Please read the case study Harry Markhamss Loyalty Dilemma and answer the following questions.

1.) Briefly explain Harry Markhams ethical dilemma.

2.) In about a paragraph, explain the difference between defined benefit and defined contribution

3.) Which kind of workers have public pensions?

4.) In a paragraph or two, explain the problem with the discount rate used by accountants (and endorsed by the Government Accounting Standards board).

5.) Explain why plan sponsors, taxpayers, and state legislatures all have an interest reporting low liabilities for these pension plans.

6.) Note that the numbers Harry finds suspect are in fact endorsed by the GASB and other accounting organizations. Given this, do you think Harry has an obligation to raise the lisability issue with his clients? (Answer in about a paragraph).

7.) Note Harry has at least three obligations: To his firm, to the firms clients, and to the pensioners. Which of these loyalties do you think takes precedence? (Answer in one to two paragraphs).

8.) In Exhibit 2 of the Case Study, under the heading Code of Ethics there are some bullet points with the ethical rules CFA charter holders must follow. Which of the six bullet points do you think Harry might be violating if raise these concerns? (Answer in about 1 paragraph0.

9.) Carefully read over the Standards of Professional Conduct for CFA charter holders (p. 8-11). In about three paragraphs, argue whether Harry should or should not voice his concerns according to these standards of professional conduct. Cite the different standards that are listed to support your argument.