【羿文寄语】当你还不能对自己说今天学到了什么东西时，你就不要去睡觉。

CFA考试Level Ⅰ

【单选题】

Josef Karloff, CFA, acts as liaison between Pinnacle Financial (an investment management firm) and Summit Inc.(an investment banking boutique specializing in penny stocks).When Summit underwrites an IPO, Karloff routinely has Pinnacle issue vague statements implying that the firm has cash flows, financial resources, and growth prospects that are better than is the case in reality.This action is most likely a violation of the section of the Standards concerning:

A.fair dealing

B.nonpublic information

C.misconduct

答案：C

【解析】Since the statements are vague, we have no direct evidence that a violation of securities law has occurred.However, under Standard I(D) Misconduct, members and candidates are prohibited from engaging in activities involving deceit.Karloff's action is a clear attempt to mislead the investing public regarding the value of Summit IPOs.