp; I<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147757[]' id='answer-id-602076' class='answer   answerof-147757 ' value='602076'   \/><label for='answer-id-602076' id='answer-label-602076' class=' answer'><span>IV only.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-30' style=';'><div id='questionWrap-30'  class='   watupro-question-id-147758'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>30. <\/span>Complete the following: According to The Code of Ethics, members of AIMR shall: &quot;Act with ________, competence, dignity and in an ethical manner when dealing with the public, clients, prospects, employers, employees and fellow members.&quot;<\/div><input type='hidden' name='question_id[]' id='qID_30' value='147758' \/><input type='hidden' id='answerType147758' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147758[]' id='answer-id-602077' class='answer   answerof-147758 ' value='602077'   \/><label for='answer-id-602077' id='answer-label-602077' class=' answer'><span>virtue<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147758[]' id='answer-id-602078' class='answer   answerof-147758 ' value='602078'   \/><label for='answer-id-602078' id='answer-label-602078' class=' answer'><span>none of these answers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147758[]' id='answer-id-602079' class='answer   answerof-147758 ' value='602079'   \/><label for='answer-id-602079' id='answer-label-602079' class=' answer'><span>honorability<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147758[]' id='answer-id-602080' class='answer   answerof-147758 ' value='602080'   \/><label for='answer-id-602080' id='answer-label-602080' class=' answer'><span>integrity<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147758[]' id='answer-id-602081' class='answer   answerof-147758 ' value='602081'   \/><label for='answer-id-602081' id='answer-label-602081' class=' answer'><span>morality<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-31' style=';'><div id='questionWrap-31'  class='   watupro-question-id-147759'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>31. <\/span>Standard IV of the Standards of Professional Conduct deals with Relationships with and Responsibilities to ________.<\/div><input type='hidden' name='question_id[]' id='qID_31' value='147759' \/><input type='hidden' id='answerType147759' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147759[]' id='answer-id-602082' class='answer   answerof-147759 ' value='602082'   \/><label for='answer-id-602082' id='answer-label-602082' class=' answer'><span>None of these answers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147759[]' id='answer-id-602083' class='answer   answerof-147759 ' value='602083'   \/><label for='answer-id-602083' id='answer-label-602083' class=' answer'><span>Clients and Prospects<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147759[]' id='answer-id-602084' class='answer   answerof-147759 ' value='602084'   \/><label for='answer-id-602084' id='answer-label-602084' class=' answer'><span>AIMR<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147759[]' id='answer-id-602085' class='answer   answerof-147759 ' value='602085'   \/><label for='answer-id-602085' id='answer-label-602085' class=' answer'><span>Supervisors<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147759[]' id='answer-id-602086' class='answer   answerof-147759 ' value='602086'   \/><label for='answer-id-602086' id='answer-label-602086' class=' answer'><span>the Employer<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-32' style=';'><div id='questionWrap-32'  class='   watupro-question-id-147760'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>32. <\/span>Each of the following is true regarding Standard II (A), except:<\/div><input type='hidden' name='question_id[]' id='qID_32' value='147760' \/><input type='hidden' id='answerType147760' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147760[]' id='answer-id-602087' class='answer   answerof-147760 ' value='602087'   \/><label for='answer-id-602087' id='answer-label-602087' class=' answer'><span>You must be registered for the next CFA exam in order to call yourself a candidate.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147760[]' id='answer-id-602088' class='answer   answerof-147760 ' value='602088'   \/><label for='answer-id-602088' id='answer-label-602088' class=' answer'><span>This standard relates to business cards and letterheads.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147760[]' id='answer-id-602089' class='answer   answerof-147760 ' value='602089'   \/><label for='answer-id-602089' id='answer-label-602089' class=' answer'><span>This standard does not relate to oral statements.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147760[]' id='answer-id-602090' class='answer   answerof-147760 ' value='602090'   \/><label for='answer-id-602090' id='answer-label-602090' class=' answer'><span>There is no designation for someone who has passed Level I, II, or II<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147760[]' id='answer-id-602091' class='answer   answerof-147760 ' value='602091'   \/><label for='answer-id-602091' id='answer-label-602091' class=' answer'><span>All of these answers.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147760[]' id='answer-id-602092' class='answer   answerof-147760 ' value='602092'   \/><label for='answer-id-602092' id='answer-label-602092' class=' answer'><span>Candidates may state that they have completed Level I, II, or II<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-33' style=';'><div id='questionWrap-33'  class='   watupro-question-id-147761'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>33. <\/span>Standard ________ pertains to fair dealing with customers and clients.<\/div><input type='hidden' name='question_id[]' id='qID_33' value='147761' \/><input type='hidden' id='answerType147761' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147761[]' id='answer-id-602093' class='answer   answerof-147761 ' value='602093'   \/><label for='answer-id-602093' id='answer-label-602093' class=' answer'><span>III (B)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147761[]' id='answer-id-602094' class='answer   answerof-147761 ' value='602094'   \/><label for='answer-id-602094' id='answer-label-602094' class=' answer'><span>IV (<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147761[]' id='answer-id-602095' class='answer   answerof-147761 ' value='602095'   \/><label for='answer-id-602095' id='answer-label-602095' class=' answer'><span>3)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147761[]' id='answer-id-602096' class='answer   answerof-147761 ' value='602096'   \/><label for='answer-id-602096' id='answer-label-602096' class=' answer'><span>IV (A)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147761[]' id='answer-id-602097' class='answer   answerof-147761 ' value='602097'   \/><label for='answer-id-602097' id='answer-label-602097' class=' answer'><span>I (D)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147761[]' id='answer-id-602098' class='answer   answerof-147761 ' value='602098'   \/><label for='answer-id-602098' id='answer-label-602098' class=' answer'><span>None of these answers<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-34' style=';'><div id='questionWrap-34'  class='   watupro-question-id-147762'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>34. <\/span>Social investments:<\/div><input type='hidden' name='question_id[]' id='qID_34' value='147762' \/><input type='hidden' id='answerType147762' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147762[]' id='answer-id-602099' class='answer   answerof-147762 ' value='602099'   \/><label for='answer-id-602099' id='answer-label-602099' class=' answer'><span>should never be used in pension fund investing.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147762[]' id='answer-id-602100' class='answer   answerof-147762 ' value='602100'   \/><label for='answer-id-602100' id='answer-label-602100' class=' answer'><span>in pensions must be well thought- out, making sure that such investments are legal and do not impair the integrity of the funds in questions or the financial security of the participants or beneficiaries.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147762[]' id='answer-id-602101' class='answer   answerof-147762 ' value='602101'   \/><label for='answer-id-602101' id='answer-label-602101' class=' answer'><span>none of these answers.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147762[]' id='answer-id-602102' class='answer   answerof-147762 ' value='602102'   \/><label for='answer-id-602102' id='answer-label-602102' class=' answer'><span>have yet to be used as an investment in pension funds in the<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147762[]' id='answer-id-602103' class='answer   answerof-147762 ' value='602103'   \/><label for='answer-id-602103' id='answer-label-602103' class=' answer'><span>are proper investment vehicles for pensions, since they are a &quot;public good.&quot;<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-35' style=';'><div id='questionWrap-35'  class='   watupro-question-id-147763'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>35. <\/span>Which of the following are considered basic characteristics of a security and must be included in research reports?<\/div><input type='hidden' name='question_id[]' id='qID_35' value='147763' \/><input type='hidden' id='answerType147763' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147763[]' id='answer-id-602104' class='answer   answerof-147763 ' value='602104'   \/><label for='answer-id-602104' id='answer-label-602104' class=' answer'><span>business risk<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147763[]' id='answer-id-602105' class='answer   answerof-147763 ' value='602105'   \/><label for='answer-id-602105' id='answer-label-602105' class=' answer'><span>degree of uncertainty<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147763[]' id='answer-id-602106' class='answer   answerof-147763 ' value='602106'   \/><label for='answer-id-602106' id='answer-label-602106' class=' answer'><span>annual expected income<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147763[]' id='answer-id-602107' class='answer   answerof-147763 ' value='602107'   \/><label for='answer-id-602107' id='answer-label-602107' class=' answer'><span>yield- to- maturity<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147763[]' id='answer-id-602108' class='answer   answerof-147763 ' value='602108'   \/><label for='answer-id-602108' id='answer-label-602108' class=' answer'><span>all of these answers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147763[]' id='answer-id-602109' class='answer   answerof-147763 ' value='602109'   \/><label for='answer-id-602109' id='answer-label-602109' class=' answer'><span>both degree of liquidity and yield- to- maturity<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147763[]' id='answer-id-602110' class='answer   answerof-147763 ' value='602110'   \/><label for='answer-id-602110' id='answer-label-602110' class=' answer'><span>expected annual rate of return<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-36' style=';'><div id='questionWrap-36'  class='   watupro-question-id-147764'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>36. <\/span>Fundamental Responsibilities is dealt with under:<\/div><input type='hidden' name='question_id[]' id='qID_36' value='147764' \/><input type='hidden' id='answerType147764' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147764[]' id='answer-id-602111' class='answer   answerof-147764 ' value='602111'   \/><label for='answer-id-602111' id='answer-label-602111' class=' answer'><span>Standard I<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147764[]' id='answer-id-602112' class='answer   answerof-147764 ' value='602112'   \/><label for='answer-id-602112' id='answer-label-602112' class=' answer'><span>Standard III<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147764[]' id='answer-id-602113' class='answer   answerof-147764 ' value='602113'   \/><label for='answer-id-602113' id='answer-label-602113' class=' answer'><span>None of these answers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147764[]' id='answer-id-602114' class='answer   answerof-147764 ' value='602114'   \/><label for='answer-id-602114' id='answer-label-602114' class=' answer'><span>Standard V<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147764[]' id='answer-id-602115' class='answer   answerof-147764 ' value='602115'   \/><label for='answer-id-602115' id='answer-label-602115' class=' answer'><span>Standard II<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147764[]' id='answer-id-602116' class='answer   answerof-147764 ' value='602116'   \/><label for='answer-id-602116' id='answer-label-602116' class=' answer'><span>Standard IV<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-37' style=';'><div id='questionWrap-37'  class='   watupro-question-id-147765'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>37. <\/span>Corporate directors are governed by the ________. Trustees are governed by the ________.<\/div><input type='hidden' name='question_id[]' id='qID_37' value='147765' \/><input type='hidden' id='answerType147765' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147765[]' id='answer-id-602117' class='answer   answerof-147765 ' value='602117'   \/><label for='answer-id-602117' id='answer-label-602117' class=' answer'><span>none of these answers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147765[]' id='answer-id-602118' class='answer   answerof-147765 ' value='602118'   \/><label for='answer-id-602118' id='answer-label-602118' class=' answer'><span>&quot;common sense doctrine&quot;; business judgment rule<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147765[]' id='answer-id-602119' class='answer   answerof-147765 ' value='602119'   \/><label for='answer-id-602119' id='answer-label-602119' class=' answer'><span>business judgment rule; Prudent Man Rule<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147765[]' id='answer-id-602120' class='answer   answerof-147765 ' value='602120'   \/><label for='answer-id-602120' id='answer-label-602120' class=' answer'><span>business judgment rule; &quot;common sense doctrine&quot;<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147765[]' id='answer-id-602121' class='answer   answerof-147765 ' value='602121'   \/><label for='answer-id-602121' id='answer-label-602121' class=' answer'><span>&quot;common sense doctrine&quot;; Prudent Man Rule<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147765[]' id='answer-id-602122' class='answer   answerof-147765 ' value='602122'   \/><label for='answer-id-602122' id='answer-label-602122' class=' answer'><span>Prudent Man Rule; business judgment rule<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147765[]' id='answer-id-602123' class='answer   answerof-147765 ' value='602123'   \/><label for='answer-id-602123' id='answer-label-602123' class=' answer'><span>Prudent Man Rule; &quot;common sense doctrine&quot;<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-38' style=';'><div id='questionWrap-38'  class='   watupro-question-id-147766'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>38. <\/span>Maria Golino is a financially savvy client of Hector Gomez, a portfolio manager with a small investment firm. Maria recently directed Hector to execute all trades on her behalf with Omega Brokerage. Omega charges higher commissions than most other brokerage firms but in this case, has agreed to provide research to Hector on behalf of Maria. Hector does not object to this and starts directing Maria's trades to Omega. Hector has<\/div><input type='hidden' name='question_id[]' id='qID_38' value='147766' \/><input type='hidden' id='answerType147766' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147766[]' id='answer-id-602124' class='answer   answerof-147766 ' value='602124'   \/><label for='answer-id-602124' id='answer-label-602124' class=' answer'><span>violated Standard IV (<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147766[]' id='answer-id-602125' class='answer   answerof-147766 ' value='602125'   \/><label for='answer-id-602125' id='answer-label-602125' class=' answer'><span>1) - Fiduciary Duties.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147766[]' id='answer-id-602126' class='answer   answerof-147766 ' value='602126'   \/><label for='answer-id-602126' id='answer-label-602126' class=' answer'><span>violated Standard IV (<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147766[]' id='answer-id-602127' class='answer   answerof-147766 ' value='602127'   \/><label for='answer-id-602127' id='answer-label-602127' class=' answer'><span>2) - Research Reports.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147766[]' id='answer-id-602128' class='answer   answerof-147766 ' value='602128'   \/><label for='answer-id-602128' id='answer-label-602128' class=' answer'><span>violated Standard IV (<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147766[]' id='answer-id-602129' class='answer   answerof-147766 ' value='602129'   \/><label for='answer-id-602129' id='answer-label-602129' class=' answer'><span>8) - Disclosure of Referral Fees.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147766[]' id='answer-id-602130' class='answer   answerof-147766 ' value='602130'   \/><label for='answer-id-602130' id='answer-label-602130' class=' answer'><span>not violated any standards.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-39' style=';'><div id='questionWrap-39'  class='   watupro-question-id-147767'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>39. <\/span>Another name for &quot;covered&quot; person is ________.