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NEW QUESTION: 1
Kent Hold is tendering for a future client. He informs the client that he is an expert portfolio manager and has averaged a 30% annual return for his clients over the past two years. However Kent does not inform his client is that in this time period he only managed two accounts. In addition a large part of the return that he achieved was as a result of a large delisting. Without this delisting the return would have only been 12% average per annum.
Has Kent violated the Standards of Professional Conduct?
A. Yes, because his statements do not fairly and accurately reflect his track record.
B. Yes, because he did not consider the clients investment preferences when stating his performance.
C. No, because the 30% return is in fact a true record of Kent's performance.
Answer: A
Explanation:
A misrepresentation is any untrue statement of a fact or any statement that is otherwise false or misleading. Although Kent's statement is factually correct they are misleading since his statements do not fairly and accurately reflect his track record.
NEW QUESTION: 2
To ensure the reliability of the video, which of the following technologies can be used? (Multiple Choice)
A. Load balancing technology between groups
B. Rapid repair technology
C. Block storage technology
D. Watermarking technology
Answer: A,B,C
NEW QUESTION: 3
What is the correct variance formula for an ASO database that recognizes Expense and Non-expense accounts?
A. @Var([Actual],[Budget])
B. @Var(Actual, Budget);
C. IIF (IsUda([Measures.currentmember], "Expense"), [Budget]-[Actual], [Actual]-[Budget])
D. [Actual] - [Budget]
E. [Budget] -[ Actual]
Answer: C
Explanation:
Explanation/Reference:
The following MDX formula is appropriate here:
IIF ( IsUDA ([Measures].CurrentMember, "Expense"),
([Budget] - [Actuals]),
([Actuals] - [Budget])
)
Note #1: Member formula conversions for variance calculations can be accomplished with the help of User Defined Attributes (UDAs) that flag expense items.
A combination of UDAs and conditional logic in ASO outlines provides the equivalent of the Expense Reporting functionality available in BSO outlines.
Note #2: Note: The MultiDimensional eXpressions (MDX) language provides a specialized syntax for querying and manipulating the multidimensional data stored in OLAP cubes. While it is possible to translate some of these into traditional SQL, it would frequently require the synthesis of clumsy SQL expressions even for very simple MDX expressions. MDX has been embraced by a wide majority of OLAP vendors and has become the standard for OLAP systems.
Reference: Converting a Block Storage Outline to Aggregate Storage in Essbase, Calculating Scenario Variances Using Conditional Logic
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