Reading 1- LOS B-Q24 should, border, following, statements, accordance

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In accordance with Standard III (A) Loyalty, Prudence and Care, which of the following statements is least accurate? Members and Candidates should:

A) submit to clients, at least quarterly, itemized statements detailing all of the period’s transactions.

B) make investment decisions in the context of the total portfolio.

C) vote all proxies on behalf of clients in a responsible manner.

D) utilize client brokerage to the sole benefit of the client.

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The correct answer was C

Because of the time and expense involved in voting a proxy, Members and Candidates are not required to vote every proxy. A cost benefit analysis can be performed to determine if it is necessary to vote a proxy.