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Stiles Corporation is most accurate?
Johnny Bracco, CFA, is a portfolio manager in the trust department of Canada National (CNL) in Toronto. CNL is a financial conglomerate with many divisions. In addition to the trust department, the firm sells financial products and has a research department, a trading desk, and an investment banking division. Part...
In her marketing brochure, did Mackley violate any CFA Institute Standards of Professional Conduct in her reference to her investment performance or her reference to the CFA Program?
Stephanie Mackley is a portfolio manager for Durango Wealth Management (DWM), a regional money manager catering to wealthy investors in the southwestern portion of the United States. Mackley's clients vary widely in terms of their age, net worth, and investment objectives, but all must have at least $1 million in...
According to CFA Institute Standards of Professional Conduct, which of the following statements related to Green's investment recommendation to the large institutional client is TRUE?
The firm must increase the level of review or restriction of proprietary trading activities during periods in which the firm has knowledge of information that is both material and nonpublic. Bentley has identified two of Green's analysts, neither of whom have non-compete contracts, who are preparing to leave Federal Securities...
Harold Chang, CFA, has been the lead portfolio manager for the Woodlock Management Group (WMG) for the last five years. WMG runs several equity and fixed income portfolios, all of which are authorized to use derivatives as long as such positions are consistent with the portfolio's strategy. The WMG Equity Opportunities Fund takes advantage of long and short profit opportunities in equity securities. The fund's positions are often a relatively large percentage of the issuer's outstanding shares and fund trades frequently move securities prices. Chang runs the Equity Opportunities Fund and is concerned that his performance for the last three quarters has put his position as lead manager in jeopardy. Over the last three quarters, Chang has been underperforming his benchmark by an increasing margin and is determined to reduce the degree of underperformance before the end of the next quarter.
Harold Chang, CFA, has been the lead portfolio manager for the Woodlock Management Group (WMG) for the last five years. WMG runs several equity and fixed income portfolios, all of which are authorized to use derivatives as long as such positions are consistent with the portfolio's strategy. The WMG Equity...
The firm must increase the level of review or restriction of proprietary trading activities during periods in which the firm has knowledge of information that is both material and nonpublic.
The firm must increase the level of review or restriction of proprietary trading activities during periods in which the firm has knowledge of information that is both material and nonpublic. Bentley has identified two of Green's analysts, neither of whom have non-compete contracts, who are preparing to leave Federal Securities...
Which of BentJey's recommendations regarding the key characteristics of a firewall are inconsistent with those recommended by CFA Institute Standards of Professional Conduct?
The firm must increase the level of review or restriction of proprietary trading activities during periods in which the firm has knowledge of information that is both material and nonpublic. Bentley has identified two of Green's analysts, neither of whom have non-compete contracts, who are preparing to leave Federal Securities...
Of the three scenarios (see Figure 2) presented to the Beeman Enterprises executives, which would represent the appropriate reaction to increasing the pension plan allocation to equity, if management wishes to maintain its current equity beta?
“The GIPS general provisions for real estate and for private equity require that both income and capital gains are included in the calculation and presentation of returns." Of the three scenarios (see Figure 2) presented to the Beeman Enterprises executives, which would represent the appropriate reaction to increasing the pension...
Shirley Riley, CFA, has just been promoted, from vice president of trading to chief investment officer (CIO) at Crane & Associates, LLC (CA), a large investment management firm. Riley has been with CA for eight years, but she has much to learn as she assumes her new duties as CIO. Riley has decided to hire Denny Simpson, CFA, as the new compliance officer for CA, Riley and Simpson have been reviewing procedures and policies throughout the firm and have discovered several potential issues.
Shirley Riley, CFA, has just been promoted, from vice president of trading to chief investment officer (CIO) at Crane & Associates, LLC (CA), a large investment management firm. Riley has been with CA for eight years, but she has much to learn as she assumes her new duties as CIO....
Were any CFA Institute Standards of Professional Conduct violated in conjunction with Welch's report on InnerTech and Mackley's purchase of InnerTech stock?
Stephanie Mackley is a portfolio manager for Durango Wealth Management (DWM), a regional money manager catering to wealthy investors in the southwestern portion of the United States. Mackley's clients vary widely in terms of their age, net worth, and investment objectives, but all must have at least $1 million in...
Before implementing risk management techniques, Smitherspoon expresses confusion regarding some measures of risk management. "I know beta and standard deviation, but what is all this stuff about convexity, delta, gamma, and vega?
Mark Stober, William Robertson, and James McGuire are consultants for a regional pension consultancy. One of their clients, Richard Smitherspoon, chief investment officer of Quality Car Part Manufacturing, recently attended a conference on risk management topics for pension plans. Smitherspoon is a conservative manager who prefers to follow a long-term...
