Reading 03 III standards of professional conduct guidance duties to clients questions and answers
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Reading 03 III standards of professional conduct guidance duties to clients questions and answers
Reading 3-111: Standards of Professional Conduct & Guidance: Duties to ClientsQuestion #1 of 55Question 10:412409Which of the following is least likel Reading 03 III standards of professional conduct guidance duties to clients questions and answers ly required of fiducianes who are responsible for pension plans?X A) Judging investments in the context of the total portfolio./ B) Supporting the sponsor's management during proxy fights.X C) Acting solely in the interest of plan participants.ExplanationUnder standard lll(A) Loyalty. Prudence, and Reading 03 III standards of professional conduct guidance duties to clients questions and answers Care, fiduciaries must evaluate management's proposals during proxy fights to see if they are in the best interest of the plan participants. If manageReading 03 III standards of professional conduct guidance duties to clients questions and answers
ment's ideas are justifiable and reasonably ensure plan participants' betterment, then fiduciaries can support them. If management is only trying to fReading 3-111: Standards of Professional Conduct & Guidance: Duties to ClientsQuestion #1 of 55Question 10:412409Which of the following is least likel Reading 03 III standards of professional conduct guidance duties to clients questions and answers on From: Session 1 > Reading 3-III > LOS (A)Related Material:• Key Concepts by LOSQuestion #2 of 55Questton ID: 412439Carol Hull. CFA. is an investment advisor whose prospective client. Frank Peters, presents special requirements. To construct an investment policy statement for Peters. Hull inquires Reading 03 III standards of professional conduct guidance duties to clients questions and answers about Peters' investment experience, risk and return objectives, and financial constraints. Peters states that he has a great deal of investment expeReading 03 III standards of professional conduct guidance duties to clients questions and answers
rience in the capital markets and does not wish to answer questions about his tolerance for risk or his other holdings. Under standard lll(C), SuitabiReading 3-111: Standards of Professional Conduct & Guidance: Duties to ClientsQuestion #1 of 55Question 10:412409Which of the following is least likel Reading 03 III standards of professional conduct guidance duties to clients questions and answers age his portfolio to a benchmark or index.X C) must decline to enter into an advisory relationship with Peters.ExptanationHull would not violate Standard 111(C). Suitability, by managing Peters' account without knowledge of his risk preferences. She made a reasonable inquiry into Peters' investment Reading 03 III standards of professional conduct guidance duties to clients questions and answers experience, risk and return objectives, and financial constraints, as the Standard requires. If a client chooses not to provide some of this informatiReading 03 III standards of professional conduct guidance duties to clients questions and answers
on, the member or candidate can only be responsible for assessing the suitability of investments based on the information the client does provide.RefeReading 3-111: Standards of Professional Conduct & Guidance: Duties to ClientsQuestion #1 of 55Question 10:412409Which of the following is least likel Reading 03 III standards of professional conduct guidance duties to clients questions and answers tatements regarding allocating trades is CORRECT? It is permissible under the Standards to allocate trades:X A) based upon any method the firm deems suitable so long as the allocation procedure has been disclosed to all clients.X B) based upon compensation arrangements.•/ C) on a pro-rata basis over Reading 03 III standards of professional conduct guidance duties to clients questions and answers all suitable accountsExplanationIt is permissible to allocate trades on a pro-rata basis over all suitable accounts. It is not permissible to base alReading 03 III standards of professional conduct guidance duties to clients questions and answers
locations upon compensation arrangements. Any method is not necessarily suitable, and disclosure does not absolve the member from ensuring that the alReading 3-111: Standards of Professional Conduct & Guidance: Duties to ClientsQuestion #1 of 55Question 10:412409Which of the following is least likel Reading 03 III standards of professional conduct guidance duties to clients questions and answers of the following would be a violation of standard lll(B), Fair Dealing?Question 10:412415Reading 3-111: Standards of Professional Conduct & Guidance: Duties to ClientsQuestion #1 of 55Question 10:412409Which of the following is least likelGọi ngay
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