CFA Institute CFA-Level-I Exam - Topic 3 Question 21 Discussion

Actual exam question for CFA Institute's CFA-Level-I exam

Question #: 21
Topic #: 3

[All CFA-Level-I Questions]

According to the AIMR-PPS, ________ are defined to include all discretionary and nondiscretionary assets.

Aindividually managed assets

Ctotal firm assets

Dglobal assets

Show Suggested Answer

Suggested Answer: C

by Cammy at Aug 16, 2025, 03:43 PM

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Stephaine

5 months ago

I thought global assets would fit better, honestly.

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Denny

5 months ago

Yeah, total firm assets makes the most sense here.

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Oliva

5 months ago

Wait, are we sure about that? Seems off to me.

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Tatum

6 months ago

Totally agree, it's definitely not individually managed assets.

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Lorrine

6 months ago

I think it's total firm assets.

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Galen

6 months ago

I remember discussing "individually managed assets" in class, but I’m not confident. There were so many terms that sounded similar!

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Melinda

7 months ago

I’m leaning towards "global assets," but I can't recall the exact context. It seems like it could relate to how AIMR-PPS categorizes things.

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Aileen

7 months ago

I feel like "total firm assets" could also fit, but it seems too broad. I practiced a question similar to this, and it was more specific.

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Launa

7 months ago

I think the answer might be "individually managed assets," but I'm not completely sure. I remember something about discretionary assets being a key part of that definition.

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Bettina

7 months ago

Based on my understanding, total firm assets is the correct answer here. The AIMR-PPS specifically states that this category encompasses all discretionary and nondiscretionary assets.

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Arlette

7 months ago

I'm a bit confused on the difference between individually managed assets and total firm assets. I'll have to double-check the definitions to make sure I select the right answer.

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Ciara

7 months ago

Okay, I think I've got this. The AIMR-PPS defines total firm assets as including all discretionary and nondiscretionary assets, so the answer must be C.

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Delsie

8 months ago

Hmm, this seems like a tricky one. I'll need to carefully review the AIMR-PPS guidelines to make sure I understand the definition of the different asset types.

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Elza

8 months ago

Haha, I bet the exam writers are trying to trick us with this one. Total firm assets, of course! They're not going to let us off that easy.

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Nickolas

8 months ago

Definitely C) total firm assets. I remember that one clearly from my study materials. No doubt about it.

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German

4 months ago

C) total firm assets is definitely the right choice!

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Helene

5 months ago

I agree with C) total firm assets.

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Lyla

5 months ago

I think it's A) individually managed assets.

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Tamekia

6 months ago

D) global assets seems off to me.

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Cruz

9 months ago

Hmm, I'm not sure about this one. Is it possible that the answer could be D) global assets? I feel like that's a term they use in the standards as well.

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