Reading 1: Code of Ethics and Standards of Professional Co white, members, required, following, statements

mayanfang1

Q29. According to the Code of Ethics, which of the following statements is FALSE? CFA Institute members are required to:

A)   comply with the CFA Institute Performance Presentation Standards.

B)   use reasonable care and exercise independent professional judgment.

C)   maintain and improve their competence and strive to maintain the competence of others in the profession.

Q30. According to the Code of Ethics, the professional judgment of a member should be:

A)   independent.

B)   guided by the SEC guidelines.

C)   dependent on that of his/her colleagues.

mayanfang1

答案和详解如下：

Q29. According to the Code of Ethics, which of the following statements is FALSE? CFA Institute members are required to:

A)   comply with the CFA Institute Performance Presentation Standards.

B)   use reasonable care and exercise independent professional judgment.

C)   maintain and improve their competence and strive to maintain the competence of others in the profession.

Correct answer is A)

The CFA Institute-PPS are voluntary standards for the industry. Firms are not required to comply with these standards when presenting performance. The other statements are each components of the CFA Institute Code of Ethics.

Q30. According to the Code of Ethics, the professional judgment of a member should be:

A)   independent.

B)   guided by the SEC guidelines.

C)   dependent on that of his/her colleagues.

Correct answer is A)

The Code of Ethics states that the CFA Institute member shall “Use reasonable care and exercise independent professional judgment.” None of the other answers resemble anything in the Code.

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