A money manager, who is a member of CFA Institute, states that, "Our aggressive growth fund produced a 12% annualized return last quarter. This illustrates the superior results our firm produces." The fund return stated by the manager is accurate. Is this a violation of Standard III(D) Performance Presentation?
A) Yes.
B) No, because a brief summary of results is acceptable as long as more complete information is made available.
C) No, because the manager has stated a fact.

A) Yes.

Explanation:

The Standard III(D) Performance Presentation enforces that all CFA members must make sure that the information given to the clients about their investment performance is fair, accurate, and complete. Therefore in this scenario the statement would be a violation of this act, because even though the statement is accurate, it is not complete and is missing too much information about the investment and all of it's details.

High demand encourages domestic quantities to increase, raising domestic prices higher than world prices

Explanation:

Due to tariffs and quotas, the amount of the protected goods coming into the country from countries where it is cheaper will reduce.

This will push people towards the domestic manufacturers of the goods. This increase in demand for local goods will lead to the producers having to charge more as well as produce more. As they are charging more based on the situation in their own country, the prices will be more than world prices.