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NEW QUESTION: 1
Your program creates a byproduct that you could sell to a client. The cost of the byproduct would offset the cost of the program by nearly $7,500 per month. This is an example of which positive risk response?
A. Enhance
B. Exploiting
C. Sharing
D. Accepting
Answer: B
NEW QUESTION: 2
This integration resource is specific to an individual organization, and exposes all of the standard objects, custom objects, and any custom fields through the SOAP interface.
A. Portal WSDL
B. Enterprise WSDL
C. Custom WSDL
D. System WSDL
E. Partner WSDL
F. None of the above
Answer: B
NEW QUESTION: 3
Charlice is a portfolio manager who manages (with the help of four analysts) the pension plan assets of Gordon Industries. Charlice received this account four years ago from Gordon Industries Vice President, Michael Burnbaum, who is also in charge of investment oversight. To whom does Charlice owe fiduciary duties?
I. Michael Burnbaum, in his capacity as Gordon Industries' Investment Officer.
II. The employees of Gordon Industries.
III. The pension beneficiaries at Gordon Industries.
A. III only
B. II and III only
C. I only
D. I and III only
Answer: A
Explanation:
Explanation/Reference:
Explanation:
A portfolio manager owes fiduciary responsibility to the beneficiaries of the portfolio he is managing. In case of pension plans, the loyalty is not owed to the person who hired the manager or to the entity that set up the fund. Rather, the responsibility lies toward the ultimate plan beneficiaries; in the case of Gordon Industries, it is the pension plan beneficiaries (though not all employees are pension recipients so II is not a valid choice). Standard IV (B.1) - Fiduciary Duties - and the Topical Study, "Fiduciary Duty."
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