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AIF Overview Exams Question And Answers 2024
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AIF Overview Exams Question AndAnswers 2024
Standard of Care - Fiduciary - correct answers✅1-Principles and
relationship based
2-Undivided duty of loyalty to client:
• Avoid or manage conflicts
• Greater transparency of conflicts
3-Duty of care of a prudent expert with utmost good faith:
• Prudent expert standard
• Advice must be suitable and in clients best interests
Standard of Care - Fair Dealing - correct answers✅1- Rules and
transaction-based
• Arms-length relationship
2 - Divided loyalty of agent between firm and customer:
• Conflicts may exist unmanaged and undisclosed
3 - Deal fairly, consistent with industry suitability standard:
• Suitability standard rapidly evolving
Global Fiduciary Standards of Excellence - correct answers✅the
investment process FI360 designed to ensure investment
decisions are prudently managed.
Investment Fiduciary - correct answers✅someone who is
managing the assets of another person and stands in a special
relationship of trust, confidence, and /or legal responsibility.
,AIF Overview Exams Question And
Answers 2024
Investment Stewards - correct answers✅manage the overall
investment decision-making process
Investment Advisors - correct answers✅professionals who
provide comprehensive and continuous advice to Stewards.
Investment Managers - correct answers✅make securities
transaction decisions and generally act with discretion.
How many investment Stewards? - correct answers✅more than
five million men and women, responsible for managing more than
80% of the nation's liquid invested assets.
Examples of Stewards - correct answers✅individuals who serve
as:
• trustees;
• committee members for endowments, foundations, and
other institutional accounts;
• plan sponsors; or
• who occupy similar positions entrusted with managing
assets for others.
• stand at the top of the fiduciary pecking order.
How many Investment Advisors - correct
answers✅Approximately 317,000* investment advisors as of
2011
, AIF Overview Exams Question And
Answers 2024
Examples of Investment Advisors - correct answers✅- wealth
managers
- financial advisors
- trust officers
- financial consultants
- investment consultants
- financial planners
Defining characteristic of Investment Advisors - correct
answers✅Prudent Experts who give comprehensive and
continuous advice
How many Investment Managers - correct answers✅There are
more than 16,400 investment companies in the U.S employing
Examples of Investment Managers - correct answers✅- mutual
fund managers
- exchange traded fund (ETFs) managers
- separately managed accounts managers
Defining characteristic of Investment Manager - correct
answers✅Prudent experts who exercise discretion
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