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1、CFALevel11Questions#1-6of60Questions61through66relatetoEthicalandProfessionalStandards.BlueLotusLPCaseScenarioMikaleNatschavin,CEAfisthemanagingdirectorofBlueLotusLP,aboutiqueinvestmentbankspecializinginM&Aconsultingintheprofessionalservicesarena.BlueLotusalsomanagesafund(Xetafund)forseveralinstitut
2、ionalclientsThefundwasrunbyateamoffourmanagers.Duringtherecentdownturn,commensu,atewiththedeclineinthesizeofthefund,BlueLotusdownsizedthefirm.PaulVakilCFA,oneofthemanagersofXeta,waslaidffbyBlueLotusDuringhisexitinterviewNatschavinwishedVakilwelland,onbehalfofthefirm,gavehimpermissiontouseXetafundspa
3、stperformancewhenseekingnewemploymentopportunitiesVakilincludedtheperformanceofthefundtodemonstratehissuccessbutdidnotgiveanyindicationofateamapproach.VakilalsodidnotmentiontoNatschavinorthepersonnelmanagerthathewasstiHinpossessionofthecompany4ssuedlaptop.Vakilhadstaredseveralraodelstheteamhaddevelo
4、pedinpursuinginvestmentstrategiesonthatlaptopsharddiskWithinafewmonths,VakiljoinedtheequityresearchdepartmentofPatarsbyandSingly,abrokeragefirm.Vakil,WiththehelpofaqantspecialistatPatarsby,impiovedthemodelsandstartedusingtheminhisnewroleThingstu,nedoutverywellfcrVakilatPatarsby,andclientswaitedeager
5、lyforreleaseofhismonthlyrecommendatios.Duringasocietyevent,VakilranintoAliaDutt,CFA,oneoftheotherteammanagersofXetafund.DuttcongratulatedVakilLaterintheevening,VakilspoketoDuttaboutoneofthecompaniesheisfollowingSandhirst,Inc.VakiJstatedthathisreliinaryresearchindicatesthattheShOnrennoutlookforSandhi
6、rstisverypromising.DuttalsometNeilSavin,Erapco,InC.scontrollerattheeventFrapcoisanationalgrocerychainandalong-timeclientfBlueLotus.SavininformedDuttthatthenewlayoutinthestareshasbeenahitandthatheexpectsrevenuesandearningsforthecurrentquartertobewellaboveconsensusforecastThenextday,DuttplacedaIargeor
7、derforSandhirststockfortheXetafund.DuttalsoplacedalrgeorderforaretailETF.Duttisamemberofanonlineforumwhereshediscussesinvestmentsunderapseudonym.Dutthasfcrmedaveryloyalfollowingovertimeasothersrealizedthatherpostswereveryarticulateand,therefore,theworkofarofessionaLDuttrecommendedFrapcostockinthefau
8、mbutattibutedtherecommendationtoageneraluptickingrocerystoremarginsnationwideaknownfactbasedonrecentearningsannouncementsofothergrocers.Thefallowingweekatacharitygolftournament,VakilmetwithBobSnead,hiscollegeroommateSneadwasaverysuccessfulhedgefundmanagerBothofthefundsrunbySmeadwerecurrentlyclosedto
9、newinvestment,thoughSneadwasconsideringreopeningtheinvestmentsinthenearfuturAtVakilsinsistence,SneadagreedtoallownewinvestmentsintothetwofundsusinganewlystartedintermediaryftndaslongasVakilisthefuncSmanagerVakilquicklyconvincedhisbossesatPatarsbytoopenanintermediaryfindandmarketedthefundtoexistingPa
10、tarsbyclientsQuestion ID: 1220609most accurate regardingQuestion ID: 1220610Question ID: 1220611Q uestion ID: 1220612asawayintoSneadhedgefunds.NotknowinghowlongthedealwithSneadwouldholdup,andwantingtoquicklyrampupassetsundermanagement,VakilaccepteddepositsfromallPatarsbyclients,evensomethatwererelat
11、ivelynewaccountsQuestion#1of60RegardingVakiIsreferencetoXetafundsperformanceinhisresume,whichofthefollowingiscompliancewiththeCodeandStandards?Vakilviolated:A)StandardI11(D)-PerformancePresentationB)StandardIV（八）-DutiestoEmployer:Loyalty.C)StandardHID-PerfonnancePresentationaswellasStandardIV（八）-Dut
12、iestoEmployer:Loyalty;Question#2of60VakifsuseoftheBlueLotusmodelsatPatarsbyisleastIikelytobeaviolationunder：A)StandardI(C)-Professionalism:Misrepresentation.B)Standar*dIl（八）-IntegrityofCapitalMarkets:MaterialNonpublicInformation.C)StandardTV（八）DutiestoEmployer:IQyHItyQuestion#3of60VakiTsconversation
13、withDuttregardingSandhirststockismostlikelyaviolationof:A)StandardIV（八）-DutiestoEmployer:Loyalty.B)Standard11（八）-IntegrityofCapitalMarkets:MaterialNonpublicInformationC)Standard11T(C)-DutiestoClients:Suitability.Question#4of60WithregardstoinvestmeritsinSandhirstStoCkandretailETF,DUtt勿OSflikelyviolat
14、ed:A)StandardU（八）MaterialandNonpublicInformationbyinvestinginSandhirststockbutnotbyinvestingintheretailETEB)Standard11（八）-MciterialandNonpublieInformationbyinvestingintheretailETFbutnotbyinvestinginSandhirststock.C)StandardIl（八）-MaterialandNonpublicInformationinbothinstances.DutfsrecommendationOfFra
15、PCostockintheordineforumismostlikely.A)adolationofStandaidII（八）-MaterialandNonpublicInfoimationeventhoughsheattributedtherecommendationtopubliclyavailableinformation.B)notaviolationunderStandard11（八）-MaterialandNonpublicInformation.C)dolationofStandardI11O:PreservationofConfidentialityQuestion#6of60
16、QuestionID:1220614VakiIsconductregardingtheintermediaryfundtochannelinvestmentsintoSneadfundsismostlikelyaviolationunder:A)Standar*d11(B)IntegrityofCapitalMarkets:MarketManiulation.B)StandardUI(D)DutiestoClients:SuitabilityC)StandardI11(D)DutiestoClients:FairDealing.Questions#7-12of60Questions67through72relatetoQuantitativeMethods.KateSavyerCaseScenarioResearchassociateKat
