单选题

Billy, CFA, tells a prospective client that the earnings of K&K Limited will be $10.05 per share next fiscal year. Billy violated（）。

A、 Standard V(A) Prohibition against Use of Material Nonpublic Information.
B、 Standard Ⅳ(B) Distinguish between facts and opinions.
C、 Standard Ⅳ(A) Avoid any material misrepresentations.

【正确答案】 B

【答案解析】

Standard Ⅴ(B) Portfolio Investment Recommendations and Actions. Billy failed to distinguish between facts and opinions. He should have said The earnings K&K Corp.'s earnings are estimated to be $10.05 per share next fiscal year.