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Exam Code: 1Z0-1055-21

Exam Name: Oracle Financials Cloud: Payables 2021 Implementation Essentials

Version: V15.35

Q & A: 208 Questions and Answers

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NEW QUESTION: 1
John MacDaniel, CFA, is a trust officer for Confederation Trust Company. MacDaniel has been using
Joe Stein, a broker, almost exclusively for trust account brokerage transactions. For those stocks in which
Stein's firm makes a market, Stein has been giving MacDaniel lower prices for personal purchases and higher prices for personal sales than he has given MacDaniel's trust accounts and other investors.
John's actions violate which of the following CFA Institute's Standards of Professional Conduct:
I). Standard III (B) Fair Dealing and Standard III (C) Suitability.
II). Standard IV (B), Additional Compensation Arrangements.
III). Standard I (B), Independence and Objectivity
IV). Standard III (A), Loyalty, Prudence and Care.
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B. I, III, and IV only
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Answer: A

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