Q13. Which of the following statements about soft dollars is TRUE? A) Fiduciaries must disclose actual, but not potential, conflicts of interest. B) Items purchased with soft dollars must provide a benefit to the firm. C) Items purchased with soft dollars must provide a benefit to the client.
Q14. Carl Johnson, a large equity client of Madison Investment Advisors, directs Madison to pass along old copies of any research purchased with soft dollars generated by trades in his account to his friend Jacob Wisnewski. Madison receives about ten such reports per year, and, after these have been reviewed in the context of their relevance to Johnson’s account, they are forwarded on to Wisnewski. With regard to this procedure, which of the following statements is TRUE? The research: A) provides a benefit to Johnson and may be released to Wisnewski with the permission of the source. B) does provide a benefit to Johnson but may not be released to Wisnewski with or without the permission of the source. C) does not provide a benefit to Johnson but may be released to Wisnewski with the permission of the source.
Q15. Which of the following is one of the four requirements for meeting fiduciary obligations with regard to soft dollar arrangements? Investment managers must: A) avoid agency relationships. B) minimize transactions costs. C) seek the best price and execution.
Q16. Which of the following is one of the four requirements for meeting fiduciary obligations with regard to soft dollar arrangements? Items purchased with soft dollars must: A) provide a benefit to the client. B) provide a benefit to the firm. C) provide at least 50% of their benefits to the client.
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发表于 2009-1-7 11:11
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