2004 CFA® Level III Examination Morning Session – Essay
Candidate Number:

FOR AIMR USE ONLY

FOR AIMR USE ONLY

_____ _____ _____ _____ _____ _____ _____

THIS BOOK IS THE PROPERTY OF:

Association for Investment Management and Research®
560 Ray C. Hunt Drive Charlottesville VA 22903-0668 USA Tel: 434-951-5499 © 2004 Association for Investment Management and Research. All rights reserved.

The following list contains the command words used on the Morning Session of the 2004 CFA Level III examination. Candidates may want to refer to this list as they formulate their answers.
Calculate: Describe: To ascertain or determine by mathematical processes. To transmit a mental image, an impression, or an understanding of the nature and characteristics of. To come to a decision as the result of investigation or reasoning; to settle or decide by choice among alternatives or possibilities. To discourse about through reasoning or argument; to present in detail. To give the meaning or significance of; to provide an understanding of; to give the reason for or cause of. To put in a systematized statement or expression; to prepare according to a formula. To yield or furnish as a product, consequence, or effect; to offer for the consideration, acceptance, or use of another. To establish the identity of; to show or prove the sameness of. To point out or point to with more or less exactness; to show or make known with a fair degree of certainty. To form an opinion about through careful weighing of evidence and testing of premises. To prove or show to be valid, sound, or conforming to fact or reason; to furnish grounds or evidence for. To bring forward as being fit or worthy; to indicate as being one’s choice for something or as otherwise having one’s approval or support. To set forth in a statement, account, or description; to make evident or clear. To provide with