CFA® Level 1

Review 22 CFA-R-LEVEL-1 practice questions with answer explanations and community insights.

Question 1

Standard IV (B.7) deals with ________.

  1. Priority of Transactions
  2. None of these answers
  3. Disclosure of Referral Fees
  4. Performance Presentation
  5. Prohibition against Misrepresentation
  6. Disclosure of Conflicts to Clients and Prospects
  7. Preservation of Confidentiality
  8. Prohibition against Use of Material Nonpublic Information

Question 2

________ establishes the fiduciary principles for U.S. corporate pension plans.

  1. AIMR
  2. PSPC
  3. ERISA
  4. WTO
  5. UMIFA
  6. None of these answers
  7. RELAC

Question 3

Each of the following is true regarding Standard II (A), except:

  1. You must be registered for the next CFA exam in order to call yourself a candidate.
  2. This standard relates to business cards and letterheads.
  3. This standard does not relate to oral statements.
  4. There is no designation for someone who has passed Level I, II, or III.
  5. All of these answers.
  6. Candidates may state that they have completed Level I, II, or III.

Question 4

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

  1. violated Standard IV (B.1) - Fiduciary Duties.
  2. violated Standard IV (A.2) - Research Reports.
  3. violated Standard IV (B.8) - Disclosure of Referral Fees.
  4. not violated any standards.
We are moving to a new platform

CertificationTest is being migrated. Some pages may be slow or briefly unavailable; everything will be back to normal within a few hours. If you run into any issue, email support@certificationtest.net.