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Basic Question 1 of 1
A CFA charterholder owns an asset management firm with offices downtown. To minimize rent expenses, each year the charterholder ships the previous year's research records to a nearby warehouse. There, the reports are digitized and stored in both electronic and hard-copy forms. After five years, all paper copies are destroyed and only electronic copies are retained. Are the charterholder's record-retention procedures in compliance with CFA Institute Standards of Practice?
B. Yes, because he is only required to retain hard copies for five years.
C. Yes, because he still retains electronic copies of the original documents.
A. No
B. Yes, because he is only required to retain hard copies for five years.
C. Yes, because he still retains electronic copies of the original documents.
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I used your notes and passed ... highly recommended!
Lauren
Learning Outcome Statements
demonstrate the application of the Code of Ethics and Standards of Professional Conduct to situations involving issues of professional integrity
recommend practices and procedures designed to prevent violations of the Code of Ethics and Standards of Professional Conduct
identify conduct that conforms to the Code and Standards and conduct that violates the Code and Standards
CFA® 2024 Level I Curriculum, Volume 6, Module 3.