AIFA Study Guide 2026
Everything you need to pass the AIFA exam in one place: the exam format, every topic to study, real practice questions with explanations, flashcards, and full-length practice tests. Free, no sign-up needed.
📋 AIFA Exam Format at a Glance
📚 AIFA Topics to Study (21)
✍️ Sample AIFA Questions & Answers
1. What is the PRIMARY benefit of standardizing marketing & business development practices in Applied Investment & Finance Analyst?
Standardization promotes consistency across the organization, simplifies maintenance, and enables better collaboration between team members.
2. A portfolio manager discovers that a colleague has been front-running client orders. What is the ethical obligation of the manager?
Front-running is a serious ethical violation, and investment professionals have a duty to report known misconduct to appropriate supervisors or compliance personnel.
3. How should human resources & talent development upgrades be managed in a Applied Investment & Finance Analyst environment?
A structured change management process with testing and rollback plans minimizes risk and ensures upgrades do not disrupt operations.
4. Under the Investment Advisers Act of 1940, registered investment advisers in the US owe clients which standard of care?
SEC-registered investment advisers are held to a fiduciary standard, requiring them to act in the client's best interest at all times, which is stricter than the suitability standard.
5. Which financial statement provides a snapshot of a company's assets, liabilities, and equity at a specific point in time?
The Balance Sheet (also called Statement of Financial Position) reports a company's financial position at a single date, organized by assets, liabilities, and shareholders' equity.
6. What is the primary purpose of a firm's compliance manual in an investment advisory context?
A compliance manual establishes written policies and procedures to help firm employees meet their regulatory and ethical obligations, reducing the risk of violations.