What to know
Identify the rule, formula, or decision criterion before reading the answer choices. CFA Level I distractors often use the right vocabulary with the wrong condition.
Ethical and Professional Standards
Standard V(C) Record Retention practice questions
Standard V(C) Record Retention is part of CFA Level I Ethical and Professional Standards. Ethics questions test judgment under the Code and Standards, especially duties to clients, employers, markets, and the CFA Program. Use this page to review the controlling ideas, then work through 4 questions with answer explanations and common traps.
Review the worked explanations before moving into adaptive practice. The app version can mix this topic with due reviews and weak related concepts.
Practice this topicHow to practice
Work each item under time pressure, then compare your reasoning with the step-by-step explanation and key takeaway.
Review signal
Missed questions should become scheduled reviews when the error comes from a concept gap, formula setup, or answer-choice trap.
Ethical and Professional Standards
Standard V(C) Record Retention
Research records supporting recommendations are generally:
View sampleEthical and Professional Standards
Standard V(C) Record Retention
An analyst resigns and takes copies of research notes supporting recommendations made at the firm. Firm policy says records remain property of the firm. The analyst most likely:
View sampleEthical and Professional Standards
Standard V(C) Record Retention
Neither applicable law nor the analyst's firm specifies a retention period for research records. The analyst deletes supporting valuation files three years and one month after publishing the recommendation. Under CFA Institute's recommended procedures, the action is best described as:
View sampleEthical and Professional Standards
Standard V(C) Record Retention
An analyst resigns after five years. Her employer keeps no research archive and tells her to delete all model files. Local law is silent. The analyst wants to keep copies of the models and client notes at home to defend her past recommendations. Under the Standards, the analyst should most appropriately:
View sample