<\/div><input type='hidden' name='question_id[]' id='qID_39' value='147767' \/><input type='hidden' id='answerType147767' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147767[]' id='answer-id-602131' class='answer   answerof-147767 ' value='602131'   \/><label for='answer-id-602131' id='answer-label-602131' class=' answer'><span>guardian<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147767[]' id='answer-id-602132' class='answer   answerof-147767 ' value='602132'   \/><label for='answer-id-602132' id='answer-label-602132' class=' answer'><span>none of these answers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147767[]' id='answer-id-602133' class='answer   answerof-147767 ' value='602133'   \/><label for='answer-id-602133' id='answer-label-602133' class=' answer'><span>ombudsman<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147767[]' id='answer-id-602134' class='answer   answerof-147767 ' value='602134'   \/><label for='answer-id-602134' id='answer-label-602134' class=' answer'><span>access person<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147767[]' id='answer-id-602135' class='answer   answerof-147767 ' value='602135'   \/><label for='answer-id-602135' id='answer-label-602135' class=' answer'><span>fiduciary<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147767[]' id='answer-id-602136' class='answer   answerof-147767 ' value='602136'   \/><label for='answer-id-602136' id='answer-label-602136' class=' answer'><span>supervisor<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-40' style=';'><div id='questionWrap-40'  class='   watupro-question-id-147768'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>40. <\/span>Which of the following can be found in Standard IV?<\/div><input type='hidden' name='question_id[]' id='qID_40' value='147768' \/><input type='hidden' id='answerType147768' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147768[]' id='answer-id-602137' class='answer   answerof-147768 ' value='602137'   \/><label for='answer-id-602137' id='answer-label-602137' class=' answer'><span>Members must use the CFA designation in a dignified manner.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147768[]' id='answer-id-602138' class='answer   answerof-147768 ' value='602138'   \/><label for='answer-id-602138' id='answer-label-602138' class=' answer'><span>Members shall make reasonable and diligent efforts to avoid any material misrepresentation in any research report or investment recommendation.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147768[]' id='answer-id-602139' class='answer   answerof-147768 ' value='602139'   \/><label for='answer-id-602139' id='answer-label-602139' class=' answer'><span>Members shall comply with any prohibitions on activities imposed by their employer if a conflict of interest exists.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147768[]' id='answer-id-602140' class='answer   answerof-147768 ' value='602140'   \/><label for='answer-id-602140' id='answer-label-602140' class=' answer'><span>Members shall maintain knowledge of AIMR's Code of Ethics.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147768[]' id='answer-id-602141' class='answer   answerof-147768 ' value='602141'   \/><label for='answer-id-602141' id='answer-label-602141' class=' answer'><span>If members receive material nonpublic information in confidence, they shall not breach that confidence by trading or causing others to trade in securities to which such information relates.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-41' style=';'><div id='questionWrap-41'  class='   watupro-question-id-147769'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>41. <\/span>If a firm uses discretionary leverage, it must present performance using:<\/div><input type='hidden' name='question_id[]' id='qID_41' value='147769' \/><input type='hidden' id='answerType147769' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147769[]' id='answer-id-602142' class='answer   answerof-147769 ' value='602142'   \/><label for='answer-id-602142' id='answer-label-602142' class=' answer'><span>all- cash basis i.e. removing leverage effects.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147769[]' id='answer-id-602143' class='answer   answerof-147769 ' value='602143'   \/><label for='answer-id-602143' id='answer-label-602143' class=' answer'><span>both actual returns and all- cash basis.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147769[]' id='answer-id-602144' class='answer   answerof-147769 ' value='602144'   \/><label for='answer-id-602144' id='answer-label-602144' class=' answer'><span>none of these answers.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147769[]' id='answer-id-602145' class='answer   answerof-147769 ' value='602145'   \/><label for='answer-id-602145' id='answer-label-602145' class=' answer'><span>actual returns.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-42' style=';'><div id='questionWrap-42'  class='   watupro-question-id-147770'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>42. <\/span>Kruskal Meriwether is a senior research analyst with Bellwether Advisors. He has been following Crystals &amp; Candles a publicly traded firm which makes high- quality diamond jewelry. Kruskal, after extensive interviews with senior management at Crystals, has inferred that the firm is about to take over a diamond- mining firm in South Africa at a rock- bottom price. The Crystal management has refused to explicitly confirm or deny this but Kruskal firmly believes that such a deal is in the works. He has not used any inside information; just pieced together information from various avenues to come to this conclusion. In his reports, he states, &quot;All my research seems to indicate that Crystal &amp; Candles is likely to buy a South African diamond producer at a bargain price. Clearly, now is the time to buy Crystal and Candles' stock.&quot; 2 weeks after his report is released, Crystal's management announces that it has no intentions of making any acquisitions in the near future. This leads to a 7% decline in Crystal's stock, causing a large decline in the accounts of Kruskal's clients. Kruskal has<\/div><input type='hidden' name='question_id[]' id='qID_42' value='147770' \/><input type='hidden' id='answerType147770' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147770[]' id='answer-id-602146' class='answer   answerof-147770 ' value='602146'   \/><label for='answer-id-602146' id='answer-label-602146' class=' answer'><span>violated Standard IV (<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147770[]' id='answer-id-602147' class='answer   answerof-147770 ' value='602147'   \/><label for='answer-id-602147' id='answer-label-602147' class=' answer'><span>1) - Reasonable Basis &amp; Representation.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147770[]' id='answer-id-602148' class='answer   answerof-147770 ' value='602148'   \/><label for='answer-id-602148' id='answer-label-602148' class=' answer'><span>not violated any AIMR code in this incident.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147770[]' id='answer-id-602149' class='answer   answerof-147770 ' value='602149'   \/><label for='answer-id-602149' id='answer-label-602149' class=' answer'><span>violated Standard IV (<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147770[]' id='answer-id-602150' class='answer   answerof-147770 ' value='602150'   \/><label for='answer-id-602150' id='answer-label-602150' class=' answer'><span>2) - Portfolio Investment Recommendations and Actions.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147770[]' id='answer-id-602151' class='answer   answerof-147770 ' value='602151'   \/><label for='answer-id-602151' id='answer-label-602151' class=' answer'><span>violated Standard IV (<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147770[]' id='answer-id-602152' class='answer   answerof-147770 ' value='602152'   \/><label for='answer-id-602152' id='answer-label-602152' class=' answer'><span>1) - Fiduciary Duties.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-43' style=';'><div id='questionWrap-43'  class='   watupro-question-id-147771'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>43. <\/span>Standard II (C) deals with ________.<\/div><input type='hidden' name='question_id[]' id='qID_43' value='147771' \/><input type='hidden' id='answerType147771' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147771[]' id='answer-id-602153' class='answer   answerof-147771 ' value='602153'   \/><label for='answer-id-602153' id='answer-label-602153' class=' answer'><span>None of these answers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147771[]' id='answer-id-602154' class='answer   answerof-147771 ' value='602154'   \/><label for='answer-id-602154' id='answer-label-602154' class=' answer'><span>Obligation to Inform Employer of Code and Standards<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147771[]' id='answer-id-602155' class='answer   answerof-147771 ' value='602155'   \/><label for='answer-id-602155' id='answer-label-602155' class=' answer'><span>Disclosure of Conflicts to Employer<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147771[]' id='answer-id-602156' class='answer   answerof-147771 ' value='602156'   \/><label for='answer-id-602156' id='answer-label-602156' class=' answer'><span>Duty to Employer<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147771[]' id='answer-id-602157' class='answer   answerof-147771 ' value='602157'   \/><label for='answer-id-602157' id='answer-label-602157' class=' answer'><span>Fundamental Responsibilities<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147771[]' id='answer-id-602158' class='answer   answerof-147771 ' value='602158'   \/><label for='answer-id-602158' id='answer-label-602158' class=' answer'><span>Plagiarism<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147771[]' id='answer-id-602159' class='answer   answerof-147771 ' value='602159'   \/><label for='answer-id-602159' id='answer-label-602159' class=' answer'><span>Use of Professional Designation<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147771[]' id='answer-id-602160' class='answer   answerof-147771 ' value='602160'   \/><label for='answer-id-602160' id='answer-label-602160' class=' answer'><span>Professional Misconduct<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-44' style=';'><div id='questionWrap-44'  class='   watupro-question-id-147772'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>44. <\/span>Which of the following AIMR Standards states that client transactions must have priority over transactions in which the analyst is a beneficial owner?<\/div><input type='hidden' name='question_id[]' id='qID_44' value='147772' \/><input type='hidden' id='answerType147772' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147772[]' id='answer-id-602161' class='answer   answerof-147772 ' value='602161'   \/><label for='answer-id-602161' id='answer-label-602161' class=' answer'><span>V<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147772[]' id='answer-id-602162' class='answer   answerof-147772 ' value='602162'   \/><label for='answer-id-602162' id='answer-label-602162' class=' answer'><span>None of these answers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147772[]' id='answer-id-602163' class='answer   answerof-147772 ' value='602163'   \/><label for='answer-id-602163' id='answer-label-602163' class=' answer'><span>VII<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147772[]' id='answer-id-602164' class='answer   answerof-147772 ' value='602164'   \/><label for='answer-id-602164' id='answer-label-602164' class=' answer'><span>VI<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-45' style=';'><div id='questionWrap-45'  class='   watupro-question-id-147773'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>45. <\/span>Cariella is a junior analyst who is currently preparing a report on a diamond producing firm, Dense Carbon, Inc. Dense Carbon recently announced that the results of a mining survey in its South African diamond mines were in, which revealed substantial amounts of diamond reserves for the first time. It has offered to take a few industry analysts for a tour of the facilities and take stock of the situation first hand. During this tour, all expenses, including air- fare and basic accommodations, were provided for by Dense Carbon. Since the visit spanned a weekend, Dense Carbon also arranged for a Safari tour for all the analysts. Cariella did not consider the safari to be an undue entertainment, given the fact that the analysts had to be in the middle of nowhere for 5 days. She was quite assiduous in her appraisal of the mining reserves and in the final analysis, the tour proved extremely valuable to her analysis. <br \/>\r<br>However, she did not reveal the fact about the Safari trip to her employer. Cariella has <br \/>\r<br>I. violated Standard III (C) - Disclosure of Conflicts to Employer. <br \/>\r<br>II. violated Standard IV (A.1) - Reasonable Basis and Representations. <br \/>\r<br>III. violated Standard IV (A.3) - Independence and Objectivity. <br \/>\r<br>IV. not violated the AIMR code of ethics.<\/div><input type='hidden' name='question_id[]' id='qID_45' value='147773' \/><input type='hidden' id='answerType147773' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147773[]' id='answer-id-602165' class='answer   answerof-147773 ' value='602165'   \/><label for='answer-id-602165' id='answer-label-602165' class=' answer'><span>I only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147773[]' id='answer-id-602166' class='answer   answerof-147773 ' value='602166'   \/><label for='answer-id-602166' id='answer-label-602166' class=' answer'><span>I and III only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147773[]' id='answer-id-602167' class='answer   answerof-147773 ' value='602167'   \/><label for='answer-id-602167' id='answer-label-602167' class=' answer'><span>I, II and III only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147773[]' id='answer-id-602168' class='answer   answerof-147773 ' value='602168'   \/><label for='answer-id-602168' id='answer-label-602168' class=' answer'><span>IV only<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-46' style=';'><div id='questionWrap-46'  class='   watupro-question-id-147774'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>46. <\/span>Arbaaz, an AIMR member, works for an investment advisory firm, Leon Investments. His friend, Shahzad, recently asked him for some investment recommendations. Arbaaz analyzed Shahzad's portfolio over a weekend and suggested some changes. While he did not accept any remuneration, Shahzad promised him some gifts if his portfolio &quot;performed well.&quot; Arbaaz did not inform his employer since he thought he was helping a friend and in any case, the Shahzad's account was extremely small and there were no financial payments. Arbaaz has:<\/div><input type='hidden' name='question_id[]' id='qID_46' value='147774' \/><input type='hidden' id='answerType147774' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147774[]' id='answer-id-602169' class='answer   answerof-147774 ' value='602169'   \/><label for='answer-id-602169' id='answer-label-602169' class=' answer'><span>violated Standard III (B), Duty to Employer.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147774[]' id='answer-id-602170' class='answer   answerof-147774 ' value='602170'   \/><label for='answer-id-602170' id='answer-label-602170' class=' answer'><span>has not violated Standard III (B), Duty to Employer, because there was no financial remuneration.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147774[]' id='answer-id-602171' class='answer   answerof-147774 ' value='602171'   \/><label for='answer-id-602171' id='answer-label-602171' class=' answer'><span>has not violated Standard III (B), Duty to Employer, because Shahzad's account was too small to be deemed lost business for Leon Investments.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147774[]' id='answer-id-602172' class='answer   answerof-147774 ' value='602172'   \/><label for='answer-id-602172' id='answer-label-602172' class=' answer'><span>has not violated Standard III (B), Duty to Employer, because Arbaaz is free to do what he wants on his time as long as it doesn't affect Leon Investments.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-47' style=';'><div id='questionWrap-47'  class='   watupro-question-id-147775'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>47. <\/span>&quot;Restricted Periods&quot; are discussed in Standard IV (B.4), Priority of Transactions. Another name for restricted periods is ________ periods.