CFA Level 1, Mock Exam A: Afternon Session

GIPS Standards - ANSWER In cases where applicable local laws governing calculation and presentation of investment performance conflict with the GIPS standards, firms are: - ANSWER required to comply with local regulations and make full disclose of the conflict to claim GIPS compliance Vishal Chandarana, an unemployed research analyst, recently registered for the CFA Level I exam. After two months of intense interviewing, he accepts a job with a stock brokerage company in a different region of the country. Chandarana posts on a social media blog how being a CFA candidate really helped him get a job. He also notes how relieved he was when his new employer didn't ask him about being fired from his former employer. Which CFA Institute Code of Ethics or Standards of Professional Conduct did Chandarana least likely violate? - ANSWER reference to the CFA Program Miranda Grafton, CFA, purchased a large block of stock at varying prices during the trading session. The stock realized a significant gain in value before the close of the trading day, so Grafton reviewed her purchase prices to determine what prices should be assigned to each specific account. According to the Standards of Practice Handbook, Grafton's least appropriate action is to allocate the execution prices: - ANSWER across the participating client accounts pro rata on the basis of account size