16、Mary Hiller, CFA, is a senior analyst at a mutual fund. She is also a member of the Board of the Directors of her daughter’s Skating Club. She is often asked for advice about the management of the club budget and about possible short-term investments, but she is not paid for this advice. She does not undertake any research to answer these questions, providing information based only on the general practices of the mutual fund at that moment. The only benefit she receives is a free monthly membership for her daughter that would usually cost $182. What should she do before making any recommendations, in order to comply with the CFA Institute requirements?

A)   Inform her current clients about her outside consulting.

B)   Obtain prior permission from her employer.

C)   Discontinue her membership in the Board of the Directors at the Skating Club.

D)   Consult only on her free time and do not accept any benefit greater than $100.

17、Jack Salyers, CFA, is considering starting his own firm to compete with his current employer. He takes several actions before turning in his resignation. Which of the following actions is NOT in violation of Standard IV(A), Loyalty to Employer?

A)   Before leaving, Jack solicits his employer's current clients.

B)   Jack told his employer that he was considering leaving and requested that the employer write him a letter of recommendation.

C)   Jack took home client lists and investment statements.

D)   Jack copied the employer's computer models and other property.

18、Which of the following statements regarding employee/employer relationships is FALSE?

A)   A written contract may or may not exist between employer and employee.

B)   The employer has the power to control and direct the details of how work is to be performed.

C)   There must be monetary compensation for an employer/employee relationship to exist.

D)   An employee is someone in the service of another.

19、When a CFA Institute member who is presently employed by a firm undertakes any independent practice, he must do all of the following EXCEPT:

A)   secure permission from the employer.

B)   describe the types of services the member will render to the prospective independent clients.

C)   disclose the expected duration of the services to be rendered.

D)   remand a percentage (to be determined by the employee and employer) of the income earned back to the employer.

20、Jacob Allen, CFA, decides he could make more money if he started his own company. Which of the following steps would NOT violate Standard IV(A), Loyalty to Employer?

A)   Taking home his current employer's client lists, investment statements and marketing presentations.

B)   Copying his employer's computer models because they fit perfectly with his new business.

C)   Getting written permission from his employer to call the clients and solicit their business for his new firm.

D)   Taking home the employer's buy lists.

答案和详解如下：

16、Mary Hiller, CFA, is a senior analyst at a mutual fund. She is also a member of the Board of the Directors of her daughter’s Skating Club. She is often asked for advice about the management of the club budget and about possible short-term investments, but she is not paid for this advice. She does not undertake any research to answer these questions, providing information based only on the general practices of the mutual fund at that moment. The only benefit she receives is a free monthly membership for her daughter that would usually cost $182. What should she do before making any recommendations, in order to comply with the CFA Institute requirements?

A)   Inform her current clients about her outside consulting.

B)   Obtain prior permission from her employer.

C)   Discontinue her membership in the Board of the Directors at the Skating Club.

D)   Consult only on her free time and do not accept any benefit greater than $100.

The correct answer was B)

According to Standard IV(A) Loyalty to Employer, it is the employee’s duty to inform the employer about any type of outside consulting service, including duration and any compensation. Only after receiving permission from her employer, can she proceed.

17、Jack Salyers, CFA, is considering starting his own firm to compete with his current employer. He takes several actions before turning in his resignation. Which of the following actions is NOT in violation of Standard IV(A), Loyalty to Employer?

A)   Before leaving, Jack solicits his employer's current clients.

B)   Jack told his employer that he was considering leaving and requested that the employer write him a letter of recommendation.

C)   Jack took home client lists and investment statements.

D)   Jack copied the employer's computer models and other property.

The correct answer was B)

Asking for a letter of recommendation is perfectly acceptable. Soliciting clients and taking the employer’s property like client lists, computer programs, etc. are not permissible.

18、Which of the following statements regarding employee/employer relationships is FALSE?

A)   A written contract may or may not exist between employer and employee.

B)   The employer has the power to control and direct the details of how work is to be performed.

C)   There must be monetary compensation for an employer/employee relationship to exist.

D)   An employee is someone in the service of another.

The correct answer was C)    

Monetary compensation is not a requirement of the employee/employer relationship.

19、When a CFA Institute member who is presently employed by a firm undertakes any independent practice, he must do all of the following EXCEPT:

A)   secure permission from the employer.

B)   describe the types of services the member will render to the prospective independent clients.

C)   disclose the expected duration of the services to be rendered.

D)   remand a percentage (to be determined by the employee and employer) of the income earned back to the employer.

The correct answer was D)

The member is obligated to get permission from his employer if he will be in any way competing with his current employer. They must provide notification to their employer describing the types of services to be rendered, the expected duration, and compensation for the services.

20、Jacob Allen, CFA, decides he could make more money if he started his own company. Which of the following steps would NOT violate Standard IV(A), Loyalty to Employer?

A)   Taking home his current employer's client lists, investment statements and marketing presentations.

B)   Copying his employer's computer models because they fit perfectly with his new business.

C)   Getting written permission from his employer to call the clients and solicit their business for his new firm.

D)   Taking home the employer's buy lists.

The correct answer was C)

If Jacob gets written permission from his employer to solicit their clients (not likely, obviously) he would not be violating the Loyalty to Employer Standard.