You have a friend who works as a legal adviser to a firm which is about to be acquired at a significant premium to the current market price. He informs you of the upcoming acquisition and suggests that you purchase a significant number of shares. He says that while he is an insider, you can trade on the information because you are not. I. You cannot trade on the information because it is material and non-public. II. You can trade on the information because you are not an insider. III. You cannot trade on the information because your friend has breached fiduciary duty. A. I only. B. I and III. C. II only. D. III only.
A
A
A
A
Is this difficult?
not really dreary, but when I ran through that Q I picked B cause III seems correct too I’m trying to practice as much as I can and sometimes I don’t read the Q carefully enough
I didn’t even notice III 
Yeah, you wouldn’t pick that because it is not related to the question.
I guess A is correct Although III (answer B) seems quite correct too.
A