CFA Level I · CFA Level I Exam · Guidance for Standard V: Investment Analysis, Recommendations, and Actions
A portfolio manager has no applicable regulatory retention requirement and her firm has no retention policy. According to CFA Institute guidance on Standard V(C), the manager should most appropriately maintain her supporting records for at least:
She should keep the records for at least seven years. When neither regulation nor firm policy sets a retention period, CFA Institute recommends maintaining records for at least seven years to meet Standard V(C).
- Athree years
- Bfive years
- Cseven yearsCorrect
Explanation
When there is no regulatory guidance or firm policy, CFA Institute recommends maintaining records for at least seven years. Shorter periods are not what the guidance recommends.
Did you get it right without looking?
One question tells you little. A timed set on Guidance for Standard V: Investment Analysis, Recommendations, and Actions shows your real accuracy, how long you take and where you lose marks.
More Guidance for Standard V: Investment Analysis, Recommendations, and Actions questions
- Okafor is a research analyst who writes reports on luxury retailers. His reports draw on company visits, customer surveys, and secondary res…
- A candidate is on a team that produces a group research report carrying her name. She personally disagrees with the consensus rating, but sh…
- Sofia Marchetti, a CFA candidate, is one of four members of a research team that publishes a group report on a retailer. She personally favo…
- A portfolio manager changes the investment process by replacing a fundamental stock-selection screen with a quantitative momentum model. The…
- An analyst at a brokerage firm issues a buy recommendation after reading only a one-page summary of a company's results prepared by the comp…
- Which firm policy would most likely support the conduct required by Standard V(A) for computer-based models used to rate financial instrumen…