<\/div><input type='hidden' name='question_id[]' id='qID_47' value='147775' \/><input type='hidden' id='answerType147775' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147775[]' id='answer-id-602173' class='answer   answerof-147775 ' value='602173'   \/><label for='answer-id-602173' id='answer-label-602173' class=' answer'><span>blackout<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147775[]' id='answer-id-602174' class='answer   answerof-147775 ' value='602174'   \/><label for='answer-id-602174' id='answer-label-602174' class=' answer'><span>restrained<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147775[]' id='answer-id-602175' class='answer   answerof-147775 ' value='602175'   \/><label for='answer-id-602175' id='answer-label-602175' class=' answer'><span>none of these answers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147775[]' id='answer-id-602176' class='answer   answerof-147775 ' value='602176'   \/><label for='answer-id-602176' id='answer-label-602176' class=' answer'><span>captive<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-48' style=';'><div id='questionWrap-48'  class='   watupro-question-id-147776'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>48. <\/span>Liz Hurley is an investment advisor who has recently started advising a client, Zeta, regarding investment decisions. Zeta lives in Imphal, where investment laws are quite lax, almost non- existent. Hurley is domiciled in Britania, where investment laws clearly specify that the laws governing finance professionals in any given case are the laws that govern their clients. Britania laws, in general, are far stricter than the AIMR code of ethics. In her dealings with Zeta, Hurley must follow<\/div><input type='hidden' name='question_id[]' id='qID_48' value='147776' \/><input type='hidden' id='answerType147776' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147776[]' id='answer-id-602177' class='answer   answerof-147776 ' value='602177'   \/><label for='answer-id-602177' id='answer-label-602177' class=' answer'><span>Imphal's laws.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147776[]' id='answer-id-602178' class='answer   answerof-147776 ' value='602178'   \/><label for='answer-id-602178' id='answer-label-602178' class=' answer'><span>Britania's laws.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147776[]' id='answer-id-602179' class='answer   answerof-147776 ' value='602179'   \/><label for='answer-id-602179' id='answer-label-602179' class=' answer'><span>AIMR's code of ethics.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147776[]' id='answer-id-602180' class='answer   answerof-147776 ' value='602180'   \/><label for='answer-id-602180' id='answer-label-602180' class=' answer'><span>a combination of Britania's laws and AIMR code which results in a stricter set of laws.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-49' style=';'><div id='questionWrap-49'  class='   watupro-question-id-147777'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>49. <\/span>In order to inform your employer that as a member of AIMR, you must abide by the code of ethics, you must:<\/div><input type='hidden' name='question_id[]' id='qID_49' value='147777' \/><input type='hidden' id='answerType147777' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147777[]' id='answer-id-602181' class='answer   answerof-147777 ' value='602181'   \/><label for='answer-id-602181' id='answer-label-602181' class=' answer'><span>inform the legal department in writing.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147777[]' id='answer-id-602182' class='answer   answerof-147777 ' value='602182'   \/><label for='answer-id-602182' id='answer-label-602182' class=' answer'><span>inform senior management in writing.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147777[]' id='answer-id-602183' class='answer   answerof-147777 ' value='602183'   \/><label for='answer-id-602183' id='answer-label-602183' class=' answer'><span>inform your immediate supervisor in writing or by email.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147777[]' id='answer-id-602184' class='answer   answerof-147777 ' value='602184'   \/><label for='answer-id-602184' id='answer-label-602184' class=' answer'><span>inform your supervisor in writing, by email or orally.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-50' style=';'><div id='questionWrap-50'  class='   watupro-question-id-147778'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>50. <\/span>Spassky was assigned the task of managing the portfolio of Fisher three days ago when Anand, who was managing Fisher's portfolio, retired. Fisher's portfolio consists of some deep- in- the- money put options, which will be exercised today, resulting in a cash flow of about $40,000. Spassky has not yet had a chance to meet Fisher in person to determine his needs, investment objectives and risk appetite. He did get a briefing from Anand about the portfolio and has a general idea about Fisher's investment attitude. In fact, over the past two years, Fisher's portfolio has generated handsome returns due to high- risk investments which Fisher prefers. Spassky's problem is determining what he should do with the $40,000. According to the AIMR Code of Ethics, he should:<\/div><input type='hidden' name='question_id[]' id='qID_50' value='147778' \/><input type='hidden' id='answerType147778' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147778[]' id='answer-id-602185' class='answer   answerof-147778 ' value='602185'   \/><label for='answer-id-602185' id='answer-label-602185' class=' answer'><span>keep the money in cash form and not risk it till he can meet Fisher to discuss the situation.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147778[]' id='answer-id-602186' class='answer   answerof-147778 ' value='602186'   \/><label for='answer-id-602186' id='answer-label-602186' class=' answer'><span>&quot;roll over&quot; the put positions for another week or two till he can meet Fisher and discuss the reinvestment of the funds.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147778[]' id='answer-id-602187' class='answer   answerof-147778 ' value='602187'   \/><label for='answer-id-602187' id='answer-label-602187' class=' answer'><span>invest the funds in a diversified portfolio with a risk profile similar to what Anand and Fisher have been maintaining over the past 3 months.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147778[]' id='answer-id-602188' class='answer   answerof-147778 ' value='602188'   \/><label for='answer-id-602188' id='answer-label-602188' class=' answer'><span>invest the funds in highly liquid, cash equivalent assets till he can meet Fisher and determine his needs, investment objectives and risk appetite.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-51' style=';'><div id='questionWrap-51'  class='   watupro-question-id-147779'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>51. <\/span>Willier is the research analyst responsible for following Company X. All the information he has accumulated and documented suggest that the outlook for the firm's new products is poor, so the stock should be rated a weak hold. During lunch, however, Willier overhears a financial analyst from another firm offer opinions that conflict with Willier's forecasts and expectations. Upon returning to his office, Willier releases a strong buy recommendation to the public. Willier:<\/div><input type='hidden' name='question_id[]' id='qID_51' value='147779' \/><input type='hidden' id='answerType147779' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147779[]' id='answer-id-602189' class='answer   answerof-147779 ' value='602189'   \/><label for='answer-id-602189' id='answer-label-602189' class=' answer'><span>violated the Standards by failing to distinguish between facts and opinions in his recommendation.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147779[]' id='answer-id-602190' class='answer   answerof-147779 ' value='602190'   \/><label for='answer-id-602190' id='answer-label-602190' class=' answer'><span>was in full compliance with the Standards.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147779[]' id='answer-id-602191' class='answer   answerof-147779 ' value='602191'   \/><label for='answer-id-602191' id='answer-label-602191' class=' answer'><span>violated the Standards because he did not have a reasonable and adequate basis for his recommendation.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147779[]' id='answer-id-602192' class='answer   answerof-147779 ' value='602192'   \/><label for='answer-id-602192' id='answer-label-602192' class=' answer'><span>violated the Standards because he did not seek approval of the change from his firm's compliance department.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-52' style=';'><div id='questionWrap-52'  class='   watupro-question-id-147780'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>52. <\/span>Under AIMR Rules of Procedure for the Proceeding Related to Professional Conduct, membership in AIMR and\/or the right to hold and to use the CFA designation may be summarily suspended by AIMR's Designated Officer for the following misconduct: <br \/>\r<br>I. Conviction for a crime that is defined as a felony or its equivalent. <br \/>\r<br>II. Indefinite bar from registration under the securities laws (even though reapplication may be made after a specific period of time). <br \/>\r<br>III. Failure to complete and return a professional conduct statement for each of two successive years.<\/div><input type='hidden' name='question_id[]' id='qID_52' value='147780' \/><input type='hidden' id='answerType147780' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147780[]' id='answer-id-602193' class='answer   answerof-147780 ' value='602193'   \/><label for='answer-id-602193' id='answer-label-602193' class=' answer'><span>I only.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147780[]' id='answer-id-602194' class='answer   answerof-147780 ' value='602194'   \/><label for='answer-id-602194' id='answer-label-602194' class=' answer'><span>I and II only.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147780[]' id='answer-id-602195' class='answer   answerof-147780 ' value='602195'   \/><label for='answer-id-602195' id='answer-label-602195' class=' answer'><span>IV only.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147780[]' id='answer-id-602196' class='answer   answerof-147780 ' value='602196'   \/><label for='answer-id-602196' id='answer-label-602196' class=' answer'><span>II only.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147780[]' id='answer-id-602197' class='answer   answerof-147780 ' value='602197'   \/><label for='answer-id-602197' id='answer-label-602197' class=' answer'><span>III only.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147780[]' id='answer-id-602198' class='answer   answerof-147780 ' value='602198'   \/><label for='answer-id-602198' id='answer-label-602198' class=' answer'><span>II and III only.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147780[]' id='answer-id-602199' class='answer   answerof-147780 ' value='602199'   \/><label for='answer-id-602199' id='answer-label-602199' class=' answer'><span>I, II and II<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-53' style=';'><div id='questionWrap-53'  class='   watupro-question-id-147781'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>53. <\/span>Grey recommends the purchase of a mutual fund that invests solely in long- term U.S. <br \/>\r<br>Treasury bonds. He makes the following statements to his clients: <br \/>\r<br>I. &quot;The payment of the bond is guaranteed by the U.S. government; therefore, the default risk of the bonds is virtually zero.&quot; <br \/>\r<br>II. &quot;If you invest in the mutual fund, you will earn a 15 percent rate of return each year for the next several years.&quot; Did Grey's statements violated AIMR's Code and Standards?<\/div><input type='hidden' name='question_id[]' id='qID_53' value='147781' \/><input type='hidden' id='answerType147781' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147781[]' id='answer-id-602200' class='answer   answerof-147781 ' value='602200'   \/><label for='answer-id-602200' id='answer-label-602200' class=' answer'><span>Neither statement violated the Code and Standards.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147781[]' id='answer-id-602201' class='answer   answerof-147781 ' value='602201'   \/><label for='answer-id-602201' id='answer-label-602201' class=' answer'><span>Statement I and II violated the code and Standards.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147781[]' id='answer-id-602202' class='answer   answerof-147781 ' value='602202'   \/><label for='answer-id-602202' id='answer-label-602202' class=' answer'><span>Only statement I violated the Code and Standards.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147781[]' id='answer-id-602203' class='answer   answerof-147781 ' value='602203'   \/><label for='answer-id-602203' id='answer-label-602203' class=' answer'><span>Only statement II violated the Code and Standards.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-54' style=';'><div id='questionWrap-54'  class='   watupro-question-id-147782'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>54. <\/span>Standard III (D) is ________.<\/div><input type='hidden' name='question_id[]' id='qID_54' value='147782' \/><input type='hidden' id='answerType147782' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147782[]' id='answer-id-602204' class='answer   answerof-147782 ' value='602204'   \/><label for='answer-id-602204' id='answer-label-602204' class=' answer'><span>None of these answers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147782[]' id='answer-id-602205' class='answer   answerof-147782 ' value='602205'   \/><label for='answer-id-602205' id='answer-label-602205' class=' answer'><span>Disclosure of Additional Compensation Arrangements<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147782[]' id='answer-id-602206' class='answer   answerof-147782 ' value='602206'   \/><label for='answer-id-602206' id='answer-label-602206' class=' answer'><span>Disclosure of Conflicts to Employer<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147782[]' id='answer-id-602207' class='answer   answerof-147782 ' value='602207'   \/><label for='answer-id-602207' id='answer-label-602207' class=' answer'><span>Obligation to Inform Employer of Code and Standards<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147782[]' id='answer-id-602208' class='answer   answerof-147782 ' value='602208'   \/><label for='answer-id-602208' id='answer-label-602208' class=' answer'><span>Duty to Employer<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147782[]' id='answer-id-602209' class='answer   answerof-147782 ' value='602209'   \/><label for='answer-id-602209' id='answer-label-602209' class=' answer'><span>Responsibilities of Supervisors<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-55' style=';'><div id='questionWrap-55'  class='   watupro-question-id-147783'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>55. <\/span>Level I verification requires independent attestation that the requirements of the AIMR- PPS have been met on a(n) ________ basis.<\/div><input type='hidden' name='question_id[]' id='qID_55' value='147783' \/><input type='hidden' id='answerType147783' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147783[]' id='answer-id-602210' class='answer   answerof-147783 ' value='602210'   \/><label for='answer-id-602210' id='answer-label-602210' class=' answer'><span>international<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147783[]' id='answer-id-602211' class='answer   answerof-147783 ' value='602211'   \/><label for='answer-id-602211' id='answer-label-602211' class=' answer'><span>attainable<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147783[]' id='answer-id-602212' class='answer   answerof-147783 ' value='602212'   \/><label for='answer-id-602212' id='answer-label-602212' class=' answer'><span>nationwide<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147783[]' id='answer-id-602213' class='answer   answerof-147783 ' value='602213'   \/><label for='answer-id-602213' id='answer-label-602213' class=' answer'><span>firmwide<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-56' style=';'><div id='questionWrap-56'  class='   watupro-question-id-147784'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>56. <\/span>Carmina Aburana is a sales assistant to Drew Door, a sales manager at Hicost Brokerage. Hicost has a policy of requiring at least 20% margin on stocks that are deemed illiquid or extremely risky. For these purposes, it creates and updates a list of such stocks on a weekly basis. Yoddly Yoo, Inc. is an up and coming internet firm whose stock has been on this list for some time now. One of Carmina's &quot;blue chip&quot; clients, Amadeus, has been speculating on Yoddly's stock for the past two weeks, repeatedly going in and out of the market. In this process, he has unfortunately generated significant losses and his margin on the account has fallen to 12%. To make up for the shortfall, Amadeus calls up Carmina and requests a &quot;borrowing on the account&quot; of 10% for the next 2 weeks, promising to pay a hefty interest rate of 38%on an annualized basis. Since Amadeus has never been in default, Carmina agrees to the arrangement and moves some funds from another client's account. There is no explicit rule at Hicost that prohibits such an arrangement, though it is clearly an oversight on part of the Compliance department. Drew notices this transaction and calls Carmina for an explanation. On hearing the explanation, he tells Carmina that such arrangements are in violation of the company rules and should not be repeated. After 2 weeks, Amadeus supplies the necessary margin for his account.<\/div><input type='hidden' name='question_id[]' id='qID_56' value='147784' \/><input type='hidden' id='answerType147784' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147784[]' id='answer-id-602214' class='answer   answerof-147784 ' value='602214'   \/><label for='answer-id-602214' id='answer-label-602214' class=' answer'><span>Drew has violated Standard II (B) - Professional Misconduct.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147784[]' id='answer-id-602215' class='answer   answerof-147784 ' value='602215'   \/><label for='answer-id-602215' id='answer-label-602215' class=' answer'><span>Carmina has not violated any AIMR code but Drew has violated Standard III (E) - Responsibilities of Supervisors.