QUESTIONS 1 THROUGH 18 RELATE TO ETHICAL AND PROFESSIONAL STANDARDS

1. - MOCK AND SAMPLE EXAMS CFA CFA LEVEL I MOCK EXAM AFTERNOON 2013
MOCK AND SAMPLE EXAMS CFA CFA LEVEL I MOCK EXAM AFTERNOON 2013
1. Carlos Cruz, CFA, is one of two founders of an equity hedge fund. Cruz manages the fund’s assets, and the other co-founder, Brian Burkeman, CFA, is responsible for fund sales and marketing. Cruz notices the most recent sales material used by Burkeman indicates assets under management are listed at a higher value than the current market value. Burkeman justifies the discrepancy by stating recent market declines account for the difference. In order to comply with the CFA Institute Standards of Professional Conduct, Cruz should least likely take which of the following actions? A. Correct the asset information and provide updates to prospective clients. B. Report the discrepancy to CFA Institute’s Professional Conduct Program. C. Provide a disclaimer within marketing material indicating prices are as of a specific date.