Question 56. 56. Which of the following organizations recommends best practices

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Question 56.56. Which of the following organizations recommends best practices for the investment management industry? (Points : 1)        PRMIA
       Risk Standards Working Group
       GARP
       G-30
       Financial Accounting Standards Board Question 57.57. Which of the following activities does senior management not do? (Points : 1)        ensure that personnel are qualified
       ensure that controls are in place
       execute hedge transactions
       establish policies
       define roles and responsibilities Question 58.58. The primary distinction between FAS 133 and IAS 39 is (Points : 1)        IAS 39 does not permit hedge accounting
       IAS 39 was adopted earlier than FAS 133
       IAS 39 applies only to publicly traded corporations
       IAS 39 applies to all financial assets and liabilities, not just derivatives
       none of the above Question 56.56. Which of the following organizations recommends best practices for the investment management industry? (Points : 1)        PRMIA
       Risk Standards Working Group
       GARP
       G-30
       Financial Accounting Standards Board

Explanation / Answer

56. a) PRIMA

57. c, execute hedge transactions

Executing Hedge transactions is not the work of the senior manager

58. a) IAS 39 does not permit hedge accounting

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