AIF EXAM QUESTIONS LATEST
AND ANSWERS 2026 -
2027
Which of the following is NOT one of the seven Global Fiduciary
Precepts?
Prepare investment policy statement
Prepare quarterly performance reports
Know standards, laws and trust provisions
Diversify assets to specific risk/return profile of client - ANSWERS-
Prepare quarterly performance reports
When conducting an assessment of an investment policy statement to
determine conformity to the Prudent Investment Practices, the AIF or
AIFA would normally not record a non-conformity (NCR) if the IPS
fails to address:
Duties and responsibilities of all fiduciaries
END OF
PAGE
1
, AIF EXAM QUESTIONS LATEST
AND ANSWERS 2026 -
2027
Procedures for the selection of socially responsible investments
Due diligence procedures for selecting investment options
Procedures to control and account for expenses - ANSWERS-
Procedures for the selection of socially responsible investments
The key factor to consider in determining the time horizon of a portfolio
is:
Correlation
Risk tolerance
Expected return
Projected cash flows - ANSWERS-Projected Cash Flows
All of the following are provisions of the core (or general) "safe harbor"
that applies to ERISA retirement plans EXCEPT:
END OF
PAGE
2
, AIF EXAM QUESTIONS LATEST
AND ANSWERS 2026 -
2027
Prudent experts must not be given discretion over the management of the
investments
Prudent experts must be selected by a prudent due diligence process
The plan fiduciary must monitor the activities of prudent experts to
assure they are performing the roles for which they were selected
Prudent experts must acknowledge their fiduciary status in writing -
ANSWERS-Prudent experts must not be given discretion over the
management of the investments
From a best practice standpoint, it is recommended that performance
reports be prepared and reviewed at least:
Weekly
Monthly
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PAGE
3
, AIF EXAM QUESTIONS LATEST
AND ANSWERS 2026 -
2027
Quarterly
Annually - ANSWERS-Quarterly
Another name for "exculpatory clauses" is:
Good Samaritan clauses
Hold harmless clauses
Common trust clauses
Reduced liability clauses - ANSWERS-Reduced liability clauses
Best execution, proxy voting, soft dollar policies and logs should be
examined and monitored directly when what type of investment is used?
END OF
PAGE
4
AND ANSWERS 2026 -
2027
Which of the following is NOT one of the seven Global Fiduciary
Precepts?
Prepare investment policy statement
Prepare quarterly performance reports
Know standards, laws and trust provisions
Diversify assets to specific risk/return profile of client - ANSWERS-
Prepare quarterly performance reports
When conducting an assessment of an investment policy statement to
determine conformity to the Prudent Investment Practices, the AIF or
AIFA would normally not record a non-conformity (NCR) if the IPS
fails to address:
Duties and responsibilities of all fiduciaries
END OF
PAGE
1
, AIF EXAM QUESTIONS LATEST
AND ANSWERS 2026 -
2027
Procedures for the selection of socially responsible investments
Due diligence procedures for selecting investment options
Procedures to control and account for expenses - ANSWERS-
Procedures for the selection of socially responsible investments
The key factor to consider in determining the time horizon of a portfolio
is:
Correlation
Risk tolerance
Expected return
Projected cash flows - ANSWERS-Projected Cash Flows
All of the following are provisions of the core (or general) "safe harbor"
that applies to ERISA retirement plans EXCEPT:
END OF
PAGE
2
, AIF EXAM QUESTIONS LATEST
AND ANSWERS 2026 -
2027
Prudent experts must not be given discretion over the management of the
investments
Prudent experts must be selected by a prudent due diligence process
The plan fiduciary must monitor the activities of prudent experts to
assure they are performing the roles for which they were selected
Prudent experts must acknowledge their fiduciary status in writing -
ANSWERS-Prudent experts must not be given discretion over the
management of the investments
From a best practice standpoint, it is recommended that performance
reports be prepared and reviewed at least:
Weekly
Monthly
END OF
PAGE
3
, AIF EXAM QUESTIONS LATEST
AND ANSWERS 2026 -
2027
Quarterly
Annually - ANSWERS-Quarterly
Another name for "exculpatory clauses" is:
Good Samaritan clauses
Hold harmless clauses
Common trust clauses
Reduced liability clauses - ANSWERS-Reduced liability clauses
Best execution, proxy voting, soft dollar policies and logs should be
examined and monitored directly when what type of investment is used?
END OF
PAGE
4
