问题如下：
1. In his letter regarding the stock-selection model, does Vinken violate any CFA Institute Standards of Professional Conduct?
选项：
A.No.
B.Yes, because he uses simulated performance results.
C.Yes, because he claims that the new model will yield better performance results.
解释：
A is correct.
Vinken does not violate any CFA Standards of Professional Conduct in his letter. In accordance with Standard III(D) —Performance Presentation, he presents fair, accurate, and complete information when he identifies actual and simulated performance results. Also in accordance with the Standard, he does not guarantee superior future investment returns. In accordance with Standard V(B) —Communication with Clients and Prospective Clients, Vinken describes to his clients and prospective clients the process and logic of the new investment model. By providing the basic details of the model, Vinken provides his clients the basis for understanding the limitations or inherent risks of the investment strategy.
请教下老师，答案中最后一句话，说提供了inherent risks of the investment strategy, 但是我在原文case中没又看到risks、volatility之类的描述，能否帮忙指明一下？
