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CFA Level I · CFA Level I Exam · Guidance for Standard III: Duties to Clients

A manager gives a prospective client a one-page summary showing a fund's annual returns. The client asks for the supporting detail. Under Standard III(D), the manager most likely must:

The manager must make the detailed supporting information available on request. Standard III(D) guidance says that when a performance presentation is brief, clients and prospects can ask for the detail behind it, and best practice is to reference the limited nature of the information provided.

  1. Amake the detailed information supporting the summary available on requestCorrect
  2. Brefuse, since a brief presentation requires no supporting data
  3. Cprovide it only if the client becomes an investor

Explanation

If a presentation is brief, the member must make available to clients and prospects, on request, the detailed information supporting it. Best practice also notes the limited nature of the brief presentation.

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