L1 afternoon mock, question 12 gives three standards and asks which one is least likely violated relating to Standard V: Investment Analysis, Recommendation and Actions.
It’s clear that the person probably has broken his supervisory duties but the question was not about that; it was about which standard was least likely broken related to Standard V.
For me, the only logical reply would be (a) supervisory responsibility because it is not part of Standard V. Of course, one could say that the standard is actually called ‘Responsibilities of Supervisors’ and not ‘supervisory responsibility’ but using that argument, (a) would still be correct since there is no such standard so how could it be violated.
What’s your opinion on this one?作者: bigredhockey55 时间: 2013-3-30 20:30
The question asked, which standard related to Investment Analysis, Recommendation and Actions is least likely violated?
The only two pertaining to standard V is Communication with Clients and Diligence and Reasonable basis. Of those two she is least likely in violation of Diligence and Reasonable basis because top-down bottom-up are still conducted with diligence and are based on solid methods. The supervisory responsibilities are not included in standard V and I feel they were in there to throw the person off. I think people look too much into the question.作者: Rasec 时间: 2013-3-30 20:30
Thanks, it makes sense actually, now that you explained it ;-)
