smartpants

hey there,
i spent the last day going over these same questions. what is great about the mock exam answer key is that they give you the corresponding pages in the cfa books to reference….
for question 1 afternoon…answer C is correct because even though newton disclosed to clients that only after a month they can receive of a hot issue or new security that doesn’t make it right. the key is the disclosure of inequitable allocation methods. I spent about 20 minutes tearing my hair out on this and the key is on the second to last line.. “this policy is disclosed to all existing and potenial clients”. If you see any question on the exam on June 5th that says anything about disclosure…just remember that disclosure doesn’t obsolve you from unfairly allocating shares. you can review this on page 55 in the cfa book…paragraph above recommended procedures for compliance
question 6 afternoon….totally agree. i would hope that during the review process of grading the exams the CFA institute would see that answer is totally misleading and throw that question out.
question 16… after reviewing all 3 answers, that is the only one that fits the criteria. obviously schulmberger didn’t violate misconduct..and record retention is only needed for giving investment advice for securities. when taking this question, i thought it was easy to get the info off the web (even though he didn’t provide the reference on his research report) and wouldn’t constitute a violation of record retention. lucky guess on that one
question 72…(actually 73) see page 52 in Corp Finance CFA book…its in the paragraph before example 7
a wise man once told me…..the devil is in the details!! CFA institute will be sure to test that on June 5th. EFF THE MAN!!!