答案和详解如下： 1、Which of the following activities will least likely constitute a violation of Standard IV(A), Loyalty? A) Conspiracy to bring about a mass resignation of other employees. B) Consulting on your own time and obtaining written permission from your employer. C) Self-dealing, taking the employer's property or information. D) Contacting your current clients and asking them to "come with you" when you resign from your current employer. The correct answer was B) Consulting on your own time and obtaining written permission from your employer does not constitute a violation of Standard IV(A). 2、Which of the following statements is most correct concerning a member’s obligation to his or her employer under the Code and Standards? A) Consent from the employer is necessary to permit independent practice that could result in compensation or other benefits in competition with the member's employer. B) Members are prohibited from making arrangements or preparations to go into competitive business before terminating their relationship with their employer. C) Members are prohibited from undertaking independent practice in competition with their employer. D) Consent from the prospective clients is necessary to permit independent practice that could result in compensation or other benefits in competition with the member's employer. The correct answer was A) There is no blanket prohibition against independent practice in competition with a member’s employer. The member must obtain permission from the employer. Members may make preparations to go into a competitive business, but may not solicit clients of the employer as long as members are still employed by the employer. 3、Theresa Hatcher, CFA, is making arrangements to establish her own investment advisory business before terminating her relationship with her current employer, Elite Brokers, Inc. Elite is a small company consisting of only six investment professionals and a small support staff. According to CFA Institute Standards of Professional Conduct, which of the following activities is least likely a violation of Hatcher's duty to Elite? A) Hatcher solicits Elite's clients before her termination of employment at Elite. B) Hatcher takes home copies of Elite's client lists and marketing presentations. C) Hatcher engages in secret negotiations with two other investment professionals and her administrative assistant to leave Elite in order to join her new business. D) Hatcher leases office space, furniture, and other equipment for her new business. The correct answer was D) Standard IV(A) permits Hatcher to make preparations to begin a new practice, such as leasing office space, furniture, and other equipment, but not to engage in the other activities that may violate her duty to employer. 4、Brian Bellow, a CFA Institute member, is a portfolio manager for Progressive Trust Company. Several friends asked Bellow to review their investment portfolios. On his own time, Bellow examined their portfolios and made several recommendations. He received no monetary compensation from his friends for his investment advice and provided no future investment counsel to them. According to CFA Institute Standards of Professional Conduct, did Bellow violate his duty to Progressive Trust? A) No, because Bellow provided no ongoing investment advice. B) No, because Bellow provided investment advice to his friends. C) No, because Bellow received no monetary compensation for his services. D) Yes, because he undertook an independent practice that could result in compensation or other benefit to him. The correct answer was D) Standard IV(A) does not preclude providing independent services for compensation while still employed; however, notification to the employer is required describing the type of service, the expected duration, and the compensation. Compensation includes more than just monetary benefits. 5、Sue Parsons, CFA, works full-time as an investment advisor for the Malloy Group, an asset management firm. To help pay for her children’s college expenses, Parsons wants to engage in independent practice in which she would advise individual clients on their portfolios. She would conduct these investment activities only on weekends. Which of the following statements about Standard IV(A), Loyalty to Employer, is most accurate? Standard IV(A): A) precludes Parsons from entering into an independent competitive activity while still employed by Malloy. B) does not require Parsons to notify Malloy of preparing to undertake independent practice under the current conditions. C) requires Parsons to notify Malloy in writing about her intention to undertake an independent practice. D) requires Parsons to obtain written consent from both Malloy and the persons from whom she undertakes independent practice. The correct answer was B) Standard IV(A), Loyalty to Employer, requires that Parsons obtain written consent only from her employer before she undertakes independent practice that could result in compensation or other benefit in competition with Malloy. It is not required to get permission from your employer when only preparing to go into independent practice. | 
发表于 2008-4-9 11:52
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