CFA Practice Question

There are 361 practice questions for this study session.

CFA Practice Question

CFA Institute recommends maintaining records for at least ______ years.
A. five
B. seven
C. ten
Explanation: CFA Institute recommends maintaining records for at least seven years.

User Contributed Comments 8

User Comment
danlan Five or seven years?
kaliokale 5 for GIPS but 7 for this one
RNAN I wonder who (or how it was) in the CFA Institute decided upon 7 years rather than 8? Isn't there a superstition about breaking a mirror causing a person to have 7 years of bad luck?
mcspaddj I think the IRS goes by 7 years. CFA Institute probably just followed suit, since this is the norm for most businesses already. But I have no basis for this, so don't quote me.
Lamkerst123 It is not 7 years. It is AT LEAST 7 years.
shiva5555 I am quoting you, "I think the IRS goes by 7 years."
talhasan It says in the book "at least seven years". Very straight forward.
deleseleuc IRS in the US as well the CRA in Canada and all major financial institutions in Canada are 7 years. Only thing that saved me for this question.
You need to log in first to add your comment.