Question 481

Anderb, a portfolio manager for XYZ Investment Management Company--a registered investment organization that advises investment companies and private accounts--was promoted to that position three years ago. Bates, her supervisor, is responsible for reviewing Anderb's portfolio account transactions and her required monthly reports of personal stock transactions. Anderb has been using
Jonelli, a broker, almost exclusively for portfolio account brokerage transactions. For securities in which
Jonelli's firm makes a market, Jonelli has been giving Anderb lower prices for personal purchases and higher prices for personal sales than Jonelli gives Anderb's portfolio accounts and other investors. Anderb has been filing monthly reports with Bates only in those months in which she has no personal transactions, which is about every fourth month. Which of the following apply (applies)?
I). Anderb violated the Code and Standards in that she failed to disclose to her employer her personal transactions.
II). Anderb violated the Code and Standards by breaching her fiduciary duty to her clients.
III). Bates violated the Code and Standards by failing to enforce reasonable procedures for supervising and monitoring Anderb in Anderb's trading for her own account.
  • Question 482

    The marginal revenue product will shift to the right if
  • Question 483

    BB Corporation's trial balance included the following account balances at December 31, 2000:
    Accounts payable: $90,000 Bonds payable, due 2001: 150,000 Discount on bonds payable: 18,000
    Dividends payable: 48,000 Notes payable, due 2004: 120,000
    What amount should be included in the current liability section of the balance sheet?
  • Question 484

    Jason has $500 in a savings account which earns 5% compounded annually. How much additional interest would he earn in four years if he moved the money to an account which earns 6%?
  • Question 485

    The main difference between the t and z statistic is that the t statistic
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