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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 a thorough knowledge of the Code of Ethics and Standards of Professional Conduct by applying the Code and Standards to specific situations;
recommend practices and procedures designed to prevent violations of the Code of Ethics and Standards of Professional Conduct.
CFA® 2025 Level II Curriculum, Volume 6, Module 44.