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Using only the information found in Exhibit 1 and Exhibit 2, which of the following is most indicative of lower earnings quality?
High Plains' average net operating assets at the end of 2008 and 2007 was $977.89 million and $642.83 million, respectively. Using only the information found in Exhibit 1 and Exhibit 2, which of the following is most indicative of lower earnings quality?A . High Plains' discretionary expenses.B . The change...
Did Sampson and/or Lawson violate the CFA Institute Standards of Professional Conduct with respect to presenting the TIM biographies to the client?
For the past 15 years, Susan Luna, CFA, Kyle Lawson, CFA, and Matt Miller. CFA, have worked together as equity analysts and then equity portfolio managers in the investment management division (BIMCO) of the Broadway Life Insurance Company. For the past five years, the three associates have worked together managing...
Does High Plains' accounting treatment of its capital leases and receivable sale lower its earnings quality?
High Plains' average net operating assets at the end of 2008 and 2007 was $977.89 million and $642.83 million, respectively. Does High Plains' accounting treatment of its capital leases and receivable sale lower its earnings quality?A . Both treatments lower earnings quality.B . The treatment of capital leases lowers earnings...
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...
By using the information obtained as a result of participating in the drug study, did Taylor likely violate any CFA Institute Standards of Professional Conduct?
Mary Montpicr is an equity analyst with World Renowned Advisors. The firm provides investment advice and financial planning services globally to institutional and retail clients. Shortly after the company opened an office in Malaysia, Montpier's supervisor in the New York office. Rick Reynolds, asked her to relocate, and Montpier agreed....
Trent's arbitrage trading based on interest rate parity is successful mostly due to Trent's large size, which provides it with an advantage relative to smaller, competing currency trading firms. Has Trent violated CFA Institute Standards of Professional Conduct with respect to its trading strategy or its guarantee of results?
Martha Gillis, CFA, trades currencies for Trent, LLC. Trent is one of the largest investment firms in the world, and its foreign currency department trades more currency on a daily basis than any other firm. Gillis specializes in currencies of emerging nations. Gillis received an invitation from the new Finance...
According to CFA Institute Standards of Professional Conduct, which of the following statements is most accurate with regard to the arrangement proposed by Basch to Cooken?
A potential client contacted an employee and wanted detailed performance records of client accounts so he can decide whether to invest with the firm." Basch goes on to say that she is responsible for developing a presentation on the differences between the Prudent Investor and the Prudent Man rules for...
Which of the following best describes the effect on the parent's fiscal 2008 sales when translated to Canadian dollars?
SIMULATION Ota L'Abbe, a supervisor at an investment research firm, has asked one of the junior analysts, Andreas Hally, to draft a research report dealing with various accounting issues. Excerpts from the request are as follows: • “There's an exciting company that we're starting to follow these days. It's called...
Would either of the compensation arrangements to reward Wurtzel for client referrals be in violation of the CFA Institute Standards of Professional Conduct?
For the past 15 years, Susan Luna, CFA, Kyle Lawson, CFA, and Matt Miller. CFA, have worked together as equity analysts and then equity portfolio managers in the investment management division (BIMCO) of the Broadway Life Insurance Company. For the past five years, the three associates have worked together managing...
Martha Gillis, CFA, trades currencies for Trent, LLC. Trent is one of the largest investment firms in the world, and its foreign currency department trades more currency on a daily basis than any other firm. Gillis specializes in currencies of emerging nations.
Martha Gillis, CFA, trades currencies for Trent, LLC. Trent is one of the largest investment firms in the world, and its foreign currency department trades more currency on a daily basis than any other firm. Gillis specializes in currencies of emerging nations. Gillis received an invitation from the new Finance...
