CFA Mock Morning session Ethics Q2 thousands, anywhere, question

towardsutopia21

Explanation for the question states that writing “thousands clients” when he has a small client base is violation. But where does it say that he has small client base? I am not able to find that in the question anywhere.

bdavi77962

In the text, it is stated he has “several large retail bank”, so it is considered as a small client base and there is a violation of the Standard Misrepresentation.
It’s not explicit but we have to read each question really carefully, especially in ethics where all words count.

Dapper425

I read that but I couldn’t figure out several large client implies to small client base.

stalkey

Look at it like you are comparing teams… You have 3 fat guys on a team vs. 50 small guys on a team. Although the 3 fat guys are large it is still a small team. Although the 50 small guys are small they are still a larger team. So having a few large clients like 3 or 4 means you have a small team to work with.

WarrenB1

mb45 Wrote:
——————————————————-
> Look at it like you are comparing teams… You
> have 3 fat guys on a team vs. 50 small guys on a
> team. Although the 3 fat guys are large it is
> still a small team. Although the 50 small guys are
> small they are still a larger team. So having a
> few large clients like 3 or 4 means you have a
> small team to work with.
Makes sense! there wouldnt be too many large retail banks anyway