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147784[]' id='answer-id-602216' class='answer   answerof-147784 ' value='602216'   \/><label for='answer-id-602216' id='answer-label-602216' class=' answer'><span>None of these answers, since the infraction was too minor and inconsequential.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147784[]' id='answer-id-602217' class='answer   answerof-147784 ' value='602217'   \/><label for='answer-id-602217' id='answer-label-602217' class=' answer'><span>Carmina has violated Standard III (B) - Duty to Employer.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-57' style=';'><div id='questionWrap-57'  class='   watupro-question-id-147785'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>57. <\/span>Susan Jackson, with HRS Investments, is appearing in court as an expert witness. She will have to use research done at HRS, to which she did not contribute directly, during her testimony. <br \/>\r<br>Which of the following is true, in relation to Jackson's need to comply with Standard II (C)?<\/div><input type='hidden' name='question_id[]' id='qID_57' value='147785' \/><input type='hidden' id='answerType147785' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147785[]' id='answer-id-602218' class='answer   answerof-147785 ' value='602218'   \/><label for='answer-id-602218' id='answer-label-602218' class=' answer'><span>Jackson is representing herself and may or may not attribute any of HRS's research.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147785[]' id='answer-id-602219' class='answer   answerof-147785 ' value='602219'   \/><label for='answer-id-602219' id='answer-label-602219' class=' answer'><span>Jackson is representing HRS and must attribute any of HRS's research.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147785[]' id='answer-id-602220' class='answer   answerof-147785 ' value='602220'   \/><label for='answer-id-602220' id='answer-label-602220' class=' answer'><span>Jackson is representing herself and must attribute any of HRS's research.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147785[]' id='answer-id-602221' class='answer   answerof-147785 ' value='602221'   \/><label for='answer-id-602221' id='answer-label-602221' class=' answer'><span>There is not enough information given to answer this question.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147785[]' id='answer-id-602222' class='answer   answerof-147785 ' value='602222'   \/><label for='answer-id-602222' id='answer-label-602222' class=' answer'><span>Jackson is representing HRS and may or may not attribute any of HRS's research.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-58' style=';'><div id='questionWrap-58'  class='   watupro-question-id-147786'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>58. <\/span>Which of the following AIMR Standards states that additional compensation agreements must be disclosed to the employer?<\/div><input type='hidden' name='question_id[]' id='qID_58' value='147786' \/><input type='hidden' id='answerType147786' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147786[]' id='answer-id-602223' class='answer   answerof-147786 ' value='602223'   \/><label for='answer-id-602223' id='answer-label-602223' class=' answer'><span>IV<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147786[]' id='answer-id-602224' class='answer   answerof-147786 ' value='602224'   \/><label for='answer-id-602224' id='answer-label-602224' class=' answer'><span>III (D)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147786[]' id='answer-id-602225' class='answer   answerof-147786 ' value='602225'   \/><label for='answer-id-602225' id='answer-label-602225' class=' answer'><span>V<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147786[]' id='answer-id-602226' class='answer   answerof-147786 ' value='602226'   \/><label for='answer-id-602226' id='answer-label-602226' class=' answer'><span>VI (B)<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-59' style=';'><div id='questionWrap-59'  class='   watupro-question-id-147787'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>59. <\/span>When an analyst reaches conclusions about a firm's impending announcements before the actual release of information, using non- material, non- public information in conjunction with public information, insider trading charges cannot be leveled against her. <br \/>\r<br>This arises from a legal defense against insider trading charges known as:<\/div><input type='hidden' name='question_id[]' id='qID_59' value='147787' \/><input type='hidden' id='answerType147787' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147787[]' id='answer-id-602227' class='answer   answerof-147787 ' value='602227'   \/><label for='answer-id-602227' id='answer-label-602227' class=' answer'><span>the Shingles Theory.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147787[]' id='answer-id-602228' class='answer   answerof-147787 ' value='602228'   \/><label for='answer-id-602228' id='answer-label-602228' class=' answer'><span>the question is based on false premise. The analyst can be held responsible for insider trading if she uses any inside information in her conclusions.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147787[]' id='answer-id-602229' class='answer   answerof-147787 ' value='602229'   \/><label for='answer-id-602229' id='answer-label-602229' class=' answer'><span>the Insider Legal Statute.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147787[]' id='answer-id-602230' class='answer   answerof-147787 ' value='602230'   \/><label for='answer-id-602230' id='answer-label-602230' class=' answer'><span>the Mosaic Theory.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-60' style=';'><div id='questionWrap-60'  class='   watupro-question-id-147788'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>60. <\/span>Smith, a research analyst with a brokerage firm, decides to change his recommendation on the common stock of Green company, Inc., from a buy to a sell. He mails this change in investment advice to all the firm's clients on Wednesday. The day after the mailing, a client calls with a buy for 500 shares of Green Company. <br \/>\r<br>In this circumstance, Smith should:<\/div><input type='hidden' name='question_id[]' id='qID_60' value='147788' \/><input type='hidden' id='answerType147788' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147788[]' id='answer-id-602231' class='answer   answerof-147788 ' value='602231'   \/><label for='answer-id-602231' id='answer-label-602231' class=' answer'><span>accept the order.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147788[]' id='answer-id-602232' class='answer   answerof-147788 ' value='602232'   \/><label for='answer-id-602232' id='answer-label-602232' class=' answer'><span>advise the customer of the change in recommendation before accepting the order.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147788[]' id='answer-id-602233' class='answer   answerof-147788 ' value='602233'   \/><label for='answer-id-602233' id='answer-label-602233' class=' answer'><span>not accept the order because it is contrary to the firm's recommendation.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147788[]' id='answer-id-602234' class='answer   answerof-147788 ' value='602234'   \/><label for='answer-id-602234' id='answer-label-602234' class=' answer'><span>not accept the order until five days have elapsed after the communication of the change in recommendation.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-61' style=';'><div id='questionWrap-61'  class='   watupro-question-id-147789'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>61. <\/span>Mirabelle is an experienced analyst who has worked for the investment research arm of Clifford &amp; Clifford, Inc. for the past 7 years. Recently, TransOmega retained Clifford &amp; Clifford to conduct a study on possible takeover candidates in the aviation industry. Mirabelle has been given the project and two assistants to conduct the research. During their review, Mirabelle's assistants located a research report created recently by Donaldson, a freelance analyst. Mirabelle found the report thorough, though she did not agree with many of Donaldson's conclusions. She carried out further inquiry along those lines and modified the report with new conclusions. She showed the completed report, with proper attributions to Donaldson in places where she had used his results, to a senior partner, John Cliff of Clifford &amp; Clifford. The report was approved and released to TransOmega. In this case,<\/div><input type='hidden' name='question_id[]' id='qID_61' value='147789' \/><input type='hidden' id='answerType147789' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147789[]' id='answer-id-602235' class='answer   answerof-147789 ' value='602235'   \/><label for='answer-id-602235' id='answer-label-602235' class=' answer'><span>both Mirabelle and John Cliff violated the standards.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147789[]' id='answer-id-602236' class='answer   answerof-147789 ' value='602236'   \/><label for='answer-id-602236' id='answer-label-602236' class=' answer'><span>only Mirabelle violated the plagiarism standard by using Donaldson's report.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147789[]' id='answer-id-602237' class='answer   answerof-147789 ' value='602237'   \/><label for='answer-id-602237' id='answer-label-602237' class=' answer'><span>only John Cliff violated the Standard of Reasonable Care (IV<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147789[]' id='answer-id-602238' class='answer   answerof-147789 ' value='602238'   \/><label for='answer-id-602238' id='answer-label-602238' class=' answer'><span>1) by not adequately monitoring Mirabelle.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147789[]' id='answer-id-602239' class='answer   answerof-147789 ' value='602239'   \/><label for='answer-id-602239' id='answer-label-602239' class=' answer'><span>neither Mirabelle nor John Cliff violated any of the standards.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-62' style=';'><div id='questionWrap-62'  class='   watupro-question-id-147790'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>62. <\/span>According to the AIMR- PPS when presenting results, annual returns for all years must be presented. Performance for periods of less than one year<\/div><input type='hidden' name='question_id[]' id='qID_62' value='147790' \/><input type='hidden' id='answerType147790' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147790[]' id='answer-id-602240' class='answer   answerof-147790 ' value='602240'   \/><label for='answer-id-602240' id='answer-label-602240' class=' answer'><span>must be treated as all of the other performance results.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147790[]' id='answer-id-602241' class='answer   answerof-147790 ' value='602241'   \/><label for='answer-id-602241' id='answer-label-602241' class=' answer'><span>must not be included in the presentation.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147790[]' id='answer-id-602242' class='answer   answerof-147790 ' value='602242'   \/><label for='answer-id-602242' id='answer-label-602242' class=' answer'><span>must not be annualized.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147790[]' id='answer-id-602243' class='answer   answerof-147790 ' value='602243'   \/><label for='answer-id-602243' id='answer-label-602243' class=' answer'><span>must be prorated and appropriate disclosures made.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-63' style=';'><div id='questionWrap-63'  class='   watupro-question-id-147791'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>63. <\/span>________ accounting is mandatory for fixed- income securities.<\/div><input type='hidden' name='question_id[]' id='qID_63' value='147791' \/><input type='hidden' id='answerType147791' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147791[]' id='answer-id-602244' class='answer   answerof-147791 ' value='602244'   \/><label for='answer-id-602244' id='answer-label-602244' class=' answer'><span>Accrual<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147791[]' id='answer-id-602245' class='answer   answerof-147791 ' value='602245'   \/><label for='answer-id-602245' id='answer-label-602245' class=' answer'><span>Cash<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147791[]' id='answer-id-602246' class='answer   answerof-147791 ' value='602246'   \/><label for='answer-id-602246' id='answer-label-602246' class=' answer'><span>Flexible<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147791[]' id='answer-id-602247' class='answer   answerof-147791 ' value='602247'   \/><label for='answer-id-602247' id='answer-label-602247' class=' answer'><span>Equal<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147791[]' id='answer-id-602248' class='answer   answerof-147791 ' value='602248'   \/><label for='answer-id-602248' id='answer-label-602248' class=' answer'><span>Risk- free<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147791[]' id='answer-id-602249' class='answer   answerof-147791 ' value='602249'   \/><label for='answer-id-602249' id='answer-label-602249' class=' answer'><span>Total<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-64' style=';'><div id='questionWrap-64'  class='   watupro-question-id-147792'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>64. <\/span>Joseph Silk is a veteran money manager with Aakanksha, Inc., a hedge fund that caters to high net- worth individuals. His friend, Gribbin, recently incorporated a private business and invited Joseph to be on its board of directors. Gribbin's business is in the paper industry and does not directly or indirectly affect Aakanksha's client base. Joseph accepted the board membership with the understanding that he would participate in Gribbin's business only over the weekends. He considered this a private venture and did not inform Aakanksha's Compliance officer. In not doing so, Joseph has<\/div><input type='hidden' name='question_id[]' id='qID_64' value='147792' \/><input type='hidden' id='answerType147792' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147792[]' id='answer-id-602250' class='answer   answerof-147792 ' value='602250'   \/><label for='answer-id-602250' id='answer-label-602250' class=' answer'><span>violated Standard III (C) - Disclosure of Conflicts to Employer.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147792[]' id='answer-id-602251' class='answer   answerof-147792 ' value='602251'   \/><label for='answer-id-602251' id='answer-label-602251' class=' answer'><span>not violated any standards since there is no conflicts of interest between his two professional obligations.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147792[]' id='answer-id-602252' class='answer   answerof-147792 ' value='602252'   \/><label for='answer-id-602252' id='answer-label-602252' class=' answer'><span>violated Standard IV (<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147792[]' id='answer-id-602253' class='answer   answerof-147792 ' value='602253'   \/><label for='answer-id-602253' id='answer-label-602253' class=' answer'><span>3) - Independence and Objectivity.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147792[]' id='answer-id-602254' class='answer   answerof-147792 ' value='602254'   \/><label for='answer-id-602254' id='answer-label-602254' class=' answer'><span>violated Standard IV (<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147792[]' id='answer-id-602255' class='answer   answerof-147792 ' value='602255'   \/><label for='answer-id-602255' id='answer-label-602255' class=' answer'><span>1) - Fiduciary Duties.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-65' style=';'><div id='questionWrap-65'  class='   watupro-question-id-147793'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>65. <\/span>Which of the following is\/are required by AIMR- PPS with regards to calculation of returns? <br \/>\r<br>I. Total return - realized and unrealized gains plus income - should be used. <br \/>\r<br>II. Returns must be based on arithmetic mean calculations. <br \/>\r<br>III. Accrual accounting must be used for fixed- income securities.<\/div><input type='hidden' name='question_id[]' id='qID_65' value='147793' \/><input type='hidden' id='answerType147793' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147793[]' id='answer-id-602256' class='answer   answerof-147793 ' value='602256'   \/><label for='answer-id-602256' id='answer-label-602256' class=' answer'><span>I, II and III<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147793[]' id='answer-id-602257' class='answer   answerof-147793 ' value='602257'   \/><label for='answer-id-602257' id='answer-label-602257' class=' answer'><span>I only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147793[]' id='answer-id-602258' class='answer   answerof-147793 ' value='602258'   \/><label for='answer-id-602258' id='answer-label-602258' class=' answer'><span>I and III only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147793[]' id='answer-id-602259' class='answer   answerof-147793 ' value='602259'   \/><label for='answer-id-602259' id='answer-label-602259' class=' answer'><span>II and III only<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-66' style=';'><div id='questionWrap-66'  class='   watupro-question-id-147794'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>66. <\/span>What is the effective date for compliance with the AIMR- PPS for U.S. and Canadian investments?