题目内容

Arbitrage activity will most likely be higher in securities markets:

A. That are efficient.
B. With no restrictions on short selling.
C. With high information-acquisition costs.

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Who is most likely responsible for claiming and maintaining compliance with the CFA Institute Global Investment Performance Standards (GIPSY)?

A. Independent verification firms
B. The firm claiming compliance
C. The performance measurement department

The execution step of the portfolio management process includes:

A. Finalizing the asset allocation.
B. Monitoring the portfolio performance.
C. Preparing the investment policy statement.

Which of the following least likely describes an advantage of investing in hedge funds through a fund of funds? A fund of funds may provide investors with:

A. Lower fees due to economies of scale.
B. Access to funds that are closed to new investors.
C. Access to managers with expertise in finding reliable and good-quality hedge funds.

Colin Caldwell, CFA, is the chief investment officer of Northwest Mutual Fund, whose investment objective is to invest in fixed income emerging market securities. Caldwell allocates the funds assets p

A. diversification.
B. Communication with clients.
C. Investments outside his mandate.

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