问题
单项选择题
Michael Papis, CFA, is a chief investment officer of Assess Capital Management and manages several high-net-worth individual clients. Papis is responsible for presenting annual composite performance report for his managed accounts to his clients and prospective clients. In evaluating which accounts to include, he analyzes each of his managed accounts quarterly and picks those that have outperformed the benchmark to include in the composite performance report. Papis has least likely violated the Standards of Professional Conduct relating to:（）
A. independence and objectivity.
B. misrepresentation.
C. performance presentation.
答案
参考答案：A
解析：
该行为人为地将表现最优越的账户加入组合群进行业绩披露，明显地违反了业绩披露和虚假陈述规定，但这并不涉及独立性和客观性。注意，考题问的是最不可能违反哪一条。