NO.PZ201604030300004102
问题如下：
2. With respect to the commodities positions, which of the following actions best describes Black’s violation of the CFA Institute Standards of Professional Conduct? Black violated CFA Institute Standards by:
选项：
A.buying an asset class in which she has no prior management experience.
B.buying assets that are inconsistent with the portfolio’s Investment Policy Statement.
C.failing to notify the client that she would temporarily deviate from the client’s Investment Policy Statement.
解释：
B is correct.
Under no circumstances should a manager take investment action that is inconsistent with the client’s IPS.
王老师，题干这句话“ Locke is evaluating the activity of Niagara Growth Managers (NGM), a local money manager allocated 10 percent of the Fund’s assets. He realizes that any reduction in the allocation to this local manager will be met with considerable political pressure. The investment policy statement (IPS) for NGM’s portion of the Fund’s assets states that NGM is to actively manage an equity portfolio of local small-cap, high-tech companies.“ 该怎么理解啊？ 读不懂
