CFA Practice Question

CFA Practice Question

Christine Henson, CFA is a portfolio manager for AQ Inc. The pension fund GXH is AQ's largest revenues generator. Henson also manages several individual accounts, which have the same risk-return objectives as the pension fund. From block trades, Henson first fills the pension fund orders first, and then allocates to the individual accounts (proportionate to portfolio size) any remaining shares. Has Henson violated the Standards?
A. Yes, with respect to Diligence and Reasonable Basis
B. Yes, with respect to Fair Dealing.
C. No.
Explanation: Needs to treat different clients equally, cannot favor larger client in this manner.

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