Valery isinterviewed by the FC church to manage the retirement plan’s equity portfoliobased on her superior return history. For the retirement plan’s equity portfolio, each church staff memberchooses whether to opt in or out of the retirement plan based on his or her owninvestment objectives. Given the objectives and constraints of the portfolio, theplan trustees tell Valery that stocks of companies involved in the sale ofalcohol, tobacco, gambling, or firearms are not acceptable investments. Withthese restrictions, Valery tells the trustees he cannot reasonably execute hisstrategy By agreeing to manage the account according to the trustees' wishes,does Valery violate the CFA Institute Standards of Professional Conduct?

 

　　A.       Yes, becausethe manager was hired based on her previous investment strategy

 

　　B.       Yes, becausethe restrictions provided by the trustees are not in the best interest of themembers

 

　　C.       No

 

　　【答案】 A

 

　　According to StandardIII(A): Loyalty, Prudence, and Care, Valery's duty of loyalty, prudence, andcare is owed to the participants and beneficiaries (members) of the pensionplan. As a church plan, the restrictions are appropriate given the objectivesand constraints of the portfolio.

 

　　CFA Level I

 

　　"Guidance forStandards I–VII," CFA Institute

 

　　Standard III(A): Loyalty,Prudence, and Care

CFA精品網(wǎng)課	課程專業(yè)名稱	講師	試聽
3455人正在學習該門課程	CFA全維度高清網(wǎng)課體驗課程 全維度高清實景課堂與錄影棚高清獨立錄制 針對CFA協(xié)會考綱，逐點精講，幫助考生全面掌握CFA課程及考點	Anky 高頓名師
80%的人選擇了該門課程	CFA任務(wù)制網(wǎng)課（全科）(8.3折) 學員可以靈活選擇報讀CFA課程 自主地掌握學習的進度 享受更多的學習優(yōu)惠與增值服務(wù)	Remmy 高頓名師