问题如下：
1. In his letter regarding the stock-selection model, does Vinken violate any CFA Institute Standards of Professional Conduct?
选项：
A. No.
B. Yes, because he uses simulated performance results.
C. Yes, because he claims that the new model will yield better performance results.
解释：
A is correct.
Vinken does not violate any CFA Standards of Professional Conduct in his letter. In accordance with Standard III(D) —Performance Presentation, he presents fair, accurate, and complete information when he identifies actual and simulated performance results. Also in accordance with the Standard, he does not guarantee superior future investment returns. In accordance with Standard V(B) —Communication with Clients and Prospective Clients, Vinken describes to his clients and prospective clients the process and logic of the new investment model. By providing the basic details of the model, Vinken provides his clients the basis for understanding the limitations or inherent risks of the investment strategy.
这个模型适合growth stock呀，那他现在想用在large capitalize equity 并写letter，虽然是详细证明，但是仅仅写了收益超过actual ，也没有写风险呀，而且grow stock模型为什么能适用large capitalize equity？明显不适合呀