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CFA Level 1 Exam

3959 Questions

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Question No. 1

Smithers is a financial analyst with XYZ Brokerage Company. She is preparing a purchase recommendation on

JNI Corporation. Which of the following situations would represent a conflict of interest for Smithers and,
therefore, would have to be disclosed?

I. Smithers is on a retainer as a consultant to JNI.
II. XYZ holds for its own account a substantial common stock position in JNI.
III. Smithers has material beneficial owners of JNI through a family trust.
IV. Smithers' brother-in-law is a supplier to JNI.
Choose the correct option from the given list.
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