<\/div><input type='hidden' name='question_id[]' id='qID_66' value='147794' \/><input type='hidden' id='answerType147794' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147794[]' id='answer-id-602260' class='answer   answerof-147794 ' value='602260'   \/><label for='answer-id-602260' id='answer-label-602260' class=' answer'><span>January 1, 1995<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147794[]' id='answer-id-602261' class='answer   answerof-147794 ' value='602261'   \/><label for='answer-id-602261' id='answer-label-602261' class=' answer'><span>January 1, 1992<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147794[]' id='answer-id-602262' class='answer   answerof-147794 ' value='602262'   \/><label for='answer-id-602262' id='answer-label-602262' class=' answer'><span>January 1, 1993<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147794[]' id='answer-id-602263' class='answer   answerof-147794 ' value='602263'   \/><label for='answer-id-602263' id='answer-label-602263' class=' answer'><span>January 1, 1994<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-67' style=';'><div id='questionWrap-67'  class='   watupro-question-id-147795'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>67. <\/span>Standard II (C) - Prohibition against Plagiarism - addresses all of the following forms of communication, except:<\/div><input type='hidden' name='question_id[]' id='qID_67' value='147795' \/><input type='hidden' id='answerType147795' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147795[]' id='answer-id-602264' class='answer   answerof-147795 ' value='602264'   \/><label for='answer-id-602264' id='answer-label-602264' class=' answer'><span>internet communications<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147795[]' id='answer-id-602265' class='answer   answerof-147795 ' value='602265'   \/><label for='answer-id-602265' id='answer-label-602265' class=' answer'><span>oral presentations<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147795[]' id='answer-id-602266' class='answer   answerof-147795 ' value='602266'   \/><label for='answer-id-602266' id='answer-label-602266' class=' answer'><span>electronic data transfer<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147795[]' id='answer-id-602267' class='answer   answerof-147795 ' value='602267'   \/><label for='answer-id-602267' id='answer-label-602267' class=' answer'><span>written presentations<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147795[]' id='answer-id-602268' class='answer   answerof-147795 ' value='602268'   \/><label for='answer-id-602268' id='answer-label-602268' class=' answer'><span>audio\/visual presentations<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147795[]' id='answer-id-602269' class='answer   answerof-147795 ' value='602269'   \/><label for='answer-id-602269' id='answer-label-602269' class=' answer'><span>none of these answers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147795[]' id='answer-id-602270' class='answer   answerof-147795 ' value='602270'   \/><label for='answer-id-602270' id='answer-label-602270' class=' answer'><span>group meetings<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-68' style=';'><div id='questionWrap-68'  class='   watupro-question-id-147796'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>68. <\/span>Sterling Drachma is a senior investment consultant currently researching a few high- risk internet stock companies which recently started trading on NASDAQ. Sterling manages 5 large and private investment accounts for which he has discretionary investment authority. Sterling is about 3 years away from retirement and his retirement portfolio is managed by Franc Escudo. Sterling has concluded from his research that two of the internet stocks he has been following are great buys and instructs Franc to divert part of the retirement investments into these stocks. Franc executes the orders as soon as he receives them. Sterling then instructs his brokers to buy the stocks for the two discretionary accounts that he knows are inclined toward high- risk investments. He does not buy any for the remaining three accounts since those are income- oriented, low- risk accounts. <br \/>\r<br>In this sequence of events, which of the following is\/are true? <br \/>\r<br>I. Franc has violated Standard IV (B.1) - Fiduciary Duties - by investing retirement account funds in the high- risk stocks. <br \/>\r<br>II. Sterling has violated Standard IV (B.3) - Fair Dealing - by not treating all his accounts equally. <br \/>\r<br>III. Sterling has violated Standard IV (B.4) - Priority of Transactions - by trading for his retirement account before trading for his client accounts.<\/div><input type='hidden' name='question_id[]' id='qID_68' value='147796' \/><input type='hidden' id='answerType147796' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147796[]' id='answer-id-602271' class='answer   answerof-147796 ' value='602271'   \/><label for='answer-id-602271' id='answer-label-602271' class=' answer'><span>I, II and III<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147796[]' id='answer-id-602272' class='answer   answerof-147796 ' value='602272'   \/><label for='answer-id-602272' id='answer-label-602272' class=' answer'><span>I and III only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147796[]' id='answer-id-602273' class='answer   answerof-147796 ' value='602273'   \/><label for='answer-id-602273' id='answer-label-602273' class=' answer'><span>II and III only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147796[]' id='answer-id-602274' class='answer   answerof-147796 ' value='602274'   \/><label for='answer-id-602274' id='answer-label-602274' class=' answer'><span>III only<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-69' style=';'><div id='questionWrap-69'  class='   watupro-question-id-147797'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>69. <\/span>Jorgenson is a senior bond analyst with Morgan Co., a large investment banking firm. Over the past quarter, Morgan's corporate bond department has been betting on the credit spreads in the market narrowing and in anticipation, has invested a large amount of capital in the bonds of two firms, High Tech and Amerizone.com. Unfortunately, the credit spreads have not displayed much activity and as the quarter end is approaching, the department wants to unload the bonds. For this, it puts pressure on Jorgenson to push the bonds on some of his larger clients. Jorgenson believes that both the bonds are good investments since High tech and Amerizone have been doing very well and their prospects look rosy. So he goes ahead and convinces his clients to purchase as much as a third of Morgan's bond holdings in these companies. Morgan has<\/div><input type='hidden' name='question_id[]' id='qID_69' value='147797' \/><input type='hidden' id='answerType147797' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147797[]' id='answer-id-602275' class='answer   answerof-147797 ' value='602275'   \/><label for='answer-id-602275' id='answer-label-602275' class=' answer'><span>not violated the AIMR code of ethics.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147797[]' id='answer-id-602276' class='answer   answerof-147797 ' value='602276'   \/><label for='answer-id-602276' id='answer-label-602276' class=' answer'><span>violated Standard IV (<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147797[]' id='answer-id-602277' class='answer   answerof-147797 ' value='602277'   \/><label for='answer-id-602277' id='answer-label-602277' class=' answer'><span>1) - Reasonable Basis and Representations.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147797[]' id='answer-id-602278' class='answer   answerof-147797 ' value='602278'   \/><label for='answer-id-602278' id='answer-label-602278' class=' answer'><span>violated Standard IV (<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147797[]' id='answer-id-602279' class='answer   answerof-147797 ' value='602279'   \/><label for='answer-id-602279' id='answer-label-602279' class=' answer'><span>7) - Disclosure of conflicts to Clients and Prospects.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147797[]' id='answer-id-602280' class='answer   answerof-147797 ' value='602280'   \/><label for='answer-id-602280' id='answer-label-602280' class=' answer'><span>violated Standard IV (<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147797[]' id='answer-id-602281' class='answer   answerof-147797 ' value='602281'   \/><label for='answer-id-602281' id='answer-label-602281' class=' answer'><span>3) - Independence and Objectivity.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-70' style=';'><div id='questionWrap-70'  class='   watupro-question-id-147798'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>70. <\/span>Emmy Noether is a senior division manager at Harding &amp; Harding, a money management firm. Emmy is quite fastidious about following the rules of the investment industry and has established specific procedures and guidelines designed to prevent any violations. Recently, it surfaced that one of the employees reporting to Emmy, William Bathwater, had been secretly using inside information on a computer maker to generate profits in his portfolio. William had been extremely clever at hiding these profits and only a serendipitous audit by the Compliance Department revealed the pattern. <br \/>\r<br>Emmy, in her capacity as William's supervisor, has:<\/div><input type='hidden' name='question_id[]' id='qID_70' value='147798' \/><input type='hidden' id='answerType147798' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147798[]' id='answer-id-602282' class='answer   answerof-147798 ' value='602282'   \/><label for='answer-id-602282' id='answer-label-602282' class=' answer'><span>has not violated any standard in the AIMR code of ethics.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147798[]' id='answer-id-602283' class='answer   answerof-147798 ' value='602283'   \/><label for='answer-id-602283' id='answer-label-602283' class=' answer'><span>none of these answers.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147798[]' id='answer-id-602284' class='answer   answerof-147798 ' value='602284'   \/><label for='answer-id-602284' id='answer-label-602284' class=' answer'><span>violated Standard III (E) - Responsibilities of Supervisors - by failing to check William's behavior.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147798[]' id='answer-id-602285' class='answer   answerof-147798 ' value='602285'   \/><label for='answer-id-602285' id='answer-label-602285' class=' answer'><span>violated Standard III (B) - Duty to the Employer - by failing to check William's behavior.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-71' style=';'><div id='questionWrap-71'  class='   watupro-question-id-147799'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>71. <\/span>NL is a country with no securities laws. LS is a country that has securities laws that are less strict than the AIMR code of ethics while MS has securities laws that are stricter than the code of ethics. <br \/>\r<br>Which of the following is\/are true? <br \/>\r<br>I. A member who lives in NL must always follow the AIMR code. <br \/>\r<br>II. A member who lives in MS is governed by the AIMR code. <br \/>\r<br>III. A member lives in NL but does business in MS. If MS laws apply to her business transactions, she must follow the AIMR code. <br \/>\r<br>IV. A member lives in LS and does business in NL. He must always follow the AIMR code.<\/div><input type='hidden' name='question_id[]' id='qID_71' value='147799' \/><input type='hidden' id='answerType147799' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147799[]' id='answer-id-602286' class='answer   answerof-147799 ' value='602286'   \/><label for='answer-id-602286' id='answer-label-602286' class=' answer'><span>II and IV only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147799[]' id='answer-id-602287' class='answer   answerof-147799 ' value='602287'   \/><label for='answer-id-602287' id='answer-label-602287' class=' answer'><span>I and IV only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147799[]' id='answer-id-602288' class='answer   answerof-147799 ' value='602288'   \/><label for='answer-id-602288' id='answer-label-602288' class=' answer'><span>I, II, III and IV<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147799[]' id='answer-id-602289' class='answer   answerof-147799 ' value='602289'   \/><label for='answer-id-602289' id='answer-label-602289' class=' answer'><span>II and III only<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-72' style=';'><div id='questionWrap-72'  class='   watupro-question-id-147800'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>72. <\/span>Because it is not the preferred method recommended by the PPS, the use of ________ valuation needs to be disclosed.<\/div><input type='hidden' name='question_id[]' id='qID_72' value='147800' \/><input type='hidden' id='answerType147800' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147800[]' id='answer-id-602290' class='answer   answerof-147800 ' value='602290'   \/><label for='answer-id-602290' id='answer-label-602290' class=' answer'><span>new- date<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147800[]' id='answer-id-602291' class='answer   answerof-147800 ' value='602291'   \/><label for='answer-id-602291' id='answer-label-602291' class=' answer'><span>settlement- date<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147800[]' id='answer-id-602292' class='answer   answerof-147800 ' value='602292'   \/><label for='answer-id-602292' id='answer-label-602292' class=' answer'><span>trade- date<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147800[]' id='answer-id-602293' class='answer   answerof-147800 ' value='602293'   \/><label for='answer-id-602293' id='answer-label-602293' class=' answer'><span>old- date<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147800[]' id='answer-id-602294' class='answer   answerof-147800 ' value='602294'   \/><label for='answer-id-602294' id='answer-label-602294' class=' answer'><span>survivor- date<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-73' style=';'><div id='questionWrap-73'  class='   watupro-question-id-147801'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>73. <\/span>A critical part of Standard IV (A.2) is to distinguish between:<\/div><input type='hidden' name='question_id[]' id='qID_73' value='147801' \/><input type='hidden' id='answerType147801' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147801[]' id='answer-id-602295' class='answer   answerof-147801 ' value='602295'   \/><label for='answer-id-602295' id='answer-label-602295' class=' answer'><span>research reports and investment memoranda.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147801[]' id='answer-id-602296' class='answer   answerof-147801 ' value='602296'   \/><label for='answer-id-602296' id='answer-label-602296' class=' answer'><span>insider trading and appropriate trading.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147801[]' id='answer-id-602297' class='answer   answerof-147801 ' value='602297'   \/><label for='answer-id-602297' id='answer-label-602297' class=' answer'><span>CFA charterholders and non- CFA charterholders.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147801[]' id='answer-id-602298' class='answer   answerof-147801 ' value='602298'   \/><label for='answer-id-602298' id='answer-label-602298' class=' answer'><span>none of these answers.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147801[]' id='answer-id-602299' class='answer   answerof-147801 ' value='602299'   \/><label for='answer-id-602299' id='answer-label-602299' class=' answer'><span>employees and independent contractors.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147801[]' id='answer-id-602300' class='answer   answerof-147801 ' value='602300'   \/><label for='answer-id-602300' id='answer-label-602300' class=' answer'><span>industry and company analysis.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147801[]' id='answer-id-602301' class='answer   answerof-147801 ' value='602301'   \/><label for='answer-id-602301' id='answer-label-602301' class=' answer'><span>the buy side and the sell side.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147801[]' id='answer-id-602302' class='answer   answerof-147801 ' value='602302'   \/><label for='answer-id-602302' id='answer-label-602302' class=' answer'><span>facts and opinions.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-74' style=';'><div id='questionWrap-74'  class='   watupro-question-id-147802'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>74. <\/span>When a manager is responsible for the portfolios of pension plans or trusts, the duty of loyalty is owed to the ________.<\/div><input type='hidden' name='question_id[]' id='qID_74' value='147802' \/><input type='hidden' id='answerType147802' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147802[]' id='answer-id-602303' class='answer   answerof-147802 ' value='602303'   \/><label for='answer-id-602303' id='answer-label-602303' class=' answer'><span>beneficiaries<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147802[]' id='answer-id-602304' class='answer   answerof-147802 ' value='602304'   \/><label for='answer-id-602304' id='answer-label-602304' class=' answer'><span>none of these answers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147802[]' id='answer-id-602305' class='answer   answerof-147802 ' value='602305'   \/><label for='answer-id-602305' id='answer-label-602305' class=' answer'><span>stockholders of the firm<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147802[]' id='answer-id-602306' class='answer   answerof-147802 ' value='602306'   \/><label for='answer-id-602306' id='answer-label-602306' class=' answer'><span>investing public<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147802[]' id='answer-id-602307' class='answer   answerof-147802 ' value='602307'   \/><label for='answer-id-602307' id='answer-label-602307' class=' answer'><span>entity who hires the manager<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147802[]' id='answer-id-602308' class='answer   answerof-147802 ' value='602308'   \/><label for='answer-id-602308' id='answer-label-602308' class=' answer'><span>corporation<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147802[]' id='answer-id-602309' class='answer   answerof-147802 ' value='602309'   \/><label for='answer-id-602309' id='answer-label-602309' class=' answer'><span>board of directors<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147802[]' id='answer-id-602310' class='answer   answerof-147802 ' value='602310'   \/><label for='answer-id-602310' id='answer-label-602310' class=' answer'><span>manager's supervisor(s)<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-75' style=';'><div id='questionWrap-75'  class='   watupro-question-id-147803'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>75. <\/span>Brokers who knowingly or recklessly engage in excessive trading in customers' accounts are known to be ________.