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Corporate directors are governed by the ________. Trustees are governed by the ________.
Corporate directors are governed by the ________. Trustees are governed by the ________.A . none of these answersB . "common sense doctrine"; business judgment ruleC . business judgment rule; Prudent Man RuleD . business judgment rule; "common sense doctrine"E . "common sense doctrine"; Prudent Man RuleF . Prudent Man Rule;...
Joseph Silk is a veteran money manager with Aakanksha, Inc., a hedge fund that caters to high net- worth individuals. His friend, Gribbin, recently incorporated a private business and invited Joseph to be on its board of directors. Gribbin's business is in the paper industry and does not directly or indirectly affect Aakanksha's client base. Joseph accepted the board membership with the understanding that he would participate in Gribbin's business only over the weekends. He considered this a private venture and did not inform Aakanksha's Compliance officer. In not doing so, Joseph has
Joseph Silk is a veteran money manager with Aakanksha, Inc., a hedge fund that caters to high net- worth individuals. His friend, Gribbin, recently incorporated a private business and invited Joseph to be on its board of directors. Gribbin's business is in the paper industry and does not directly or...
Which of the following is true, in relation to Jackson's need to comply with Standard II (C)?
Susan Jackson, with HRS Investments, is appearing in court as an expert witness. She will have to use research done at HRS, to which she did not contribute directly, during her testimony. Which of the following is true, in relation to Jackson's need to comply with Standard II (C)?A ....
"Restricted Periods" are discussed in Standard IV (B.4), Priority of Transactions. Another name for restricted periods is ________ periods.
"Restricted Periods" are discussed in Standard IV (B.4), Priority of Transactions. Another name for restricted periods is ________ periods.A . blackoutB . restrainedC . none of these answersD . captiveView AnswerAnswer: A Explanation: Firm procedures should prevent managers or employees from initiating trades in a security for which their firms...
Standard IV of the Standards of Professional Conduct deals with Relationships with and Responsibilities to ________.
Standard IV of the Standards of Professional Conduct deals with Relationships with and Responsibilities to ________.A . None of these answersB . Clients and ProspectsC . AIMRD . SupervisorsE . the EmployerView AnswerAnswer: B Explanation: Standard IV of the Standards of Professional Conduct deals with Relationships with and Responsibilities to...
Everly Smith has passed Level II of the CFA examination. While studying for Level III, he circulates his resume stating that he has "completed Charter Financial Analyst II" and his resume lists his name as "Everly Smith, CFA II." Which of these following statements is correct?
Everly Smith has passed Level II of the CFA examination. While studying for Level III, he circulates his resume stating that he has "completed Charter Financial Analyst II" and his resume lists his name as "Everly Smith, CFA II." Which of these following statements is correct?A . Everly Smith is...
Spassky was assigned the task of managing the portfolio of Fisher three days ago when Anand, who was managing Fisher's portfolio, retired. Fisher's portfolio consists of some deep- in- the- money put options, which will be exercised today, resulting in a cash flow of about $40,000. Spassky has not yet had a chance to meet Fisher in person to determine his needs, investment objectives and risk appetite. He did get a briefing from Anand about the portfolio and has a general idea about Fisher's investment attitude. In fact, over the past two years, Fisher's portfolio has generated handsome returns due to high- risk investments which Fisher prefers. Spassky's problem is determining what he should do with the $40,000. According to the AIMR Code of Ethics, he should:
Spassky was assigned the task of managing the portfolio of Fisher three days ago when Anand, who was managing Fisher's portfolio, retired. Fisher's portfolio consists of some deep- in- the- money put options, which will be exercised today, resulting in a cash flow of about $40,000. Spassky has not yet...
Which of the following AIMR Standards states that referral fees must be disclosed in writing to clients or customers?
Which of the following AIMR Standards states that referral fees must be disclosed in writing to clients or customers?A . VB . VI (A)C . IV (D . 8)E . IVView AnswerAnswer: C Explanation: Standard IV (B.8) - Disclosure of Referral Fees states: "Members shall disclose to clients and prospects...
Standard II (A) deals with ________.
Standard II (A) deals with ________.A . Obligation to Inform Employer of Code and StandardsB . None of these answersC . Professional MisconductD . PlagiarismE . Use of Professional DesignationF . Duty to EmployerG . Disclosure of Conflicts to EmployerH . Fundamental ResponsibilitiesView AnswerAnswer: E Explanation: Standard I deals with...
The disclosures for retroactive compliance apply to composites formulated prior to ________.
The disclosures for retroactive compliance apply to composites formulated prior to ________.A . January, 1989B . January, 1992C . January, 1991D . January, 1993E . January, 1990View AnswerAnswer: D Explanation: The effect date to be in compliance with AIMR- PPS was January 1, 1993. Any composites which predate the effective...
