QUESTIONS 1 THROUGH 18 RELATE TO ETHICAL AND PROFESSIONAL STANDARDS.

10. Eileen Fisher, CFA has been a supervisory analyst at SL Advisors for the past ten years.

Recently, one of her analysts was found to be in violation of the CFA Institute Standards

of Professional Conduct. Fisher has placed limits on the analyst's activities and is now

monitoring all of his investment activities. Although SL did not have any compliance

procedures up to this point, to avoid future violations, Fischer has put in place procedures

exceeding industry standards. Did Fisher most likely violate any CFA Institute Standards

of Professional Conduct?

A. Yes.

B. No, because she has taken steps to ensure the violations will not be repeated by the

analyst.

C. No, because she is taking steps to implement compliance procedures that are more

than adequate.