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Bill Kimm, CFA owns an asset management firm with offices downtown. To minimize rent expenses, each year Bill ships the previous year’s research records to a nearby warehouse. There, the reports are digitized and stored in both electronic and hard-copy forms. After five years, all paper copies are destroyed and only electronic copies are retained. Are Bill’s record-retention procedures in compliance with the CFA Institute Standards of Practice?
A. Yes.
B. No, because he did not retain the copies in his offices.
C. No, because he failed to retain the original documents.
【答案】A
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According to the crowding-out model, persistent, large government budget deficits are most likely to be associated with a(n):
A. increase in net exports
B. decrease in private spending
C. decrease in the real rate of interest
【答案】B
Which of the following statements regarding the money supply and determination of short-term interest rates is least accurate?
A. On balance, growth in real GDP tends to increase the transactional demand for money.
B. If the short-term interest rate is greater than the equilibrium rate, there will be excess supply of real money balances.
C. An increase in the real money supply from an initial equilibrium situation will cause households and businesses to sell interest-bearing securities.
【答案】C
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