31、When a CFA Institute member suspects a client or a colleague of planning or engaging in ongoing illegal activities, which of the statements about the actions that the member should take is most correct? According to the CFA Institute Standards of Professional Conduct, the CFA Institute member should: A) consult counsel to determine the legality of the activity. B) consult counsel to determine the legality of the activity and disassociate from any illegal or unethical activity if the member has reasonable grounds to believe that the activity is illegal or unethical. C) ignore the suspected illegal activity unless the suspected party is a CFA Institute member. D) disassociate from any illegal or unethical activity if the member has reasonable grounds to believe that the activity is illegal or unethical. The correct answer was B) According to the procedures for compliance involving Standard I(A), CFA Institute members should determine legality and disassociate from any illegal or unethical activity. 32、Which of the following is least likely an example of a violation of Standard I, Professionalism, of the Code and Standards? An analyst: A) knowingly breaks a securities law. B) learns of a standard or law violation when acting on an outside board and takes a "wait and see" approach to the violation. C) learns of a client's violation of a standard or law and notifies the proper supervisory person in the analyst's firm. D) quietly quits his job when he learns that a client knowingly misstates information on a prospectus. The correct answer was C) Violations must be reported to the appropriate supervisory person in the analyst’s firm. Although CFA Institute Standards encourage a member to disassociate from an illegal activity, quietly resigning from a job is not an effective way to deal with a client’s violation. The analyst should report findings to the appropriate supervisory person in the firm, so that the firm may take appropriate action. 33、Jane Dawson, CFA, an analyst at a New York brokerage firm, suspects that Bob Boatman, CFA, another analyst at the same firm, has violated a state securities law. According to the CFA Institute Standards of Professional Conduct, Dawson is: A) required to report the suspected violation to CFA Institute. B) NOT required to report the violation to the appropriate governmental or regulatory organizations. C) required to report the suspected violation to the appropriate state regulatory agency. D) required to report the suspected violation to the Securities and Exchange Commission. The correct answer was B) The Code and Standards do not require that members report legal violations to the appropriate governmental or regulatory organizations, but such disclosure may be prudent in certain circumstances. Dawson should consult legal counsel and disassociate from the activity. 34、Mega Securities, a multinational investment advisor based in the United States, employs the following analysts who practice in multiple jurisdictions. § Melissa Black, CFA, resides in Country N, which has no securities laws or regulations, but does business in Country L, which has securities laws and regulations that are less strict than the Code and Standards. § Tom White, a CFA Institute member, resides in Country L, but does business in Country S, which has securities laws and regulations that are stricter than the Code and Standards. According to the CFA Institute Code and Standards, which of the following statements about Black and White is TRUE?
| Black must adhere to the: | White must adhere to the |
A) law of Country N law of Country L B) law of Country L law of Country S C) law of Country L Code and Standards D) Code and Standards law of Country S The correct answer was D) Because the applicable law in Country L is less strict than the Code and Standards, Black must adhere to the Code and Standards. Because the applicable law is stricter than the Code and Standards, White must adhere to the more strict applicable law of Country S. 35、John Martin, an analyst and CFA charterholder, discovers that Jurix Co. has knowingly misstated information in their prospectus. To comply with CFA Institute’s Code of Ethics and Standards of Professional Conduct, he should: A) resign from his job in order to disassociate from the potentially illegal activity. B) call the appropriate regulatory agency and report the action. C) report the finding to the appropriate supervisory person in his firm. D) do nothing and see if the firm corrects the problem. The correct answer was C) To comply with the Code and Standards, John should notify the appropriate supervisory person in his firm of the violation. | 
发表于 2008-4-16 16:29
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