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NEW QUESTION: 1
Shirley Riley, CFA, has just been promoted, from vice president of trading to chief investment officer (CIO) at Crane & Associates, LLC (CA), a large investment management firm. Riley has been with CA for eight years, but she has much to learn as she assumes her new duties as CIO. Riley has decided to hire Denny Simpson, CFA, as the new compliance officer for CA, Riley and Simpson have been reviewing procedures and policies throughout the firm and have discovered several potential issues.
Communications with Clients
Portfolio managers are encouraged to communicate with clients on a regular basis. At a minimum, managers are expected to contact clients on a quarterly basis to review portfolio performance. Each client must have an investment policy statement (IPS) created when their account is opened, specifying the objectives and constraints for their portfolio. IPSs are reviewed at client request at any time. Any time market conditions dictate a change in the investment style or strategy of a client portfolio, the client is notified immediately by phone or email.
Employee Incentive Program
CA offers several incentive programs to employees. One of the most popular of these programs is the CA IPO program. Whenever CA is involved in an initial public offering (IPO), portfolio managers are allowed to participate. The structure is simple-for every 100 shares purchased on behalf of a client, the manager is awarded five shares for his own account. The manager is thus rewarded for getting an IPO sold and at the same time is able to share in the results of the IPO. Any¬time shares are remaining 72 hours before the IPO goes public, other employees are allowed to participate on a first-come, first-serve basis. Employees seem to appreciate this opportunity, but CA does not have exact numbers on employee participation in the program.
Private Equity Fund
CA has a private equity fund that is internally managed. This fund is made available only to clients with more than $5 million in assets managed by CA, a policy that is fully disclosed in CA's marketing materials.
Roughly one-third of the fund's assets are invested in companies that are either very small capitalization or thinly traded (or both). The pricing of these securities for monthly account statements is often difficult. CA support staff get information from different sources-sometimes using third party services, sometimes using CA valuation models. In some instances, a manager of the private equity fund will enter an order during the last trading hour of the month to purchase 100 shares of one of these small securities at a modest premium to the last trade price. If the trade gets executed, that price can then be used on the account statements. The small size of these trades does not significantly affect the fund's overall position in any particular company holding, which is typically several thousand shares.
Soft Dollar Usage
Several different managers at CA use independent research in developing investment ideas. One of the more popular research services among CA managers is "Beneath the Numbers (BTN)," which focuses on potential accounting abuses at prominent companies. This service often provides early warnings of problems with a stock, allowing CA managers the opportunity to sell their clients' positions before a negative surprise lowers the price. Stocks covered by BTN are typically widely held in CA client accounts.
Managers at CA have been so happy with BTN that they have also subscribed to a new research product provided by the same authors-"Beneath the Radar (BTR)." BTR recommends small capitalization securities that are not large enough to attract much attention from large institutional investors. The results of BTR's recommendations are mixed thus far, but CA managers are willing to be patient.
As they discuss these issues, Riley informs Simpson that she is determined to bring CA into full compliance with the CFA Institute's "Asset Manager Code of Professional Conduct." The following questions should be answered with the Asset Manager Code as a guide.
Indicate whether CA's policies related to investment policy statement (IPS) reviews and notification of changes in investment style/strategy are consistent with the Asset Manager Code of Professional Conduct.
A. Both policies are inadequate.
B. Both policies are consistent with the Asset Manager Code of Professional Conduct.
C. The IPS review policy is adequate, but the policy on communicating changes in style / strategy is inadequate.
Answer: A
Explanation:
Explanation/Reference:
Explanation:
The IPS review policy is inadequate. It is good that IPS are reviewed at any lime upon client request, but it is also likely that clients may be unaware of when such a review might be appropriate. It is incumbent upon the manager 10 initiate a review of the client's IPS. The Asset Manager Code recommends such reviews on an annual basis, or whenever changes in client circumstances justify them. The notification of changes in style/strategy is also inadequate. Such notification should be made in advance, so that the client has time to consider the change and react accordingly. (Study Session 2, LOS 6.b)
Topic 6, Corporate Finance

