16、An analyst has not paid her CFA Institute dues for several years but has filed a professional conduct statement annually. Which of the following statements is TRUE regarding her status with CFA Institute? The analyst’s membership is:

A)   considered "inactive."

B)   temporarily suspended until she pays her dues.

C)   suspended and she is not considered a CFA charterholder.

D)   active, but she cannot use the CFA designation until her dues are paid in full.

17、All of the following situations violate Standard VII(B), Reference to CFA Institute, the CFA Designation, and the CFA Program, EXCEPT:

A)   John Cabell has satisfied all the requirements imposed by CFA Institute for the right to use the Chartered Financial Analyst designation. His business cards say: John Cabell, C.F.A.

B)   Amy Pardoe has successfully completed Level III of the CFA exam but has not completed all of the requirements imposed by CFA Institute to use the CFA designation. In her resume, she states: "I passed Level III of the CFA examination and expect to receive my CFA degree next year."

C)   Karen Wright received her CFA charter in 1980. In 2001, she stopped paying her annual CFA Institute dues. During her retirement speech in 2002, Wright said, "Although I am no longer an active CFA charterholder, I was awarded the right to use the CFA designation in 1980 and maintained active membership in CFA Institute for 20 years."

D)   Barney Latrell, when introducing himself to a prospective client, says, "I completed my CFA in 1995, which required passing three six-hour examinations over a three year period."

18、Anderson, Baker and Chang all received their CFA charters and ordered new business cards.  Their business cards are as follows:

Which of the business cards use the CFA marks improperly?

A)   Baker and Chang.

B)   Anderson, Baker and Chang.

C)   Anderson and Chang.

D)   Chang.

19、Janet Olson, CFA, is an analyst at Quantech Associates. Olson attended a conference at which Brian Wright presented several proprietary computerized spreadsheets that he had developed to value high-tech stocks. While at the conference, Olson copied the spreadsheets without Wright’s knowledge. Later, Olson made several minor changes to Wright’s initial model. After testing the revised model, Olson was impressed with the results. As inputs for the model, she used factual materials supplied by Moody’s Investors Service, a recognized financial and statistical reporting service. Olson wrote a research report describing the revised model and its results and distributed the report to Quantech’s clients. According to CFA Institute Standards of Professional Conduct, which of the following actions is Olson required to take? Olson is:

A)   required to seek authorization from Wright to copy the spreadsheets and acknowledge Wright for developing the initial model and Moody's Investors Service as the source of the data.

B)   required to acknowledge Moody's Investors Service as the source of the data but is not required to seek authorization from Wright to copy the spreadsheets or to acknowledge Wright for developing the initial model.

C)   required to seek the authorization from Wright to copy the spreadsheets, acknowledge Wright for developing the initial model but is not required to acknowledge Moody's Investors Service as the source of the data.

D)   not required to seek authorization from Wright to copy the spreadsheets or to acknowledge either Wright for developing the initial model or Moody's Investors Service as the source of the data.

20、Which of the following is an appropriate statement for a Level II CFA candidate to make?

A)   I am a Level I CFA charterholder.

B)   I will be a CFA charterholder within 2 years.

C)   I passed the Level I CFA exam last year.

D)   I am a Level II CFA.

21、When using the CFA designation, which of the following is appropriate?

A)   "I am a CFA."

B)   "I am a CFA charterholder."

C)   Jones CFA's, Inc.

D)   CFA's Co.

答案和详解如下：

16、An analyst has not paid her CFA Institute dues for several years but has filed a professional conduct statement annually. Which of the following statements is TRUE regarding her status with CFA Institute? The analyst’s membership is:

A)   considered "inactive."

B)   temporarily suspended until she pays her dues.

C)   suspended and she is not considered a CFA charterholder.

D)   active, but she cannot use the CFA designation until her dues are paid in full.

The correct answer was C)  

Standard VII(B), Reference to CFA Institute, the CFA Designation, and the CFA Program, applies. In order to use the CFA designation, the member must pay annual dues and submit a yearly Professional Conduct Statement.

17、All of the following situations violate Standard VII(B), Reference to CFA Institute, the CFA Designation, and the CFA Program, EXCEPT:

A)   John Cabell has satisfied all the requirements imposed by CFA Institute for the right to use the Chartered Financial Analyst designation. His business cards say: John Cabell, C.F.A.

