题目内容

Which of the following industries is most likely characterized by low barriers to entry, fierce competition, fragmented structure, and weak pricing power?

A. Restaurants.
B. Proprietary drugs.
Credit card processing.

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Kazuya Kato, CFA, is a widely followed economist at a global investment bank. When Kato opines on economic trends, markets react by moving stock valuations considerably. When Kato receives information

A. Market Manipulation.
B. Priority of Transactions.
C. Additional Compensation Arrangements.

An investor in exchange traded funds (ETFs) is most likely to benefit from its:

A. End of day pricing.
B. Lack of tracking error risk.
C. Lower capital gains tax liability relative to mutual funds.

Noor Hussein, CFA, runs a financial advisory business, specializing in retirement planning and investments. One of her clients asks her to advise the firms pension fund trustees on available investmen

A. Yes.
B. No,with regard to Misconduct.
C. No,with regard to Diligence and Reasonable Basis.

Mailaka Securities (MS) advertises the use of a "bottom up" investment style in its marketing material. Recently, MS senior management decided to switch to a "top down" approach, c

A. Supervisory Responsibility.
B. Communication with Clients.
C. Diligence and Reasonable Basis.

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