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NEW QUESTION: 1
Michelieu tells a prospective client, "I may not have a long-term track record yet, but I'm sure that you'll be very pleased with my recommendations and service. In the three years that I've been in the business, my equity-oriented clients have averaged a total return of more than 26 percent a year." The statement is true, but Michelieu only has a few clients and one of his clients took a large position in a penny stock (against Michelieu's advice) and realized a huge gain. This large return caused the average of all of Michelieu's clients to exceed 26 percent a year. Without this one investment, the average gain would have been 8 percent a year.
Has Michelieu violated the Standards?
A. No, because the 30% return is in fact a true record of Kent's performance.
B. Yes, because he did not consider the clients investment preferences when stating his performance.
C. Yes, because his statements do not fairly and accurately reflect his track record.
Answer: C
Explanation:
Standard I (C) - Misrepresentation. Although Michelieu's statement regarding the total return of his client's accounts on average may be technically true, it is misleading because the majority of the gain resulted from one client's large position taken against Michelieu's advice. He has not taken steps to present a fair, accurate and complete presentation of performance. Even though he is not guaranteeing future results, his words are still a misrepresentation of performance. Not disclosing the risk preferences of clients does not make a statement misleading and is not a violation of the Standards in this context.
NEW QUESTION: 2
SCENARIO
Please use the following to answer the next QUESTION:
Manasa is a product manager at Omnipresent Omnimedia, where she is responsible for leading the development of the company's flagship product, the Handy Helper. The Handy Helper is an application that can be used in the home to manage family calendars, do online shopping, and schedule doctor appointments.
After having had a successful launch in the United States, the Handy Helper is about to be made available for purchase worldwide.
The packaging and user guide for the Handy Helper indicate that it is a "privacy friendly" product suitable for the whole family, including children, but does not provide any further detail or privacy notice. In order to use the application, a family creates a single account, and the primary user has access to all information about the other users. Upon start up, the primary user must check a box consenting to receive marketing emails from Omnipresent Omnimedia and selected marketing partners in order to be able to use the application.
Sanjay, the head of privacy at Omnipresent Omnimedia, was working on an agreement with a European distributor of Handy Helper when he fielded many Questions about the product from the distributor. Sanjay needed to look more closely at the product in order to be able to answer the Questions as he was not involved in the product development process.
In speaking with the product team, he learned that the Handy Helper collected and stored all of a user's sensitive medical information for the medical appointment scheduler. In fact, all of the user's information is stored by Handy Helper for the additional purpose of creating additional products and to analyze usage of the product. This data is all stored in the cloud and is encrypted both during transmission and at rest.
Consistent with the CEO's philosophy that great new product ideas can come from anyone, all Omnipresent Omnimedia employees have access to user data under a program called Eureka. Omnipresent Omnimedia is hoping that at some point in the future, the data will reveal insights that could be used to create a fully automated application that runs on artificial intelligence, but as of yet, Eureka is not well-defined and is considered a long-term goal.
What can Sanjay do to minimize the risks of offering the product in Europe?
A. Sanjay should document the data life cycle of the data collected by the Handy Helper.
B. Sanjay should work with Manasa to review and remediate the Handy Helper as a gating item before it is released.
C. Sanjay should advise the distributor that Omnipresent Omnimedia has certified to the Privacy Shield Framework and there should be no issues.
D. Sanjay should write a privacy policy to include with the Handy Helper user guide.
Answer: A
NEW QUESTION: 3
You have made a copy of your job and made major changes to a job in your project. You now want to identify all the changes that have been made. What task will allow you to identify these changes?
A. Export the original job to a backup directory.
B. Select the job, then right click Cross Project Compare.
C. Select the job, then right click Compare against.
D. Export the modified job to the backup directory.
Answer: C
NEW QUESTION: 4
What is the function of DHCP Offer messages?
A. DHCP Offer messages are sent by the client to apply to the server for configuration parameters, configuration confirmation, or extension of the IP address lease.
B. DHCP Offer messages are sent by the server to respond to the DHCP Discover messages sent by the client. Certain configuration parameters are specified in the Offer messages.
C. DHCP Offer messages are sent from the server to the client. They contain configuration parameters such as including the IP address.
D. DHCP Offer messages are broadcast by the client to detect the available server.
Answer: B
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