5. A CFA Candidate, who is an investment bank equity analyst writes a research
report on an oil company recommending a buy. After reviewing the report and
not seeing any disclosures a pension fund manager asks the analyst if the
investment bank is currently undertaking any corporate finance activity with this
oil company. The analyst states that the investment bank is presently not working
with the oil company but has done so in the past. The analyst does not mention or
include in the research report, that she is related to the majority shareholder of the
investment bank and that she owns shares in the oil company. According to the
Standards of Practice Handbook, the analyst is least likely to have violated the
CFA Institute Standards of Professional Conduct that relates to:
A. Disclosure of Conflicts.
B. Independence and Objectivity.
C. Additional Compensation Arrangements.
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