Question
Why does issuing a recommendation without independent research violate Standard V(A)?
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Answer
It lacks adequate diligence and a reasonable basis.
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Question
Why is keeping research notes and supporting documents important under Standard V(C)?
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Answer
They document the reasonable basis for conclusions.
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Question
What must retained records be sufficient to do under Standard V(C)?
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Answer
Recreate the investment decision and supporting process.
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Question
What is the CFA Institute's recommended record-retention period under Standard V(C) if law is silent?
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Answer
At least 7 years.
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