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NEW QUESTION: 1
Chester Brothers, LLC, is an investment management firm with $200 million in assets under management.
Chester's equity style is described to clients as a "large cap core" strategy. One year ago, Chester instituted a new compensation plan for its equity portfolio managers. Under this new plan, each portfolio manager receives an annual bonus based upon that manager's quarterly performance relative to the S&P
500 index. For each quarter of aut-performance, the manager receives a bonus in the amount of 20% of his regular annual compensation. Chester has not disclosed this new plan to clients. Portfolio managers at Chester are not bound by non-compete agreements.
Fames Rogers, CFA, and Karen Pierce, CFA, are both portfolio managers affected by the new policy.
Rogers out-performed the S&P 500 index in each of the last three quarters, largely because he began investing his clients1 funds in small cap securities. Chester has recently been citing Rogers's performance in local media advertising, including claims that "Chester's star manager, James Rogers, has outperformed the S&P 500 index in each of the last three quarters." The print advertising associated with the media campaign includes a photograph of Rogers, identifying him as James Rogers, CFA. Below his name is a quote apparently attributable to Rogers saying "as a CFA chartcrholdcr I am committed to the highest ethical standards." A few weeks after the advertising campaign began, Rogers was approached by the Grumpp Foundation, a local charitable endowment with $3 billion in assets, about serving on their investment advisory committee.
The committee meets weekly to review the portfolio and make adjustments as needed. The Grumpp trustees were impressed by the favorable mention of Rogers in the marketing campaign. In making their offer, they even suggested that Rogers could mention his position on the advisory committee in future Chester marketing material. Rogers has not informed Chester about the Grumpp offer, but he has not yet accepted the position.
Pierce has not fared as well as Rogers. She also shifted into smaller cap securities, but due to two extremely poor performing large cap stocks, her performance lagged the S&P 500 index for the first three quarters. After an angry confrontation with her supervisor, Pierce resigned. Pierce did not take any client information with her, but when she left she did take a copy of a Pierce has not fared as well as Rogers.
She also shifted into smaller cap securities, but due to two extremely poor performing large cap stocks, her performance lagged the S&P 500 index for the first three quarters. After an angry confrontation with her supervisor, Pierce resigned. Pierce did not take any client information with her, but when she left she did take a copy of a computer model she developed while working al Chester, as well as the most recent list of her buy recommendations, which was created from the output of her computer valuation model. Pierce soon accepted a position at a competing firm, Cheeri Group. On her first day at Cheeri, she contacted each of her five largest former clients, informing them of her new employment and asking that they consider moving their accounts from Chester to Cheeri. During both telephone conversations and e-mails with her former clients, Pierce mentioned that Chester had a new compensation program that created incentives for managers to shift into smaller cap securities.
Cheeri has posted Pierce's investment performance for the past five years on its Web site, excluding the three most recent quarters. The footnotes to the performance information include the following two statements:
Statement 1: Includes large capitalization portfolios only.
Statement 2: Results reflect manager's performance at previous employer.
When Pierce left her position at Chester, her behavior was inconsistent with the CFA Institute Standards in that:
A. taking the list of her recommendations was a violation, but taking the computer model was not a violation.
B. both the computer model and the recommended list were Chester property that Pierce should not have taken.
C. taking the computer model was a violation, but taking the recommended list was not a violation.
Answer: B
Explanation:
Explanation/Reference:
Explanation:
Standard IV(A). Pierce should not have taken any employer records, and the computer model was Chester's property, regardless of Pierce's role in developing the model. Pierce has violated Standard IV(A) Duties to Employers - Loyalty hy taking both items without Chester's consent. (Study Session 1, LOS 2.a)
NEW QUESTION: 2
Administrators can configure which three of the following load balancing options in GTM?
(Choose three.)
A. Fallback
B. Optional
C. Preferred
D. Backup
E. Alternate
F. Required
Answer: A,C,E
NEW QUESTION: 3
Your network contains an Active Directory domain named contoso.com. The domain contains a file server named Server1 that runs Windows Server 2012 R2.
You view the effective policy settings of Server1 as shown in the exhibit. (Click the Exhibit button.)
On Server1, you have a folder named C:\Share1 that is shared as Share1. Share1 contains confidential data. A group named Group1 has full control of the content in Share1.
You need to ensure that an entry is added to the event log whenever a member of Group1 deletes a file in Share1.
What should you configure?
A. the Sharing settings of C:\Share1
B. the Audit File System setting of Servers GPO
C. the Audit File Share setting of Servers GPO
D. the Security settings of C:\Share1
Answer: D
Explanation:
You can use Computer Management to track all connections to shared resources on a Windows Server 2008 R2 system.
Whenever a user or computer connects to a shared resource, Windows Server 2008 R2 lists a connection in the Sessions node.
File access, modification and deletion can only be tracked, if the object access auditing is enabled you can see the entries in event log.
To view connections to shared resources, type net session at a command prompt or follow these steps:
--
In Computer Management, connect to the computer on which you created the shared resource. In the console tree, expand System Tools, expand Shared Folders, and then select Sessions. You can now view connections to shares for users and computers.
To enable folder permission auditing, you can follow the below steps:
Click start and run "secpol. msc" without quotes.
Open the Local Policies\Audit Policy
Enable the Audit object access for "Success" and "Failure".
Go to target files and folders, right click the folder and select properties.
Go to Security Page and click Advanced.
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Click Auditing and Edit.
Click add, type everyone in the Select User, Computer, or Group.
Choose Apply onto: This folder, subfolders and files.
Tick on the box "Change permissions"
Click OK.
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After you enable security auditing on the folders, you should be able to see the folder permission changes in the server's Security event log. Task Category is File System. http: //social. technet. microsoft. com/Forums/en-US/winservergen/thread/13779c78-0c734477-8014-f2eb10f3f10f/ http: //technet. microsoft. com/en-us/library/cc753927(v=ws. 10). aspx http: //social. technet. microsoft. com/Forums/en-US/winservergen/thread/13779c78-0c734477-8014-f2eb10f3f10f/ http: //support. microsoft. com/kb/300549 http: //www. windowsitpro. com/article/permissions/auditing-folder-permission-changes http: //www. windowsitpro. com/article/permissions/auditing-permission-changes-on-afolder