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NEW QUESTION: 1
Chester Brothers, LLC, is an investment management firm with $200 million in assets under management.
Chester's equity style is described to clients as a "large cap core" strategy. One year ago, Chester instituted a new compensation plan for its equity portfolio managers. Under this new plan, each portfolio manager receives an annual bonus based upon that manager's quarterly performance relative to the S&P
500 index. For each quarter of aut-performance, the manager receives a bonus in the amount of 20% of his regular annual compensation. Chester has not disclosed this new plan to clients. Portfolio managers at Chester are not bound by non-compete agreements.
Fames Rogers, CFA, and Karen Pierce, CFA, are both portfolio managers affected by the new policy.
Rogers out-performed the S&P 500 index in each of the last three quarters, largely because he began investing his clients1 funds in small cap securities. Chester has recently been citing Rogers's performance in local media advertising, including claims that "Chester's star manager, James Rogers, has outperformed the S&P 500 index in each of the last three quarters." The print advertising associated with the media campaign includes a photograph of Rogers, identifying him as James Rogers, CFA. Below his name is a quote apparently attributable to Rogers saying "as a CFA chartcrholdcr I am committed to the highest ethical standards." A few weeks after the advertising campaign began, Rogers was approached by the Grumpp Foundation, a local charitable endowment with $3 billion in assets, about serving on their investment advisory committee.
The committee meets weekly to review the portfolio and make adjustments as needed. The Grumpp trustees were impressed by the favorable mention of Rogers in the marketing campaign. In making their offer, they even suggested that Rogers could mention his position on the advisory committee in future Chester marketing material. Rogers has not informed Chester about the Grumpp offer, but he has not yet accepted the position.
Pierce has not fared as well as Rogers. She also shifted into smaller cap securities, but due to two extremely poor performing large cap stocks, her performance lagged the S&P 500 index for the first three quarters. After an angry confrontation with her supervisor, Pierce resigned. Pierce did not take any client information with her, but when she left she did take a copy of a Pierce has not fared as well as Rogers.
She also shifted into smaller cap securities, but due to two extremely poor performing large cap stocks, her performance lagged the S&P 500 index for the first three quarters. After an angry confrontation with her supervisor, Pierce resigned. Pierce did not take any client information with her, but when she left she did take a copy of a computer model she developed while working al Chester, as well as the most recent list of her buy recommendations, which was created from the output of her computer valuation model. Pierce soon accepted a position at a competing firm, Cheeri Group. On her first day at Cheeri, she contacted each of her five largest former clients, informing them of her new employment and asking that they consider moving their accounts from Chester to Cheeri. During both telephone conversations and e-mails with her former clients, Pierce mentioned that Chester had a new compensation program that created incentives for managers to shift into smaller cap securities.
Cheeri has posted Pierce's investment performance for the past five years on its Web site, excluding the three most recent quarters. The footnotes to the performance information include the following two statements:
Statement 1: Includes large capitalization portfolios only.
Statement 2: Results reflect manager's performance at previous employer.
Cheeri's presentation of Pierce's investment performance is inconsistent with CFA Institute Standards because:
A. the results misrepresent Pierce's large cap performance.
B. the results were not calculated under GIPS.
C. performance from a previous employer should not be included.
Answer: A
Explanation:
Explanation/Reference:
Explanation:
Standard III (D). The problem is that Pierces performance over the last three quarters arose from large cap securities, not small cap securities. Excluding these results misrepresents her ability as a large cap manager. The Standards do not require compliance with GIPS, nor do they require that previous employer results be excluded. Stating results of a specific style, such as large cap, is acceptable if it is accurate.
(Study Session l, LOS2.a)

NEW QUESTION: 2
Your company has two main offices. The offices are located in London and Seattle. All servers run Windows Server 2016.
In the Seattle office, you have a Distributed File System (DFS) server named FS1. FS1 has a folder named Folder1 that contains large Windows image files.
In the London office, you deploy a DFS server named FS2, and you then replicate Folder1 to FS2.
After several days, you discover that the replication of certain files failed to complete.
You need to ensure that all of the files in Folder1 can replicate to FS2.
What should you do?
A. Create a quota for Folder1 by using File Server Resource Manager (FSRM).
B. From a command prompt, run dfsutil /purgemupcache.
C. Modify the disk quota of the drive that contains Folder1.
D. Modify the size of staging area of Folder1.
Answer: A
Explanation:
Explanation
https://technet.microsoft.com/en-us/library/hh831487(v=ws.11).aspx

NEW QUESTION: 3
Your small startup does not have a budget for capital equipment. What type of cloud would initially best suit your needs?
A. Organization cloud
B. Public cloud
C. Hybrid cloud
D. Private cloud
Answer: B
Explanation:
Reference:http://www.aerohive.com/pdfs/Aerohive-Whitepaper-Public-or-Private-Cloud.pdf(page 2, see public cloud service overview)