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NEW QUESTION: 1
Which of the following is/are required by AIMR-PPS with regards to calculation of returns?
I. The return for after-tax composites that hold both taxable and tax-exempt securities should be stated on an equivalent, "pre-tax" basis.
II. Real Estate must be appraised annually unless client agreements state otherwise.
III. For commingled fund-of-funds structure, segregated Irrs net of trading expenses must be presented.
A. I and III only
B. none of them
C. I, II and III
D. III only
Answer: B
Explanation:
Explanation/Reference:
Explanation:
The return for after-tax composites that hold both taxable and tax-exempt securities should be stated on an
"after-tax" basis and should not be "grossed" up. Real Estate investments must be appraised every three years and the valuations reviewed quarterly unless client agreements state otherwise. For separately managed accounts commingled fund-of-funds structure, cumulative Irrs net of trading expenses must be presented.

NEW QUESTION: 2
During an account receivables audit, an internal auditor found a significant number of input errors resulting in a $500,000 balance understatement. Which of the following is the most important question the internal auditor should ask to develop an appropriate recommendation for this finding?
A. When?
B. How?
C. Why?
D. Who?
Answer: C

NEW QUESTION: 3
Given the following code, what is correct?
function f(stdClass &$x = NULL) { $x = 42;}
$ z = new stdClass;
f($z);
var _dump($z);
A. Result is object of type stdClass
B. Result is NU LL
C. Error: Typehints cannot be NULL
D. Result is 42
E. Error: Typehints cannot be references
Answer: D