<\/div><input type='hidden' name='question_id[]' id='qID_75' value='147803' \/><input type='hidden' id='answerType147803' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147803[]' id='answer-id-602311' class='answer   answerof-147803 ' value='602311'   \/><label for='answer-id-602311' id='answer-label-602311' class=' answer'><span>over- selling<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147803[]' id='answer-id-602312' class='answer   answerof-147803 ' value='602312'   \/><label for='answer-id-602312' id='answer-label-602312' class=' answer'><span>mixing<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147803[]' id='answer-id-602313' class='answer   answerof-147803 ' value='602313'   \/><label for='answer-id-602313' id='answer-label-602313' class=' answer'><span>churning<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147803[]' id='answer-id-602314' class='answer   answerof-147803 ' value='602314'   \/><label for='answer-id-602314' id='answer-label-602314' class=' answer'><span>none of these answers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147803[]' id='answer-id-602315' class='answer   answerof-147803 ' value='602315'   \/><label for='answer-id-602315' id='answer-label-602315' class=' answer'><span>shingling<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-76' style=';'><div id='questionWrap-76'  class='   watupro-question-id-147804'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>76. <\/span>According to the AIMR- PPS, systems incompatibilities<\/div><input type='hidden' name='question_id[]' id='qID_76' value='147804' \/><input type='hidden' id='answerType147804' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147804[]' id='answer-id-602316' class='answer   answerof-147804 ' value='602316'   \/><label for='answer-id-602316' id='answer-label-602316' class=' answer'><span>causes distortion of performance presentation and needs to be disclosed.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147804[]' id='answer-id-602317' class='answer   answerof-147804 ' value='602317'   \/><label for='answer-id-602317' id='answer-label-602317' class=' answer'><span>are one reason for which a firm may not claim compliance for all assets.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147804[]' id='answer-id-602318' class='answer   answerof-147804 ' value='602318'   \/><label for='answer-id-602318' id='answer-label-602318' class=' answer'><span>cannot be used as a reason for not claiming compliance for all assets.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147804[]' id='answer-id-602319' class='answer   answerof-147804 ' value='602319'   \/><label for='answer-id-602319' id='answer-label-602319' class=' answer'><span>render a firm unable to claim compliance with the PPS, thus the firm should ensure compatibility.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-77' style=';'><div id='questionWrap-77'  class='   watupro-question-id-147805'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>77. <\/span>Argus is a large- accounts money manager with a high- profile hedge fund. He manages all his accounts in a very efficient manner and all his clients are satisfied with his performance. Argus has one character flaw, though. He is given to making sexually inappropriate comments in mixed company, touching female employees in inappropriate ways and cracking adult jokes loudly. This makes many of the other employees uncomfortable in his presence. Argus<\/div><input type='hidden' name='question_id[]' id='qID_77' value='147805' \/><input type='hidden' id='answerType147805' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147805[]' id='answer-id-602320' class='answer   answerof-147805 ' value='602320'   \/><label for='answer-id-602320' id='answer-label-602320' class=' answer'><span>none of these answers.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147805[]' id='answer-id-602321' class='answer   answerof-147805 ' value='602321'   \/><label for='answer-id-602321' id='answer-label-602321' class=' answer'><span>has violated AIMR standard on professional incompetence.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147805[]' id='answer-id-602322' class='answer   answerof-147805 ' value='602322'   \/><label for='answer-id-602322' id='answer-label-602322' class=' answer'><span>has violated AIMR standard on professional conduct.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147805[]' id='answer-id-602323' class='answer   answerof-147805 ' value='602323'   \/><label for='answer-id-602323' id='answer-label-602323' class=' answer'><span>has not violated any AIMR standard since he has kept his clients satisfied and the professional misbehavior is an internal matter to be handled by his superiors.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-78' style=';'><div id='questionWrap-78'  class='   watupro-question-id-147806'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>78. <\/span>When dealing with charitable organizations, the fiduciary must consider all of the following, except:<\/div><input type='hidden' name='question_id[]' id='qID_78' value='147806' \/><input type='hidden' id='answerType147806' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147806[]' id='answer-id-602324' class='answer   answerof-147806 ' value='602324'   \/><label for='answer-id-602324' id='answer-label-602324' class=' answer'><span>general economic conditions.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147806[]' id='answer-id-602325' class='answer   answerof-147806 ' value='602325'   \/><label for='answer-id-602325' id='answer-label-602325' class=' answer'><span>the charity's present and anticipated financial requirements.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147806[]' id='answer-id-602326' class='answer   answerof-147806 ' value='602326'   \/><label for='answer-id-602326' id='answer-label-602326' class=' answer'><span>investigation of supervisory activities once violation is known to have occurred.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147806[]' id='answer-id-602327' class='answer   answerof-147806 ' value='602327'   \/><label for='answer-id-602327' id='answer-label-602327' class=' answer'><span>long and short- term institutional needs in carrying out the charitable purpose.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147806[]' id='answer-id-602328' class='answer   answerof-147806 ' value='602328'   \/><label for='answer-id-602328' id='answer-label-602328' class=' answer'><span>expected total return on its investments.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147806[]' id='answer-id-602329' class='answer   answerof-147806 ' value='602329'   \/><label for='answer-id-602329' id='answer-label-602329' class=' answer'><span>trends in security price levels.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-79' style=';'><div id='questionWrap-79'  class='   watupro-question-id-147807'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>79. <\/span>According to the Prudent Investor Rule, the trustee must: <br \/>\r<br>- adhere to loyalty, impartiality and ________ <br \/>\r<br>- maintain overall portfolio risk at a reasonable level <br \/>\r<br>- provide for reasonable diversification of trust investments <br \/>\r<br>- act with prudence in deciding whether and how to delegate authority to experts and in selecting and supervising agents <br \/>\r<br>- be cost conscious when investing<\/div><input type='hidden' name='question_id[]' id='qID_79' value='147807' \/><input type='hidden' id='answerType147807' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147807[]' id='answer-id-602330' class='answer   answerof-147807 ' value='602330'   \/><label for='answer-id-602330' id='answer-label-602330' class=' answer'><span>commitment<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147807[]' id='answer-id-602331' class='answer   answerof-147807 ' value='602331'   \/><label for='answer-id-602331' id='answer-label-602331' class=' answer'><span>none of these answers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147807[]' id='answer-id-602332' class='answer   answerof-147807 ' value='602332'   \/><label for='answer-id-602332' id='answer-label-602332' class=' answer'><span>prudence<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147807[]' id='answer-id-602333' class='answer   answerof-147807 ' value='602333'   \/><label for='answer-id-602333' id='answer-label-602333' class=' answer'><span>diversification<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147807[]' id='answer-id-602334' class='answer   answerof-147807 ' value='602334'   \/><label for='answer-id-602334' id='answer-label-602334' class=' answer'><span>supervisors<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-80' style=';'><div id='questionWrap-80'  class='   watupro-question-id-147808'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>80. <\/span>Standard III includes which of the following?<\/div><input type='hidden' name='question_id[]' id='qID_80' value='147808' \/><input type='hidden' id='answerType147808' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147808[]' id='answer-id-602335' class='answer   answerof-147808 ' value='602335'   \/><label for='answer-id-602335' id='answer-label-602335' class=' answer'><span>Reasonable Basis and Representations<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147808[]' id='answer-id-602336' class='answer   answerof-147808 ' value='602336'   \/><label for='answer-id-602336' id='answer-label-602336' class=' answer'><span>Preservation of Confidentiality<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147808[]' id='answer-id-602337' class='answer   answerof-147808 ' value='602337'   \/><label for='answer-id-602337' id='answer-label-602337' class=' answer'><span>All of these answers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147808[]' id='answer-id-602338' class='answer   answerof-147808 ' value='602338'   \/><label for='answer-id-602338' id='answer-label-602338' class=' answer'><span>Performance Presentation<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147808[]' id='answer-id-602339' class='answer   answerof-147808 ' value='602339'   \/><label for='answer-id-602339' id='answer-label-602339' class=' answer'><span>Use of Professional Designation<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147808[]' id='answer-id-602340' class='answer   answerof-147808 ' value='602340'   \/><label for='answer-id-602340' id='answer-label-602340' class=' answer'><span>None of these answers<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-81' style=';'><div id='questionWrap-81'  class='   watupro-question-id-147809'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>81. <\/span>The Prudent Man Rule states that the trustee must achieve an equitable balance between current income and the ________ of principal in ________.<\/div><input type='hidden' name='question_id[]' id='qID_81' value='147809' \/><input type='hidden' id='answerType147809' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147809[]' id='answer-id-602341' class='answer   answerof-147809 ' value='602341'   \/><label for='answer-id-602341' id='answer-label-602341' class=' answer'><span>prudent management; in money markets<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147809[]' id='answer-id-602342' class='answer   answerof-147809 ' value='602342'   \/><label for='answer-id-602342' id='answer-label-602342' class=' answer'><span>preservation; real terms<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147809[]' id='answer-id-602343' class='answer   answerof-147809 ' value='602343'   \/><label for='answer-id-602343' id='answer-label-602343' class=' answer'><span>steady growth; nominal terms<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147809[]' id='answer-id-602344' class='answer   answerof-147809 ' value='602344'   \/><label for='answer-id-602344' id='answer-label-602344' class=' answer'><span>preservation; nominal terms<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147809[]' id='answer-id-602345' class='answer   answerof-147809 ' value='602345'   \/><label for='answer-id-602345' id='answer-label-602345' class=' answer'><span>prudent management; in fixed- income securities<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147809[]' id='answer-id-602346' class='answer   answerof-147809 ' value='602346'   \/><label for='answer-id-602346' id='answer-label-602346' class=' answer'><span>steady growth; real terms<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-82' style=';'><div id='questionWrap-82'  class='   watupro-question-id-147810'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>82. <\/span>Standard IV (B.5), Preservation of Confidentiality states:<\/div><input type='hidden' name='question_id[]' id='qID_82' value='147810' \/><input type='hidden' id='answerType147810' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147810[]' id='answer-id-602347' class='answer   answerof-147810 ' value='602347'   \/><label for='answer-id-602347' id='answer-label-602347' class=' answer'><span>all of these answers.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147810[]' id='answer-id-602348' class='answer   answerof-147810 ' value='602348'   \/><label for='answer-id-602348' id='answer-label-602348' class=' answer'><span>none of these answers.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147810[]' id='answer-id-602349' class='answer   answerof-147810 ' value='602349'   \/><label for='answer-id-602349' id='answer-label-602349' class=' answer'><span>members must release information to AIMR when the Professional Conduct Program is holding an investigation, unless there is a settlement agreement between the parties that stipulates confidentiality.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147810[]' id='answer-id-602350' class='answer   answerof-147810 ' value='602350'   \/><label for='answer-id-602350' id='answer-label-602350' class=' answer'><span>if the information is confidential, even illegal activity may not be reported, because there is the issue of trust between parties.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147810[]' id='answer-id-602351' class='answer   answerof-147810 ' value='602351'   \/><label for='answer-id-602351' id='answer-label-602351' class=' answer'><span>members should avoid disclosing any information received from a client except to authorized fellow employees who are also working for the client.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-83' style=';'><div id='questionWrap-83'  class='   watupro-question-id-147811'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>83. <\/span>Since return results must be calculated on a basis that includes the effect of leverage, return results must be restated to a(n) ________ basis.<\/div><input type='hidden' name='question_id[]' id='qID_83' value='147811' \/><input type='hidden' id='answerType147811' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147811[]' id='answer-id-602352' class='answer   answerof-147811 ' value='602352'   \/><label for='answer-id-602352' id='answer-label-602352' class=' answer'><span>margin<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147811[]' id='answer-id-602353' class='answer   answerof-147811 ' value='602353'   \/><label for='answer-id-602353' id='answer-label-602353' class=' answer'><span>total asset<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147811[]' id='answer-id-602354' class='answer   answerof-147811 ' value='602354'   \/><label for='answer-id-602354' id='answer-label-602354' class=' answer'><span>cash flow<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147811[]' id='answer-id-602355' class='answer   answerof-147811 ' value='602355'   \/><label for='answer-id-602355' id='answer-label-602355' class=' answer'><span>all cash<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147811[]' id='answer-id-602356' class='answer   answerof-147811 ' value='602356'   \/><label for='answer-id-602356' id='answer-label-602356' class=' answer'><span>multiple cash<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-84' style=';'><div id='questionWrap-84'  class='   watupro-question-id-147812'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>84. <\/span>Standard II (A) deals with ________.