QUESTIONS 1 THROUGH 18 RELATE TO ETHICAL AND PROFESSIONAL STANDARDS.
12. When Abdullah Younis, CFA, was hired as a portfolio manager at an asset management firm two
years ago, he was told he could allocate his work hours as he saw fit. At that time, Younis served
on the board of three non-public golf equipment companies and managed a pooled investment
fund for several members of his immediate family. Younis was not compensated for his board
service or for managing the pooled fund. Younis’ investment returns attract interest from
friends and co-workers who persuade him to include their assets in his investment pool. Younis
recently retired from all board responsibilities and now spends more than 80% of his time
managing the investment pool for which he charges non-family members a management fee.
Younis has never told his employer about any of these activities. To comply with the CFA
Institute Standards of Professional Conduct with regards to his business activities over the past
two years, Younis would least likely be required to disclose which of the following to his
employer?
A. Board activities
B. Family investment pool management
C. Non-family member management fees