Level I Verification

D

This is a requirement under Level I verification procedures.

The correct answer to the question is D. firmwide.

The question is related to the verification requirements for Level I of the Chartered Financial Analyst (CFA) program. The CFA program is administered by the CFA Institute, which sets standards for the investment management profession. The question specifically refers to the requirements of the AIMR-PPS, which stands for "Association for Investment Management and Research - Performance Presentation Standards." These standards provide guidelines for the calculation and presentation of investment performance.

In order to achieve Level I verification, candidates must meet the requirements of the AIMR-PPS on a firmwide basis. This means that the standards must be applied consistently throughout the entire organization or firm. The purpose of this requirement is to ensure that investment performance is measured and presented in a uniform and reliable manner across all areas of the firm.

Option A, international, is incorrect because the question does not specify that the verification is required on an international basis. The verification is based on meeting the AIMR-PPS requirements, which are global standards, but the question does not explicitly mention an international scope.

Option B, attainable, is incorrect because it does not relate to the concept of verification requirements. While the requirements should indeed be attainable for candidates, the question is asking about the basis of the verification process, not the nature of the requirements themselves.

Option C, nationwide, is incorrect because it implies that the verification is limited to a specific country or region. However, the CFA program is globally recognized, and the verification requirements apply to firms worldwide, not just within a single nation.

Therefore, the correct answer is D. firmwide, as it accurately reflects that the Level I verification requires independent attestation that the requirements of the AIMR-PPS have been met throughout the entire organization or firm.