CCFR-201 Practice Questions

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NEW QUESTION: 1
Mike Jordan recently met his old friend, Charlie Barklee, who's an accomplished statistician. Charlie showed him his new model for predicting stock prices and after considerable discussion, Mike was convinced the model was a viable alternative to his current methodology for picking stocks. To test it, he downloaded historical data from a well-known statistical data provider's web site. The tests indicated that some parts of the model needed fine tuning, which Mike implemented himself, without Charlie's help. Mike:
A. none of these answers.
B. can show his clients the model, without any special disclosures, because all of the tests were done by him with publicly available data.
C. cannot circulate the model since it is not publicly available.
D. must acknowledge Charlie's contribution. Otherwise, he would be in violation of the code of ethics and be subject to disciplinary action from AIMR.
Answer: D
Explanation:
Explanation/Reference:
Explanation:
Standard II (C) - Prohibition against Plagiarism.

NEW QUESTION: 2
Which of the following recovery plan test results would be most useful to management?
A. description of each activity.
B. amount of work completed.
C. list of successful and unsuccessful activities.
D. elapsed time to perform various activities.
Answer: C
Explanation:
Explanation/Reference:
After a test has been performed the most useful test results for manangement would be knowing what worked and what didn't so that they could correct the mistakes where needed.
The following answers are incorrect:
elapsed time to perform various activities. This is incorrect because it is not the best answer, these results are not as useful as list of successful and unsuccessful activities would be to managment.
amount of work completed. This is incorrect because it is not the best answer, these results are not as useful as list of successful and unsuccessful activities would be to managment.
description of each activity. This is incorrect because it is not the best answer, these results are not as useful as list of successful and unsuccessful activities would be to managment.

NEW QUESTION: 3
Which of the following are valid RAP operating modes?
A. Backup, Hotel-Connect, Standard, Persistent
B. Always, Hotel-Connect, Tunnel, Standard
C. Always, Backup, Tunnel, Persistent
D. Backup, Normal, Tunnel, Always
E. Always, Backup, Standard, Persistent
Answer: E