2007 CFA Level j Semple Exam 2007 Level 1 Sample Exam Volume 3 ‘$1-Ethics and Professional Standards Q4.According to the Global Investment Performance Standards (GIPS), verification procedures do NOT include: disclosures. calculation methodology. sample account selection nondiscretionary accounts. pog> $813/14-Equity Investments 45. Toward the peak of the business cycle, which of the following industries is most likely to outperform the others? consumer staples. financial services. consumer durable goods. basic materials industries. oog> $S15/16-Fixed Income Investments 052. At yield levels that are high relative to the bond's coupon rate, is the price of an option-ree bond higher than price of an otherwise idestical: Callable bond? Putable bond? A NO NO B No YES Cc YES NO DYES YES