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Does Garvey's acceptance of the gifts from Koons and Jones violate Standard 1(B) Independence and Objectivity?
Glenda Garvey is interning at Samson Securities in the summer to earn money for her last semester of studies for her MBA. She took the Level 3 CFA® exam in June but has not yet received her score. Garvey’s work involves preparing research reports on small companies. Garvey is at...
PBO? Pension expense?
Andrew Carson is an equity analyst employed at Lee, Vincent, and Associates, an investment research firm. In a conversation with his supervisor, Daniel Lau, Carson makes the following two statements about defined contribution plans. Statement 1: Employers often face onerous disclosure requirements. Statement 2: Employers often bear all the investment...
Which of the following is least likely to prevent earnings manipulation?
High Plains' average net operating assets at the end of 2008 and 2007 was $977.89 million and $642.83 million, respectively. Which of the following is least likely to prevent earnings manipulation?A . The independent audit.B . SEC certification filed by High Plains' CEO and CFD . High Plains' bond covenants.View...
During the lunch conversation, which CFA Institute Standard of Professional Conduct was most likely violated?
Glenda Garvey is interning at Samson Securities in the summer to earn money for her last semester of studies for her MBA. She took the Level 3 CFA® exam in June but has not yet received her score. Garvey’s work involves preparing research reports on small companies. Garvey is at...
Which of the following is least likely to prevent earnings manipulation?
High Plains' average net operating assets at the end of 2008 and 2007 was $977.89 million and $642.83 million, respectively. Which of the following is least likely to prevent earnings manipulation?A . The independent audit.B . SEC certification filed by High Plains' CEO and CFD . High Plains' bond covenants.View...
Return on assets? Return on equity?
Andrew Carson is an equity analyst employed at Lee, Vincent, and Associates, an investment research firm. In a conversation with his supervisor, Daniel Lau, Carson makes the following two statements about defined contribution plans. Statement 1: Employers often face onerous disclosure requirements. Statement 2: Employers often bear all the investment...
What is the most likely effect of High Plains' revenue recognition policy on net income and inventory turnover?
High Plains' average net operating assets at the end of 2008 and 2007 was $977.89 million and $642.83 million, respectively. What is the most likely effect of High Plains' revenue recognition policy on net income and inventory turnover?A . Net income and inventory turnover are overstated.B . Only net income...
Andrew Carson is an equity analyst employed at Lee, Vincent, and Associates, an investment research firm. In a conversation with his supervisor, Daniel Lau, Carson makes the following two statements about defined contribution plans.
Andrew Carson is an equity analyst employed at Lee, Vincent, and Associates, an investment research firm. In a conversation with his supervisor, Daniel Lau, Carson makes the following two statements about defined contribution plans. Statement 1: Employers often face onerous disclosure requirements. Statement 2: Employers often bear all the investment...
Did the marketing materials presented to Crossley by Burton violate Standard III(D) Performance Presentation or Standard VI 1(B) Reference to CFA Institute, the CFA Designation, and the CFA Program?
Connor Burton, CFA, is the managing partner for United Partners, a small investment advisory firm that employs three investment professionals and currently has approximately $250 million of assets under management. The client base of United Partners is varied, and accounts range in size from small retirement accounts to a $30...
According to CFA Institute Research Objectivity Standards (ROS), which of the following statements is most accurate with regard to Holly's disclosure of his ownership of BigTime restricted shares and past investment banking relationship with BigTime?
Pat Wilson, CFA, is the chief compliance officer for Excess Investments, a global asset management and investment banking services company. Wilson is reviewing two investment reports written by Peter Holly, CFA, an analyst and portfolio manager who has worked for Excess for four years. Holly's first report under compliance review...
