Ass Man Code quiz

Which of the following is not a requiement of the compliance procedures recommended in the Asset Manager Code? Possible answers: A: All employees must sign an annual statement acknowledging that they have not breached any compliance procedures. B: The appointed compliance officer should conduct regular reviews with employees to ensure compliance procedures are understood. C: Reviews should be made to ensure that there is no front running occuring. D: Independent verification of information sent to clients should be carried out.

A

D

A

love the names of these quizzes. reminds me of Kramer on Seinfeld. i guess A

A as well…these ASS MAN quizzes rule…OP is a rock star

I’m going to go w/ C. Seems a bit specific

The answer is: A The nearest the Code gets to this issue is to state that consideration should be given asking employees to sign a statement acknowledging they have received a copy of the Code and have complied with it. There is no requirement asking for annual statements.

Damn, guessed D.

Was btwn A & D. Guessed D =(

Why is D a requirement? Can’t find it in AMC [not theater:D].

Found it – D.3 Ensure that portfolio information provided to clients by the Manager is accurate and complete and arrange for independent third-party confirmation or review of such information.

I think it is D. So, what is the actual answer?

bell99 Wrote: ------------------------------------------------------- > I think it is D. > > So, what is the actual answer? Posted by: CFASniper (IP Logged) Date: May 12, 2011 06:02PM The answer is: A The nearest the Code gets to this issue is to state that consideration should be given asking employees to sign a statement acknowledging they have received a copy of the Code and have complied with it. There is no requirement asking for annual statements.