NEW QUESTION: 2

whoami;who am i;id


A. Option C
B. Option D
C. Option A
D. Option B
Answer: D
Explanation:
* The whoami utility displays your effective user ID as a name.
Here this would be root.
* who am i
The command who shows who is logged on.
Here this would be:
user1 console Dec 30 20:20
* The id utility displays the user and group names and numeric IDs, of the calling process, to the standard output. If the real and effective IDs are different, both are displayed, otherwise only the real ID is displayed.
Here this would be:
uid=0(root) gid=0(root)
Note:
Each UNIX proces has 3 UIDs associated to it. Superuser privilege is UID=0.
Real UID
--------
This is the UID of the user/process that created THIS process. It can be changed only if the running process has EUID=0.
Effective UID
-------------
This UID is used to evaluate privileges of the process to perform a particular action. EUID can be change either to RUID, or SUID if EUID!=0. If EUID=0, it can be changed to anything.
Saved UID
---------
If the binary image file, that was launched has a Set-UID bit on, SUID will be the UID of the owner of the file. Otherwise, SUID will be the RUID.

NEW QUESTION: 3
회사 CFO는 최근 회사의 AWS 월별 청구서를 분석하고 사용중인 AWS Elastic Beanstalk 환경의 비용을 줄일 수있는 기회를 확인했습니다. CFO는 솔루션 아키텍트에게 아침에 Elastic Beanstalk 환경을 가동시키고 하루가 끝날 때이를 종료 할 고 가용성 솔루션을 설계하도록 요청했습니다.
솔루션은 운영 오버 헤드를 최소화하고 비용을 최소화하도록 설계해야 합니다. 또한 서로 다른 팀간에 Elastic Beanstalk 환경의 증가 된 사용을 처리 할 수 있어야 하며 운영 비용을 낮게 유지하려면 모든 팀에 원 스톱 스케줄러 솔루션을 제공해야 합니다.
이러한 요구 사항을 충족시키는 디자인은 무엇입니까?
A. 시간 기반 Auto Scaling 그룹을 구성합니다. 오전에 Auto Scaling 그룹이 Amazon EC2 인스턴스를 확장하고 EC2 인스턴스 사용자 날짜에 Elastic Beanstalk 환경 시작 명령을 넣도록합니다. 하루가 끝나면 인스턴스 번호를 0으로 축소하여 EC2 인스턴스를 종료합니다.
B. Elastic Beanstalk 환경을 시작 및 중지하는 AWS Lambda 함수를 개발하십시오. Elastic Beanstalk 환경 시작 / 중지 권한을 부여하는 Lambda 실행 역할을 구성하고 역할을 Lambda 함수에 할당합니다. Lambda 함수를 트리거하도록 cron 표현식 Amazon CloudWatch Events 규칙을 구성하십시오.
C. Linux EC2 Micro 인스턴스를 설정하십시오. Elastic Beanstalk 환경을 시작 및 중지 할 수 있도록 IAM 역할을 구성하고 인스턴스에 연결합니다. 인스턴스에서 스크립트를 생성하여 Elastic Beanstalk 환경을 시작 및 중지합니다. 스크립트를 실행하도록 인스턴스에서 cron 작업을 구성하십시오.
D. 시작 및 중지 시간을 제어하기 위해 "wait"유형으로 AWS Step Functions 상태 머신을 개발하십시오.
활동 작업을 사용하여 Elastic Beanstalk 환경을 시작 및 중지하십시오. 단계 함수가 Elastic Beanstalk 환경을 시작 및 중지 할 수 있도록 역할을 작성하십시오. 매일 단계 함수를 호출하십시오.
Answer: B
Explanation:
https://aws.amazon.com/premiumsupport/knowledge-center/schedule-elastic-beanstalk-stop- restart/