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NEW QUESTION: 1
Martha Gillis, CFA, trades currencies for Trent, LLC. Trent is one of the largest investment firms in the world, and its foreign currency department trades more currency on a daily basis than any other firm. Gillis specializes in currencies of emerging nations.
Gillis received an invitation from the new Finance Minister of Binaria, one of the emerging nations included in Gillis's portfolio. The minister has proposed a number of fiscal reforms that he hopes will help support Binaria's weakening currency. He is asking currency specialists from several of the largest foreign exchange banks to visit Binaria for a conference on the planned reforms. Because of its remote location, Binaria will pay all travel expenses of the attendees, as well as lodging in government-owned facilities in the capital city. As a further inducement, attendees will also receive small bags of uncut emeralds (as emeralds are a principal export of Binaria), with an estimated market value of $500.
Gillis has approximately 25 clients that she deals with regularly, most of whom are large financial institutions interested in trading currencies. One of the services Gillis provides to these clients is a weekly summary of important trends in the emerging market currencies she follows. Gillis talks to local government officials and reads research reports prepared by local analysts, which are paid for by Trent.
These inputs, along with Gillis's interpretation, form the basis of most of Gillis's weekly reports.
Gillis decided to attend the conference in Binaria. In anticipation of a favorable reception for the proposed reforms, Gillis purchased a long Binaria currency position in her personal account before leaving on the trip. After hearing the finance minister's proposals in person, however, she decides that the reforms are poorly timed and likely to cause the currency to depreciate. She issues a negative recommendation upon her return. Before issuing the recommendation, she liquidates the long position in her personal account but does not take a short position.
Gillis's supervisor, Steve Howlett, CFA, has been reviewing Gillis's personal trading. Howlett has not seen any details of the Binaria currency trade but has found two other instances in the past year where he believes Gillis has violated Trent's written policies regarding trading in personal accounts.
One of the currency trading strategies employed by Trent is based on interest rate parity. Trent monitors spot exchange rates, forward rates, and short-term government interest rates. On the rare occasions when the forward rates do not accurately reflect the interest differential between two countries, Trent places trades to take advantage of the riskless arbitrage opportunity. Because Trent is such a large player in the exchange markets, its transactions costs are very low, and Trent is often able to take advantage of mispricings that are too small for others to capitalize on. In describing these trading opportunities to clients, Trent suggests that "clients willing to participate in this type of arbitrage strategy are guaranteed riskless profits until the market pricing returns to equilibrium." According to CFA Institute Standards of Professional Conduct, Howlett's best course of action with regard to the suspected violations by Gillis would be to:
A. warn Gillis to cease the trading activities and report the violation to Howlett's supervisor immediately.
B. meet with Gillis in person, explain the nature of the violations, and seek assurances that such violations will not recur.
C. place limits on Gillis's personal trading and increase monitoring of Gillis's personal trades.
Answer: C
Explanation:
Explanation/Reference:
Explanation:
Standard 1(A). Warning Gillis and/or reporting the violation up Trout's management structure are inadequate solutions. Limiting the trading activity and increased monitoring to prevent future violations are more appropriate initial responses, in accordance with Standard 1(A) Professionalism - Knowledge of the Law. (Study Session l,LOS2.a)

NEW QUESTION: 2
From where to do MSE password recovery?
Answer:
Explanation:
MSE cli

NEW QUESTION: 3
展示を参照してください。

これらの2つの直接接続されたネイバー間にEBGPネイバーシップを確立し、BGPを介して2つのルーターのループバックネットワークを交換する構成はどれですか。
A）

B）

C）

D）

A. オプションC
B. オプションB
C. オプションD
D. オプションA
Answer: D