问题如下：
3. When instructing Grohl to eliminate the multi-factor analysis from the research report, does Brecksen violate any CFA Standards?
选项：
A. No.
B. Yes, relating to record retention.
C. Yes, relating to diligence and reasonable basis.
解释：
A is correct.
Brecksen does not consider the multi-factor analysis a critical component of the analysis or the resulting investment recommendation and thus, under Standards V(A) and (C), is not required to maintain a record of the analysis within the completed report.
Apfelbaum uses traditional "top-down" fundamental analysis in the investment process. The report followed the traditional format of previous reports on the same company. It contained a complete fundamental analysis and recommendation—indicating diligence and reasonable basis. The report also contained a multi-factor analysis—which is a quantitative analysis tool. If quantitative analysis were the basis of the investment recommendation, it would constitute a change in the general investment principles used by the firm. According to Standard V(B) –Communications with Clients and Prospective Clients, Brecksen and Grohl would be required to promptly disclose those changes to clients and prospective clients.
老师，我还想追问一下：传统的基本面分析与使用何种数量模型是无关的对么？多因素模型也会分宏观或者公司层面，这个跟传统的基本面分析有什么关系么？感觉自己比较搞混了，还请帮忙解答，谢谢！
