When must an analyst give credit to the firm 抯 own research staff for research analysis？
A. When sending printed materials to clients.
B. When discussing research with a client.
C. In a professional witness situation.
D. In inter-office communications.
Which one of the following is NOT consistent with AIMR’s Performance Presentation Standards？
A. Cash and cash equivalents must be included in composite returns.
B. All actual, fee paying, discretionary portfolios should be included in at least one composite.
C. Investment performance is the record of the manager not the firm, all changes in personnel should be accounted for by adjusting the composite’s performance history.
D. Presentation of performance may be either gross or net of investment management fees, as long as the method and the fee schedule are disclosed.
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