问题如下图：
选项：
A. 
B. 
C. 
解释：
发亮_品职助教 · 2018年06月19日
这个Commission就是指给经纪公司的费用。可以理解成Brokerage commissions是交易费用。
刚那道题解释了Commission的关系，这边在说一下，黑体是针对这道题新添的内容：
Asset manager替客户管理资产，账户里的钱是客户的，交易费用也是出自客户的账户；但是交易时，大部分情况是asset manager选择dealer或者broker执行下单交易。选择的标准就是best execution、fees合理等等，总之就是最有利于客户，和投资。
所以这个选择dealer的权利在投资经理。
但是dealer的费用可能不同，有的高有的低。再他们都提供best execution的情形下：
比如A收100元，B收120元。B高的这20元就是soft dollar。
选择B做交易，并且多付了这20元的原因只能是B能提供其他服务，这些服务能有利于为投资者做投资，如提供research等。
如果这贵出来的20元是给了投资经理回扣、或者提供了咨询服务，但是这种服务不是用于该客户的，那就是使用了客户的钱，满足了其他目的，属于违反。就是C说的情况。所以客户多掏了钱（soft dollar），一定只能服务于该客户的投资。
当然投资者也可以自己指定dealer，如dealer C收的是105元。这就是情况A，这也是可以的。
NO.PZ2016032801000002 问题如下 Whistatement about a manager’s use of client brokerage commissions violates the Co anStanr? A.A client mrea manager to use thclient’s brokerage commissions to purchase goo anservices for thclient. B.Client brokerage commissions shouluseto benefit the client anshoulcommensurate with the value of the brokerage anresearservices receive C.Client brokerage commissions mrecteto pfor the investment manager’s operating expenses. C is correct.This question involves StanrIII(–Loyalty, Prunce, anCare anthe specific topic of soft llars or soft commissions. Answer C is the correchoibecause client brokerage commissions mnot recteto pfor the investment manager’s operating expenses. Answer B scribes how members ancantes shoultermine how to use brokerage commissions — this, if the use is in the best interests of clients anis commensurate with the value of the services proviAnswer A scribes a practithis commonly referreto \"rectebrokerage.\"Because brokerage is asset of the client anis useto benefit the client, not the manager, supracties not violate a ty of loyalty to the client. Members ancantes are obligatein all situations to sclose to clients their practices in the use of client brokerage commissions. RT
NO.PZ2016032801000002 问题如下 Whistatement about a manager’s use of client brokerage commissions violates the Co anStanr? A.A client mrea manager to use thclient’s brokerage commissions to purchase goo anservices for thclient. B.Client brokerage commissions shouluseto benefit the client anshoulcommensurate with the value of the brokerage anresearservices receive C.Client brokerage commissions mrecteto pfor the investment manager’s operating expenses. C is correct.This question involves StanrIII(–Loyalty, Prunce, anCare anthe specific topic of soft llars or soft commissions. Answer C is the correchoibecause client brokerage commissions mnot recteto pfor the investment manager’s operating expenses. Answer B scribes how members ancantes shoultermine how to use brokerage commissions — this, if the use is in the best interests of clients anis commensurate with the value of the services proviAnswer A scribes a practithis commonly referreto \"rectebrokerage.\"Because brokerage is asset of the client anis useto benefit the client, not the manager, supracties not violate a ty of loyalty to the client. Members ancantes are obligatein all situations to sclose to clients their practices in the use of client brokerage commissions. 如题
老师我想问问a，客户让manager用佣金买goo anservices给自己不违反，这相当于是买什么都行吗？ 感觉这条好无厘头。。
这道题是选非题对吧？就是其实c这样说不可以的？
不好意思，问道自己找到的习题，第50题，请问这道题为啥没有违背呢？