2021年CFA考试《Level Ⅰ》考试题库-CFA考试（Level Ⅰ）-Study Session 1　Ethics and Professional Standards-

财会经济-CFA特许金融分析师

单选题-Cobb, Inc., has hired Jude Kasten, CFA, to manage its pension fund. The client(s) to whom Kasten owes a duty of loyalty are:

单选题

A.Cobb's management.

B.The shareholders of Cobb,Inc

C.The beneficiaries of the pension fund.

我个人认为这个应该是：C

解析：Standard III(A) Loyalty, Prudence, and Care specifies that for the manager of a pension or trust, the duty of loyalty is owed to the beneficiaries, not to the individuals who hired the manager.