Answer: both to fair dealing and to performance presentation.

## Explanation Anisha Joshi has violated **both** fair dealing and performance presentation standards: ### 1. **Violation of Performance Presentation Standards (Standard III(D))**: - Standard III(D) Performance Presentation requires that members must not misrepresent investment performance. - Simulated or hypothetical performance results must be clearly identified as such. - By failing to indicate that the results are simulated in promotional materials, Joshi misrepresents the performance, which is a violation of Standard III(D). ### 2. **Violation of Fair Dealing Standards (Standard VI(B))**: - Standard VI(B) Priority of Transactions requires fair dealing with clients. - While this might not be the primary violation, the failure to disclose that results are simulated could be seen as unfair dealing because clients are not receiving complete and accurate information to make informed investment decisions. - The promotional material's omission of the simulated nature of results could mislead clients, which violates the principle of fair dealing. ### Key Points: - **Primary violation**: Performance presentation (Standard III(D)) - must clearly label simulated results. - **Secondary violation**: Fair dealing (Standard VI(B)) - misleading clients with incomplete information. - The correct answer is C because both standards are violated by failing to disclose that performance results are simulated.

Author: LeetQuiz .