NO.PZ2016032801000016
问题如下:
Grey recommends the purchase of a mutual fund that invests solely in long-term US Treasury bonds. He makes the following statements to his clients:
I. "The payment of the bonds is guaranteed by the US government; therefore, the default risk of the bonds is virtually zero."
II. "If you invest in the mutual fund, you will earn a 10% rate of return each year for the next several years based on historical performance of the market."
Did Grey’s statements violate the CFA Institute Code and Standards?
选项:
A.Neither statement violated the Code and Standards.
B.Only statement I violated the Code and Standards.
C.Only statement II violated the Code and Standards.
解释:
C is correct.
This question involves Standard I(C) –Misrepresentation. Statement I is a factual statement that discloses to clients and prospects accurate information about the terms of the investment instrument. Statement II, which guarantees a specific rate of return for a mutual fund, is an opinion stated as a fact and, therefore, violates Standard I(C). If statement II were rephrased to include a qualifying statement, such as "in my opinion, investors may earn . . . ," it would not be in violation of the Standards.
强化课讲义提到【如果本身return是可以保证的,也可以guarantee】。
- 题目中的表述二里面有个based on historical performance,这样足以说明return是可以保证的吗?
- “本身return是可以保证的”,这句话通常会有哪些表述?
谢谢老师解答。