<\/div><input type='hidden' name='question_id[]' id='qID_84' value='147812' \/><input type='hidden' id='answerType147812' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147812[]' id='answer-id-602357' class='answer   answerof-147812 ' value='602357'   \/><label for='answer-id-602357' id='answer-label-602357' class=' answer'><span>Obligation to Inform Employer of Code and Standards<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147812[]' id='answer-id-602358' class='answer   answerof-147812 ' value='602358'   \/><label for='answer-id-602358' id='answer-label-602358' class=' answer'><span>None of these answers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147812[]' id='answer-id-602359' class='answer   answerof-147812 ' value='602359'   \/><label for='answer-id-602359' id='answer-label-602359' class=' answer'><span>Professional Misconduct<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147812[]' id='answer-id-602360' class='answer   answerof-147812 ' value='602360'   \/><label for='answer-id-602360' id='answer-label-602360' class=' answer'><span>Plagiarism<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147812[]' id='answer-id-602361' class='answer   answerof-147812 ' value='602361'   \/><label for='answer-id-602361' id='answer-label-602361' class=' answer'><span>Use of Professional Designation<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147812[]' id='answer-id-602362' class='answer   answerof-147812 ' value='602362'   \/><label for='answer-id-602362' id='answer-label-602362' class=' answer'><span>Duty to Employer<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147812[]' id='answer-id-602363' class='answer   answerof-147812 ' value='602363'   \/><label for='answer-id-602363' id='answer-label-602363' class=' answer'><span>Disclosure of Conflicts to Employer<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147812[]' id='answer-id-602364' class='answer   answerof-147812 ' value='602364'   \/><label for='answer-id-602364' id='answer-label-602364' class=' answer'><span>Fundamental Responsibilities<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-85' style=';'><div id='questionWrap-85'  class='   watupro-question-id-147813'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>85. <\/span>Which of the following is\/are true about the PPS? <br \/>\r<br>I. Accounts of clients that are not currently under the firm's management should not be included in the presentation of the historical performance results. <br \/>\r<br>II. Compliance with PPS cannot be met on a composite- by- composite basis, only on a firm- wide basis. <br \/>\r<br>III. The PPS require that firms report, at a minimum, at least the most recent 5 years (or since inception, if less than 5 years) of performance results.<\/div><input type='hidden' name='question_id[]' id='qID_85' value='147813' \/><input type='hidden' id='answerType147813' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147813[]' id='answer-id-602365' class='answer   answerof-147813 ' value='602365'   \/><label for='answer-id-602365' id='answer-label-602365' class=' answer'><span>III only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147813[]' id='answer-id-602366' class='answer   answerof-147813 ' value='602366'   \/><label for='answer-id-602366' id='answer-label-602366' class=' answer'><span>I only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147813[]' id='answer-id-602367' class='answer   answerof-147813 ' value='602367'   \/><label for='answer-id-602367' id='answer-label-602367' class=' answer'><span>I and III only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147813[]' id='answer-id-602368' class='answer   answerof-147813 ' value='602368'   \/><label for='answer-id-602368' id='answer-label-602368' class=' answer'><span>II only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147813[]' id='answer-id-602369' class='answer   answerof-147813 ' value='602369'   \/><label for='answer-id-602369' id='answer-label-602369' class=' answer'><span>I, II and III<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147813[]' id='answer-id-602370' class='answer   answerof-147813 ' value='602370'   \/><label for='answer-id-602370' id='answer-label-602370' class=' answer'><span>I and II only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147813[]' id='answer-id-602371' class='answer   answerof-147813 ' value='602371'   \/><label for='answer-id-602371' id='answer-label-602371' class=' answer'><span>II and III only<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-86' style=';'><div id='questionWrap-86'  class='   watupro-question-id-147814'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>86. <\/span>Which of the following can be found in Standard III?<\/div><input type='hidden' name='question_id[]' id='qID_86' value='147814' \/><input type='hidden' id='answerType147814' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147814[]' id='answer-id-602372' class='answer   answerof-147814 ' value='602372'   \/><label for='answer-id-602372' id='answer-label-602372' class=' answer'><span>Members must use the CFA designation in a dignified manner.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147814[]' id='answer-id-602373' class='answer   answerof-147814 ' value='602373'   \/><label for='answer-id-602373' id='answer-label-602373' class=' answer'><span>If members receive material nonpublic information in confidence, they shall not breach that confidence by trading or causing others to trade in securities to which such information relates.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147814[]' id='answer-id-602374' class='answer   answerof-147814 ' value='602374'   \/><label for='answer-id-602374' id='answer-label-602374' class=' answer'><span>Members shall maintain knowledge of AIMR's Code of Ethics.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147814[]' id='answer-id-602375' class='answer   answerof-147814 ' value='602375'   \/><label for='answer-id-602375' id='answer-label-602375' class=' answer'><span>Members shall comply with any prohibitions on activities imposed by their employer if a conflict of interest exists.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147814[]' id='answer-id-602376' class='answer   answerof-147814 ' value='602376'   \/><label for='answer-id-602376' id='answer-label-602376' class=' answer'><span>Members shall make reasonable and diligent efforts to avoid any material misrepresentation in any research report or investment recommendation.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-87' style=';'><div id='questionWrap-87'  class='   watupro-question-id-147815'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>87. <\/span>Which of the following can be found in Standard II?<\/div><input type='hidden' name='question_id[]' id='qID_87' value='147815' \/><input type='hidden' id='answerType147815' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147815[]' id='answer-id-602377' class='answer   answerof-147815 ' value='602377'   \/><label for='answer-id-602377' id='answer-label-602377' class=' answer'><span>Members shall make reasonable and diligent efforts to avoid any material misrepresentation in any research report or investment recommendation.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147815[]' id='answer-id-602378' class='answer   answerof-147815 ' value='602378'   \/><label for='answer-id-602378' id='answer-label-602378' class=' answer'><span>Members must use the CFA designation in a dignified manner.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147815[]' id='answer-id-602379' class='answer   answerof-147815 ' value='602379'   \/><label for='answer-id-602379' id='answer-label-602379' class=' answer'><span>Members shall comply with any prohibitions on activities imposed by their employer if a conflict of interest exists.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147815[]' id='answer-id-602380' class='answer   answerof-147815 ' value='602380'   \/><label for='answer-id-602380' id='answer-label-602380' class=' answer'><span>Members shall maintain knowledge of AIMR's Code of Ethics.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147815[]' id='answer-id-602381' class='answer   answerof-147815 ' value='602381'   \/><label for='answer-id-602381' id='answer-label-602381' class=' answer'><span>If members receive material nonpublic information in confidence, they shall not breach that confidence by trading or causing others to trade in securities to which such information relates.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-88' style=';'><div id='questionWrap-88'  class='   watupro-question-id-147816'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>88. <\/span>Which of the following is\/are forms of plagiarism as defined by AIMR code of conduct? <br \/>\r<br>I. Using material from a seminar in research reports without proper acknowledgment. <br \/>\r<br>II. Presenting statistical estimates prepared by others without the associated caveats and qualifiers. <br \/>\r<br>III. Using of information obtained in a teleconference without identifying the original source. <br \/>\r<br>IV. Using Standard &amp; Poor's estimates of stock betas without attribution.<\/div><input type='hidden' name='question_id[]' id='qID_88' value='147816' \/><input type='hidden' id='answerType147816' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147816[]' id='answer-id-602382' class='answer   answerof-147816 ' value='602382'   \/><label for='answer-id-602382' id='answer-label-602382' class=' answer'><span>I, II and IV only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147816[]' id='answer-id-602383' class='answer   answerof-147816 ' value='602383'   \/><label for='answer-id-602383' id='answer-label-602383' class=' answer'><span>I, II and III only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147816[]' id='answer-id-602384' class='answer   answerof-147816 ' value='602384'   \/><label for='answer-id-602384' id='answer-label-602384' class=' answer'><span>II, III and IV only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147816[]' id='answer-id-602385' class='answer   answerof-147816 ' value='602385'   \/><label for='answer-id-602385' id='answer-label-602385' class=' answer'><span>II and III only<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-89' style=';'><div id='questionWrap-89'  class='   watupro-question-id-147817'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>89. <\/span>Which of the following AIMR standards pertains to the responsibilities of supervisors?<\/div><input type='hidden' name='question_id[]' id='qID_89' value='147817' \/><input type='hidden' id='answerType147817' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147817[]' id='answer-id-602386' class='answer   answerof-147817 ' value='602386'   \/><label for='answer-id-602386' id='answer-label-602386' class=' answer'><span>IV<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147817[]' id='answer-id-602387' class='answer   answerof-147817 ' value='602387'   \/><label for='answer-id-602387' id='answer-label-602387' class=' answer'><span>II C<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147817[]' id='answer-id-602388' class='answer   answerof-147817 ' value='602388'   \/><label for='answer-id-602388' id='answer-label-602388' class=' answer'><span>V<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147817[]' id='answer-id-602389' class='answer   answerof-147817 ' value='602389'   \/><label for='answer-id-602389' id='answer-label-602389' class=' answer'><span>None of these answers<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-90' style=';'><div id='questionWrap-90'  class='   watupro-question-id-147818'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>90. <\/span>Firms with records or performance calculations for periods prior to the applicable effective date(s) that are not in conformance with the AIMR Performance Presentation Standards can still claim compliance with the standards if certain conditions are met. <br \/>\r<br>Which of the following is an option available to such a firm?<\/div><input type='hidden' name='question_id[]' id='qID_90' value='147818' \/><input type='hidden' id='answerType147818' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147818[]' id='answer-id-602390' class='answer   answerof-147818 ' value='602390'   \/><label for='answer-id-602390' id='answer-label-602390' class=' answer'><span>None of these answers are options available to such a firm.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147818[]' id='answer-id-602391' class='answer   answerof-147818 ' value='602391'   \/><label for='answer-id-602391' id='answer-label-602391' class=' answer'><span>All of these answers are options available to such a firm.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147818[]' id='answer-id-602392' class='answer   answerof-147818 ' value='602392'   \/><label for='answer-id-602392' id='answer-label-602392' class=' answer'><span>The firm can restate its historical performance in accordance with the Relaxed Retroactive Standards for retroactive compliance.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147818[]' id='answer-id-602393' class='answer   answerof-147818 ' value='602393'   \/><label for='answer-id-602393' id='answer-label-602393' class=' answer'><span>The firm can use its nonconforming historical performance and disclose specifically when and how the performance is not in compliance.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147818[]' id='answer-id-602394' class='answer   answerof-147818 ' value='602394'   \/><label for='answer-id-602394' id='answer-label-602394' class=' answer'><span>The firm can restate its historical performance numbers in accordance with the Standards.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-91' style=';'><div id='questionWrap-91'  class='   watupro-question-id-147819'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>91. <\/span>When formulating an investment policy for a client, all of the following fall under &quot;investor constraints,&quot; except ________.<\/div><input type='hidden' name='question_id[]' id='qID_91' value='147819' \/><input type='hidden' id='answerType147819' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147819[]' id='answer-id-602395' class='answer   answerof-147819 ' value='602395'   \/><label for='answer-id-602395' id='answer-label-602395' class=' answer'><span>liquidity needs<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147819[]' id='answer-id-602396' class='answer   answerof-147819 ' value='602396'   \/><label for='answer-id-602396' id='answer-label-602396' class=' answer'><span>regulatory and legal circumstances<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147819[]' id='answer-id-602397' class='answer   answerof-147819 ' value='602397'   \/><label for='answer-id-602397' id='answer-label-602397' class=' answer'><span>risk tolerance<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147819[]' id='answer-id-602398' class='answer   answerof-147819 ' value='602398'   \/><label for='answer-id-602398' id='answer-label-602398' class=' answer'><span>tax considerations<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147819[]' id='answer-id-602399' class='answer   answerof-147819 ' value='602399'   \/><label for='answer-id-602399' id='answer-label-602399' class=' answer'><span>expected cash flows<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147819[]' id='answer-id-602400' class='answer   answerof-147819 ' value='602400'   \/><label for='answer-id-602400' id='answer-label-602400' class=' answer'><span>investable funds<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147819[]' id='answer-id-602401' class='answer   answerof-147819 ' value='602401'   \/><label for='answer-id-602401' id='answer-label-602401' class=' answer'><span>investor preferences, circumstances and unique needs<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147819[]' id='answer-id-602402' class='answer   answerof-147819 ' value='602402'   \/><label for='answer-id-602402' id='answer-label-602402' class=' answer'><span>none of these answers<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-92' style=';'><div id='questionWrap-92'  class='   watupro-question-id-147820'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>92. <\/span>Which of the following can be found in Standard I?<\/div><input type='hidden' name='question_id[]' id='qID_92' value='147820' \/><input type='hidden' id='answerType147820' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147820[]' id='answer-id-602403' class='answer   answerof-147820 ' value='602403'   \/><label for='answer-id-602403' id='answer-label-602403' class=' answer'><span>Members shall deliver a copy of the Code to their employer.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147820[]' id='answer-id-602404' class='answer   answerof-147820 ' value='602404'   \/><label for='answer-id-602404' id='answer-label-602404' class=' answer'><span>Members shall not participate in any professional conduct involving dishonesty, fraud, deceit, etc.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147820[]' id='answer-id-602405' class='answer   answerof-147820 ' value='602405'   \/><label for='answer-id-602405' id='answer-label-602405' class=' answer'><span>Members shall not knowingly participate or assist in any violation of laws, rules or regulations.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147820[]' id='answer-id-602406' class='answer   answerof-147820 ' value='602406'   \/><label for='answer-id-602406' id='answer-label-602406' class=' answer'><span>Members shall exercise diligence and thoroughness in making investment recommendations or in taking investment actions.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147820[]' id='answer-id-602407' class='answer   answerof-147820 ' value='602407'   \/><label for='answer-id-602407' id='answer-label-602407' class=' answer'><span>Members shall not misrepresent investment performance.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-93' style=';'><div id='questionWrap-93'  class='   watupro-question-id-147821'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>93. <\/span>AIMR Standard ________ prohibits plagiarism.