Level Verification for CFA Exam | Test Prep

Level Verification

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Question

Level ________ verification assures that all of the firm's actual, discretionary, fee-paying portfolios are included in at least one composite.

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A. B. C. D. E.

D

Level I Verification requires that each of the firm's discretionary, fee-paying portfolios is included in at least one composite and that the firm's procedures for assigning portfolios to composites are reasonable and have been consistently applied over time.