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NEW QUESTION: 1
Institutional Investments is a fund management firm that provides investment advice as well as investment management to large client accounts. I.I.'s senior portfolio manager, Richard Fineman's cousin, Alberto Onestone, runs a small brokerage firm. Fineman has directed all of his junior portfolio managers to execute their trades with Alberto. Alberto's fees are higher than those available from discount brokers but Alberto provides Fineman and his managers a wealth of investment tips that he hears on the street. This helps Fineman in producing a successful investment newsletter. This helps enhance I.I.'s reputation, attracting new clients and allowing lower fees on all the accounts. Since the client accounts benefit from this arrangement, Fineman's managers do not think the practice is unethical. The relationship between Fineman and Onestone is not explicitly disclosed to the clients. You are currently interviewing with them for the position of a portfolio analyst. As a CFA Level I candidate, they portray the above situation as a hypothetical case and ask you if there are any violations of the AIMR code of Ethics that they have heard about. Your response should be which of the following?
I. Fineman and his managers are violating Standard IV (B.1) - Fiduciary Duties since they are not executing the trades at the lowest price available.
II. Fineman and his managers are violating Standard IV (B.1) - Fiduciary Duties since they are using client brokerage to pay for services that do not directly benefit them.
III. Fineman and his managers are violating Standard IV (B.7) - Disclosure of Conflicts to Clients and Prospects.
IV. Fineman and his managers are not violating the Code as far as you can tell from the details given.
A. II only
B. II and III only
C. IV only
D. I, II and III
Answer: B
Explanation:
Explanation/Reference:
Explanation:
By not revealing the relationship between Fineman and Onestone - which is clearly a source of conflict of interest - the managers of Institutional Investors are in violation of Standard IV (B.7) - Disclosure of Conflicts to Clients and Prospects. Further, while there is a symbiotic relationship between I.I. and Onestone to the extent that both the parties gain, the clients who pay higher brokerage lose. Even though the practice leads to lower fees, it is not clear that the clients get benefits worth the cost incurred on their accounts. Further, there is a clear sense of impropriety in the setup. Unless the excess brokerage directly benefits the client accounts, this case is a violation of Standard IV (B.1) - Fiduciary Duties.
NEW QUESTION: 2
Which of the following statements about this S3 bucket policy is true?
A. Grants all the servers within the 192 168 100 188/32 subnet full access to the "mybucket" bucket
B. Denies the server with the IP address 192 168 100 0 full access to the "mybucket" bucket
C. Grants all the servers within the 192 168 100 0/24 subnet full access to the "mybucket" bucket
D. Denies the server with the IP address 192 168 100 188 full access to the "mybucket" bucket
Answer: D
NEW QUESTION: 3
Which two 802.1x features can you enable by running the IOS authentication priority command? (Choose
two.)
A. MAC authentication bypass
B. forced authorized port state
C. automatic selection
D. Telnet authentication
E. Web authentication
Answer: A,E
NEW QUESTION: 4
Customer software requirements are an attribute of a:
A. Product / Service
B. Metric
C. Architecture
D. Process
Answer: A
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