框架图上面在Communication with Clients写了要区分fact和Opinion，用的例子就是halo eff

问题如下：

Willier is the research analyst responsible for following Company X. All the information he has accumulated and documented suggests that the outlook for the company’s new products is poor, so the stock should be rated a weak "hold." During lunch, however, Willier overhears a financial analyst from another firm whom he respects offer opinions that conflict with Willier’s forecasts and expectations. Upon returning to his office, Willier releases a strong "buy" recommendation to the public. Willier:

选项：

A.

Violated the Standards by failing to distinguish between facts and opinions in his recommendation.

B.

Violated the Standards because he did not have a reasonable and adequate basis for his recommendation.

C.

Was in full compliance with the Standards.

解释：

B is correct.

This question relates to Standard V(A) –Diligence and Reasonable Basis. The opinion of another financial analyst is not an adequate basis for Willier’s action in changing the recommendation. Answer C is thus incorrect. So is answer A because, although it is true that members and candidates must distinguish between facts and opinions in recommendations, the question does not illustrate a violation of that nature. If the opinion overheard by Willier had sparked him to conduct additional research and investigation that justified a change of opinion, then a changed recommendation would be appropriate.