B)   Amy Pardoe has successfully completed Level III of the CFA exam but has not completed all of the requirements imposed by CFA Institute to use the CFA designation. In her resume, she states: "I passed Level III of the CFA examination and expect to receive my CFA degree next year."

C)   Karen Wright received her CFA charter in 1980. In 2001, she stopped paying her annual CFA Institute dues. During her retirement speech in 2002, Wright said, "Although I am no longer an active CFA charterholder, I was awarded the right to use the CFA designation in 1980 and maintained active membership in CFA Institute for 20 years."

D)   Barney Latrell, when introducing himself to a prospective client, says, "I completed my CFA in 1995, which required passing three six-hour examinations over a three year period."

The correct answer was C)  

Wright’s statement did not violate Standard VII(B). Her right to use the CFA designation was suspended when she stopped paying dues but her statement is a matter of fact. Cabell’s violated Standard VII(B) because he improperly used the CFA designation on his business card. Proper usage of the CFA designation on his business card would be: John Cabell, CFA or John Cabell, Chartered Financial Analyst. Pardoe violated Standard VII(B) because she referred to the CFA designation as a degree. Latrell violated Standard VII(B) by using the CFA designation as a noun. The CFA mark must be used as an adjective. Latrell could have stated, “I was awarded the CFA charter in 1995.”

18、Anderson, Baker and Chang all received their CFA charters and ordered new business cards.  Their business cards are as follows:

G. J. Anderson, CFA

B. K. Baker, Chartered Financial Analyst

M. S. Chang, C.F.A

Which of the business cards use the CFA marks improperly?

A)   Baker and Chang.

B)   Anderson, Baker and Chang.

C)   Anderson and Chang.

D)   Chang.

The correct answer was D)

Consistent with Standard VII(B), members must use the CFA marks in a proper manner. Members may indicate “CFA” or “Chartered Financial Analyst” after their names, but the designation should not be given more prominence than that used in printing the name itself. Also, periods should not be used to separate the letters.

19、Janet Olson, CFA, is an analyst at Quantech Associates. Olson attended a conference at which Brian Wright presented several proprietary computerized spreadsheets that he had developed to value high-tech stocks. While at the conference, Olson copied the spreadsheets without Wright’s knowledge. Later, Olson made several minor changes to Wright’s initial model. After testing the revised model, Olson was impressed with the results. As inputs for the model, she used factual materials supplied by Moody’s Investors Service, a recognized financial and statistical reporting service. Olson wrote a research report describing the revised model and its results and distributed the report to Quantech’s clients. According to CFA Institute Standards of Professional Conduct, which of the following actions is Olson required to take? Olson is:

A)   required to seek authorization from Wright to copy the spreadsheets and acknowledge Wright for developing the initial model and Moody's Investors Service as the source of the data.

B)   required to acknowledge Moody's Investors Service as the source of the data but is not required to seek authorization from Wright to copy the spreadsheets or to acknowledge Wright for developing the initial model.

C)   required to seek the authorization from Wright to copy the spreadsheets, acknowledge Wright for developing the initial model but is not required to acknowledge Moody's Investors Service as the source of the data.

D)   not required to seek authorization from Wright to copy the spreadsheets or to acknowledge either Wright for developing the initial model or Moody's Investors Service as the source of the data.

The correct answer was C)  

To comply with Standard I(C) Misrepresentation, Olson should have gotten the authorization from Wright to copy the spreadsheets. The prohibition against plagiarism requires that Olson identify Wright as the source of the initial model. However, the Standard permits publishing factual information from Moody's Investors Service without acknowledgment because Moody's is recognized as a source of factual materials.

20、Which of the following is an appropriate statement for a Level II CFA candidate to make?

A)   I am a Level I CFA charterholder.

B)   I will be a CFA charterholder within 2 years.

C)   I passed the Level I CFA exam last year.

D)   I am a Level II CFA.

The correct answer was C)  

The only appropriate statement is “I passed the Level I CFA exam last year.” It is a factual statement and does not imply a partial designation, which does not exist. You also cannot claim when you will become a charterholder when you have no idea how long it will take you to complete the requirements.

21、When using the CFA designation, which of the following is appropriate?

A)   "I am a CFA."

B)   "I am a CFA charterholder."

C)   Jones CFA's, Inc.

D)   CFA's Co.

The correct answer was B)

The only appropriate use of the designation is “I am a CFA charterholder.” You cannot use the designation as a noun (as in “I am a CFA”) and you cannot use the designation in the company name.