NO.PZ2016040303000012
问题如下：
The mosaic theory holds that an analyst:
选项：
A. Violates the Code and Standards if the analyst fails to have knowledge of and comply with applicable laws.
B. Can use material public information and nonmaterial nonpublic information in the analyst’s analysis.
C. Should use all available and relevant information in support of an investment recommendation.
解释：
B is correct.
This question deals with Standard II(A) –Material Nonpublic Information. The mosaic theory states that an analyst may use material public information and nonmaterial nonpublic information in creating a larger picture than shown by any individual piece of information and the conclusions the analyst reaches become material only after the pieces are assembled. Answers A and C are accurate statements relating to the Code and Standards but do not describe the mosaic theory.
老师，麻烦翻译答案第二句话。另外，答案说C选项本身正确，但如果C说的信息包括内幕信息呢？