11、Dixie Miller, CAIA, and Level II CFA candidate, heads the research department of a large brokerage firm. The firm has many analysts, some of whom are subjected to the CFA Institute Code of Ethics and Standards of Professional Conduct. If Miller delegates some of her supervisory duties, which statement best describes her responsibilities under the CFA Institute Code and Standards?

A)   CFA Institute Standards prevent Miller from delegating supervisory duties to subordinates.

B)   Miller retains supervisory responsibilities for those duties delegated to her subordinates.

C)   Miller's supervisory responsibilities do not apply to those subordinates who are not subjected to the CFA Institute Code and Standards.

D)   Miller no longer has supervisory responsibility for those duties delegated to her subordinates.

12、According to the CFA Institute Standards of Professional Conduct, which of the following statements about members with supervisory responsibility is FALSE? Members with supervisory responsibility:

A)   are relieved of their supervisory responsibility if they delegate their supervisory duties to other members of CFA Institute.

B)   must make reasonable efforts to detect violation of laws, rules, regulations, and the Code and Standards.

C)   are expected to have in-depth knowledge of the Code and Standards and to apply this knowledge in discharging their supervisory responsibilities.

D)   should bring an inadequate compliance system to the attention of the firm's senior managers and recommend corrective action.

13、For years John Berger, a CFA charterholder and CEO of a company, relied upon a set of reasonable procedures for preventing violations of the Code and Standards of Professional Conduct in the firm. To not be liable for a violation of the Standards, Berger must:

A)   do nothing more than have the set of procedures in place as stated.

B)   periodically review the procedures.

C)   ensure the procedures are monitored and enforced.

D)   both periodically review the procedures and ensure the procedures are monitored and enforced.

答案和详解如下：

11、Dixie Miller, CAIA, and Level II CFA candidate, heads the research department of a large brokerage firm. The firm has many analysts, some of whom are subjected to the CFA Institute Code of Ethics and Standards of Professional Conduct. If Miller delegates some of her supervisory duties, which statement best describes her responsibilities under the CFA Institute Code and Standards?

A)   CFA Institute Standards prevent Miller from delegating supervisory duties to subordinates.

B)   Miller retains supervisory responsibilities for those duties delegated to her subordinates.

C)   Miller's supervisory responsibilities do not apply to those subordinates who are not subjected to the CFA Institute Code and Standards.

D)   Miller no longer has supervisory responsibility for those duties delegated to her subordinates.

The correct answer was B)

Even though members may delegate supervisory duties, such delegation does not relieve members of the supervisory responsibility.

12、According to the CFA Institute Standards of Professional Conduct, which of the following statements about members with supervisory responsibility is FALSE? Members with supervisory responsibility:

A)   are relieved of their supervisory responsibility if they delegate their supervisory duties to other members of CFA Institute.

B)   must make reasonable efforts to detect violation of laws, rules, regulations, and the Code and Standards.

C)   are expected to have in-depth knowledge of the Code and Standards and to apply this knowledge in discharging their supervisory responsibilities.

D)   should bring an inadequate compliance system to the attention of the firm's senior managers and recommend corrective action.

The correct answer was A)

Although members who supervise large numbers of employees may delegate supervisory duties, such delegation does not relieve them of their supervisory responsibility.

13、For years John Berger, a CFA charterholder and CEO of a company, relied upon a set of reasonable procedures for preventing violations of the Code and Standards of Professional Conduct in the firm. To not be liable for a violation of the Standards, Berger must:

A)   do nothing more than have the set of procedures in place as stated.

B)   periodically review the procedures.

C)   ensure the procedures are monitored and enforced.

D)   both periodically review the procedures and ensure the procedures are monitored and enforced.

The correct answer was D)    

As a CEO, Berger is responsible for implementing and maintaining appropriate compliance procedures. He must also ensure the procedures are monitored and enforced.