Adarsh was recently terminated by his company to save costs. He was one of a group of four equity fund managers who concentrated on the high-tech sector of the economy. During his exit interview, he received written permission from his old company to use the performance history of the funds that his entire group managed. In a letter sent to perspective employers Adarsh included the fund's performance results as his own personal accomplishment. (Total 6 Marks)

a) Did Adarsh do anything wrong? If YES explain in ethical terms what is wrong. If NO explain why (2 Marks)

b) Are there any CFA standards that are being broken and if so which ones? If so, state why they are broken? (2 Marks)

c) In terms of corporate culture what is the danger of hiring someone like Adarsh.

(2 Marks)