CFA道德是一二三级考试中都要学习的科目，一级是基础，在备考CFA一级考试道德科目知识点学习的如何？需要在理解的基础上学习知识点的，今天融跃CFA一起看看道德考试题！
Over the past two days，Lorraine Quigley，CFA，manager of a hedge fund，has been purchasing large quantities of Craeger Industrial Products'common stock while at the same time shorting put options on the same stock.Quigley did not notify her clients of the trades although they are aware of the fund's general strategy to generate returns.Which of the following statements is most like/ycorrect？Quigley：
A.did not violate the Code and Standards.
B.violated the Code and Standards by manipulating the prices of publicly traded securities.
C.violated the Code and Standards by failing to disclose the transactions to clients before they occurred.
【答案】A
【解析】Quigley's trades are most likely an attempt to take advantage of an arbitrage opportunity that exists between Craeger's common stock and its put options.
She is not manipulating the prices of securities in an attempt to mislead market participants，which would violate Standard II（B）Market Manipulation.She is pursuing a legitimate investment strategy.Participants in her hedge fund are aware of the fund's investment strategy，and thus Quigley did not violate the Code and Standards by not disclosing this specific set of trades in advance of trading.
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