<\/div><input type='hidden' name='question_id[]' id='qID_93' value='147821' \/><input type='hidden' id='answerType147821' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147821[]' id='answer-id-602408' class='answer   answerof-147821 ' value='602408'   \/><label for='answer-id-602408' id='answer-label-602408' class=' answer'><span>I (D)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147821[]' id='answer-id-602409' class='answer   answerof-147821 ' value='602409'   \/><label for='answer-id-602409' id='answer-label-602409' class=' answer'><span>IV (A)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147821[]' id='answer-id-602410' class='answer   answerof-147821 ' value='602410'   \/><label for='answer-id-602410' id='answer-label-602410' class=' answer'><span>None of these answers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147821[]' id='answer-id-602411' class='answer   answerof-147821 ' value='602411'   \/><label for='answer-id-602411' id='answer-label-602411' class=' answer'><span>II (C)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147821[]' id='answer-id-602412' class='answer   answerof-147821 ' value='602412'   \/><label for='answer-id-602412' id='answer-label-602412' class=' answer'><span>III (B)<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-94' style=';'><div id='questionWrap-94'  class='   watupro-question-id-147822'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>94. <\/span>Fiduciaries are obligated to vote proxies:<\/div><input type='hidden' name='question_id[]' id='qID_94' value='147822' \/><input type='hidden' id='answerType147822' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147822[]' id='answer-id-602413' class='answer   answerof-147822 ' value='602413'   \/><label for='answer-id-602413' id='answer-label-602413' class=' answer'><span>none of these answers.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147822[]' id='answer-id-602414' class='answer   answerof-147822 ' value='602414'   \/><label for='answer-id-602414' id='answer-label-602414' class=' answer'><span>on an &quot;as needed&quot; basis, depending on the issue at hand.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147822[]' id='answer-id-602415' class='answer   answerof-147822 ' value='602415'   \/><label for='answer-id-602415' id='answer-label-602415' class=' answer'><span>only when there is a nonroutine governance issue.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147822[]' id='answer-id-602416' class='answer   answerof-147822 ' value='602416'   \/><label for='answer-id-602416' id='answer-label-602416' class=' answer'><span>only when there is a change in firm capitalization.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147822[]' id='answer-id-602417' class='answer   answerof-147822 ' value='602417'   \/><label for='answer-id-602417' id='answer-label-602417' class=' answer'><span>in an informed and responsible manner.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147822[]' id='answer-id-602418' class='answer   answerof-147822 ' value='602418'   \/><label for='answer-id-602418' id='answer-label-602418' class=' answer'><span>only when management requests the fiduciary to vote, in writing.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-95' style=';'><div id='questionWrap-95'  class='   watupro-question-id-147823'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>95. <\/span>Standard III (E) is ________.<\/div><input type='hidden' name='question_id[]' id='qID_95' value='147823' \/><input type='hidden' id='answerType147823' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147823[]' id='answer-id-602419' class='answer   answerof-147823 ' value='602419'   \/><label for='answer-id-602419' id='answer-label-602419' class=' answer'><span>Obligation to Inform Employer of Code and Standards<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147823[]' id='answer-id-602420' class='answer   answerof-147823 ' value='602420'   \/><label for='answer-id-602420' id='answer-label-602420' class=' answer'><span>Duty to Employer<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147823[]' id='answer-id-602421' class='answer   answerof-147823 ' value='602421'   \/><label for='answer-id-602421' id='answer-label-602421' class=' answer'><span>Responsibilities of Supervisors<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147823[]' id='answer-id-602422' class='answer   answerof-147823 ' value='602422'   \/><label for='answer-id-602422' id='answer-label-602422' class=' answer'><span>Disclosure of Conflicts to Employer<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147823[]' id='answer-id-602423' class='answer   answerof-147823 ' value='602423'   \/><label for='answer-id-602423' id='answer-label-602423' class=' answer'><span>None of these answers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147823[]' id='answer-id-602424' class='answer   answerof-147823 ' value='602424'   \/><label for='answer-id-602424' id='answer-label-602424' class=' answer'><span>Disclosure of Additional Compensation Arrangements<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-96' style=';'><div id='questionWrap-96'  class='   watupro-question-id-147824'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>96. <\/span>Chan and Chung are two of the five Managing Directors of Alfalfa, a mid- size hedge fund. In a recent court case involving a securities lawsuit, Chan was called on to testify as an expert on securities research. During his testimony, Chan had to invoke several results from a proprietary research carried out by his staff at Alfalfa. He did so without specifically attributing the results to them. At around the same time, Chung had to meet with a few prospective clients for a business presentation. During this presentation, he showed them some of the results obtained by Chan's team, without specifically acknowledging the research team. Instead, he referred to them with phrases like, &quot;our studies indicate that...&quot; In this set of events, as it relates to Standard II(C) - Prohibition against Plagiarism,<\/div><input type='hidden' name='question_id[]' id='qID_96' value='147824' \/><input type='hidden' id='answerType147824' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147824[]' id='answer-id-602425' class='answer   answerof-147824 ' value='602425'   \/><label for='answer-id-602425' id='answer-label-602425' class=' answer'><span>neither Chan nor Chung has violated the standard.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147824[]' id='answer-id-602426' class='answer   answerof-147824 ' value='602426'   \/><label for='answer-id-602426' id='answer-label-602426' class=' answer'><span>Chan has not violated the standard while Chung has.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147824[]' id='answer-id-602427' class='answer   answerof-147824 ' value='602427'   \/><label for='answer-id-602427' id='answer-label-602427' class=' answer'><span>both Chan and Chung have violated the standard.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147824[]' id='answer-id-602428' class='answer   answerof-147824 ' value='602428'   \/><label for='answer-id-602428' id='answer-label-602428' class=' answer'><span>Chan has violated the standard while Chung has not.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-97' style=';'><div id='questionWrap-97'  class='   watupro-question-id-147825'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>97. <\/span>Standard IV (B.3) deals with ________.<\/div><input type='hidden' name='question_id[]' id='qID_97' value='147825' \/><input type='hidden' id='answerType147825' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147825[]' id='answer-id-602429' class='answer   answerof-147825 ' value='602429'   \/><label for='answer-id-602429' id='answer-label-602429' class=' answer'><span>Duty to Employer<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147825[]' id='answer-id-602430' class='answer   answerof-147825 ' value='602430'   \/><label for='answer-id-602430' id='answer-label-602430' class=' answer'><span>Professional Misconduct<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147825[]' id='answer-id-602431' class='answer   answerof-147825 ' value='602431'   \/><label for='answer-id-602431' id='answer-label-602431' class=' answer'><span>Interactions with Clients and Prospects<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147825[]' id='answer-id-602432' class='answer   answerof-147825 ' value='602432'   \/><label for='answer-id-602432' id='answer-label-602432' class=' answer'><span>None of these answers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147825[]' id='answer-id-602433' class='answer   answerof-147825 ' value='602433'   \/><label for='answer-id-602433' id='answer-label-602433' class=' answer'><span>Prohibition against Use of Material Nonpublic Information<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147825[]' id='answer-id-602434' class='answer   answerof-147825 ' value='602434'   \/><label for='answer-id-602434' id='answer-label-602434' class=' answer'><span>Preservation of Confidentiality<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147825[]' id='answer-id-602435' class='answer   answerof-147825 ' value='602435'   \/><label for='answer-id-602435' id='answer-label-602435' class=' answer'><span>Fair Dealing<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147825[]' id='answer-id-602436' class='answer   answerof-147825 ' value='602436'   \/><label for='answer-id-602436' id='answer-label-602436' class=' answer'><span>Investment Process<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-98' style=';'><div id='questionWrap-98'  class='   watupro-question-id-147826'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>98. <\/span>Brikland Strickowski learned a month ago that one of his clients, Stratmann, had been regularly using inside information provided by numerous &quot;contacts&quot; in various firms to generate his trading activity with Brikland. Brikland was surprised at Stratmann's recklessness but did not want to get him into trouble so he did not inform anyone about this. AIMR has been tipped about Stratmann's activity and one of the investigators from AIMR's Professional Conduct Program (PCP) recently got in touch with Brikland about this. Brikland, in his desire not to have his CFA designation voided by AIMR, decided to divulge everything he knew about Stratmann's investment activity, though this information is considered confidential even by AIMR. <br \/>\r<br>Which of the following is\/are true about this sordid mess? <br \/>\r<br>I. Brikland violated Standard IV (B.5) - Preservation of Confidentiality - by revealing confidential information about Strattman to the PCP investigator. <br \/>\r<br>II. Strattman violated Standard V (A) - Prohibition Against Use of Non- Public Information. <br \/>\r<br>III. Brikland violated Standard I - Fundamental Responsibilities - by not informing his supervisor and\/or the SEC about the insider trading. <br \/>\r<br>IV. Brikland violated Standard I - Fundamental Responsibilities - by not dissociating himself from Strattman's portfolio.<\/div><input type='hidden' name='question_id[]' id='qID_98' value='147826' \/><input type='hidden' id='answerType147826' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147826[]' id='answer-id-602437' class='answer   answerof-147826 ' value='602437'   \/><label for='answer-id-602437' id='answer-label-602437' class=' answer'><span>I, II, III and IV<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147826[]' id='answer-id-602438' class='answer   answerof-147826 ' value='602438'   \/><label for='answer-id-602438' id='answer-label-602438' class=' answer'><span>II only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147826[]' id='answer-id-602439' class='answer   answerof-147826 ' value='602439'   \/><label for='answer-id-602439' id='answer-label-602439' class=' answer'><span>II and IV<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147826[]' id='answer-id-602440' class='answer   answerof-147826 ' value='602440'   \/><label for='answer-id-602440' id='answer-label-602440' class=' answer'><span>I, II and IV only<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-99' style=';'><div id='questionWrap-99'  class='   watupro-question-id-147827'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>99. <\/span>Xuanchi Zuan is a successful portfolio manager with Up &amp; Away, a money management fund that operates strongly bullish funds. One of Zuan's clients, Margo Margolis, is about to retire in a couple of years. Margo has been phasing out her risky investments over the past five years, moving them into longterm treasury bonds. <br \/>\r<br>However, she recently read in a financial magazine the attractiveness of investing in emerging markets. She was especially enticed by the 30% and 40% annual returns observed in these markets over the past 2- 3 years. She approaches Zuan and instructs him to move 30% of her funds into these markets. Zuan should:<\/div><input type='hidden' name='question_id[]' id='qID_99' value='147827' \/><input type='hidden' id='answerType147827' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147827[]' id='answer-id-602441' class='answer   answerof-147827 ' value='602441'   \/><label for='answer-id-602441' id='answer-label-602441' class=' answer'><span>none of these answers.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147827[]' id='answer-id-602442' class='answer   answerof-147827 ' value='602442'   \/><label for='answer-id-602442' id='answer-label-602442' class=' answer'><span>evaluate the emerging market investments and move the funds only if he considers them suitable for investment for Margo.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147827[]' id='answer-id-602443' class='answer   answerof-147827 ' value='602443'   \/><label for='answer-id-602443' id='answer-label-602443' class=' answer'><span>refuse to do so, pointing out the high risks involved in such investments.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147827[]' id='answer-id-602444' class='answer   answerof-147827 ' value='602444'   \/><label for='answer-id-602444' id='answer-label-602444' class=' answer'><span>move the funds into emerging market securities per Margo's request.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-100' style=';'><div id='questionWrap-100'  class='   watupro-question-id-147828'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>100. <\/span>If every one of your research reports had a statement stating that every research report on issues by a corporate client reflects the unbiased opinion of the analyst, you would be complying with Standard ________.<\/div><input type='hidden' name='question_id[]' id='qID_100' value='147828' \/><input type='hidden' id='answerType147828' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147828[]' id='answer-id-602445' class='answer   answerof-147828 ' value='602445'   \/><label for='answer-id-602445' id='answer-label-602445' class=' answer'><span>IV (<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147828[]' id='answer-id-602446' class='answer   answerof-147828 ' value='602446'   \/><label for='answer-id-602446' id='answer-label-602446' class=' answer'><span>3)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147828[]' id='answer-id-602447' class='answer   answerof-147828 ' value='602447'   \/><label for='answer-id-602447' id='answer-label-602447' class=' answer'><span>IV (<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147828[]' id='answer-id-602448' class='answer   answerof-147828 ' value='602448'   \/><label for='answer-id-602448' id='answer-label-602448' class=' answer'><span>1)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147828[]' id='answer-id-602449' class='answer   answerof-147828 ' value='602449'   \/><label for='answer-id-602449' id='answer-label-602449' class=' answer'><span>IV (<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147828[]' id='answer-id-602450' class='answer   answerof-147828 ' value='602450'   \/><label for='answer-id-602450' id='answer-label-602450' class=' answer'><span>2)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147828[]' id='answer-id-602451' class='answer   answerof-147828 ' value='602451'   \/><label for='answer-id-602451' id='answer-label-602451' class=' answer'><span>II (A)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147828[]' id='answer-id-602452' class='answer   answerof-147828 ' value='602452'   \/><label for='answer-id-602452' id='answer-label-602452' class=' answer'><span>II (C)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-147828[]' id='answer-id-602453' class='answer   answerof-147828 ' value='602453'   \/><label for='answer-id-602453' id='answer-label-602453' class=' answer'><span>II (B)<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div style='display:none' id='question-101'>\n\t<div class='question-content'>\n\t\t<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/plugins\/watupro\/img\/loading.gif\" width=\"16\" height=\"16\" alt=\"Loading...\" title=\"Loading...\" \/>&nbsp;Loading...\t<\/div>\n<\/div>\n\n<br \/>\n\t\n\t\t\t<div class=\"watupro_buttons flex \" id=\"watuPROButtons4647\" >\n\t\t  <div id=\"prev-question\" style=\"display:none;\"><input type=\"button\" value=\"&lt; Previous\" onclick=\"WatuPRO.nextQuestion(event, 'previous');\"\/><\/div>\t\t  \t\t  \t\t   \n\t\t   \t  \t\t<div><input type=\"button\" name=\"action\" class=\"watupro-submit-button\" onclick=\"WatuPRO.submitResult(event)\" id=\"action-button\" value=\"View Results\"  \/>\n\t\t<\/div>\n\t\t<\/div>\n\t\t\n\t<input type=\"hidden\" name=\"quiz_id\" value=\"4647\" id=\"watuPROExamID\"\/>\n\t<input type=\"hidden\" name=\"start_time\" id=\"startTime\" value=\"2026-05-13 08:05:35\" \/>\n\t<input type=\"hidden\" 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