QUESTIONS 1 THROUGH 18 RELATE TO ETHICAL AND PROFESSIONAL STANDARDS.
11. Danielle Deschutes, CFA, is a portfolio manager who is part of a 10-person team that manages
equity portfolios for institutional clients. A competing firm, South West Managers, asks
Deschutes to interview for a position within its firm and to bring her performance history to the
interview. Deschutes receives written permission from her current employer to bring the
performance history of the stock portfolio with her. At the interview, she discloses that the
performance numbers represent the work of her team and describes the role of each member.
To bolster her credibility, Deschutes also provides the names of institutional clients and related
assets constituting the portfolio. During her interview Deschutes most likely violated the CFA
Institute Standards of Professional Conduct with regards to:
A. the stock portfolio’s performance history.
B. her contribution to the portfolio’s returns.
C. providing details of the institutional clients.