Answer: Yes, because he does not indicate that performance results are partially simulated

## Explanation Dempsey's actions **violate** the Standard regarding performance presentation because: - **CFA Institute Standard I(C) - Misrepresentation** requires that members must not knowingly make any misrepresentations relating to investment analysis, recommendations, or actions - **CFA Institute Standard III(D) - Performance Presentation** requires that members must not misrepresent their performance record - **Key violation**: Dempsey failed to disclose that the 10-year performance results were partially simulated (7 years of simulated results + 3 years of actual results) - **Required disclosure**: When presenting simulated or hypothetical performance results, members must clearly disclose that the results are not actual performance and explain the limitations of such simulations - **Rationale**: Even though Dempsey used the same model and methodology, the fact that 70% of the performance period is simulated requires clear and prominent disclosure to avoid misleading potential investors **Correct Answer: C** - Yes, because he does not indicate that performance results are partially simulated

Author: LeetQuiz Editorial Team