Board logo

标题: Reading 2-I: Standards of Professional Conduct & Guidanc [打印本页]

作者: mayanfang1    时间: 2008-12-30 14:35     标题: [2009] Session 1-Reading 2-I: Standards of Professional Conduct & Guidance: P

Q1.The CFA Institute Standards of Practice Handbook requires CFA Institute members to do all the following EXCEPT:

A)  receive written permission from both their employer and outside clients to engage in investment consulting outside the firm.

B)  to inform employer, clients, and potential clients of benefits received for recommending products or services.

C)  to disclose in writing to the proper regulatory authority all observed violations of the securities laws and regulations.

  Q2.WEB, an investment-banking firm, is the principal underwriter for MTEX's upcoming debenture issue. Wendy Berry, CFA, an analyst with WEB, has found out from an employee in MTEX's programming department that a serious glitch was recently discovered in the software program of their major new product line. In fact, the glitch is so bad that most of their orders have been canceled. Berry checked the debenture's prospectus and found no mention of this development. The red herring prospectus has already been distributed. Berry's best course of action is to:

A)  notify potential investors of the omission on a fair and equitable basis.

B)  inform her immediate supervisor at WEB of her discovery.

C)  keep quiet since this is material non-public inside information.

  Q3.Josh LeBlanc, a CFA charterholder, is an investment analyst for a small stock brokerage firm. He wants to acquire and maintain knowledge about applicable laws, rules, and regulations relating to his professional activities. According to the CFA Institute Standards of Professional Conduct, which of the following ways is least likely to meet compliance procedures?

A)  Review written compliance procedures on a regular basis.

B)  Rely on past practices followed within his firm.

C)  Keep informed about changes in applicable laws, rules, and regulations.

  Q4.Don Roberts, a CFA Institute member, resides in Country L, where the securities laws and regulations are less strict than the CFA Institute Code and Standards. Roberts also does business in Country N, which has no securities laws or regulations. Thus, Country N has no laws prohibiting the use of material nonpublic information. Roberts has clients in both Country L and N. Country L's law states that the law of the locality where business is conducted governs. According to CFA Institute Standards of Professional Conduct about the use of material nonpublic information, Roberts may:

A)  take investment action based on this information for clients in both Country N and Country L and for himself.

B)  not take investment action on the basis of this information.

C)  take investment action based on this information only for his clients in Country N but not for his clients in Country L or himself.

Q5.According to the CFA Institute Standards of Professional Conduct, Standard I(A), Knowledge of the Law, members shall not knowingly participate or assist in any violations of laws, rules, or regulations. An analyst:

A)  is held responsible for participating in illegal acts when the law is evident to anyone knowing the law and is held responsible for violations by others when the analyst is unaware of the facts giving rise to the violation.

B)  is held responsible for participating in illegal acts when the law is evident to anyone knowing the law and can participate in a violation by having knowledge of the violation and taking no action to stop it or disassociate from it.

C)  must report all legal violations to the proper regulatory commission and is held responsible for participating in illegal acts when the law is evident to anyone knowing the law.


作者: mayanfang1    时间: 2008-12-30 14:36

答案和详解如下:

Q1.The CFA Institute Standards of Practice Handbook requires CFA Institute members to do all the following EXCEPT:

A)  receive written permission from both their employer and outside clients to engage in investment consulting outside the firm.

B)  to inform employer, clients, and potential clients of benefits received for recommending products or services.

C)  to disclose in writing to the proper regulatory authority all observed violations of the securities laws and regulations.

  Correct answer is C)

Members are not required to report violations of others to regulatory authorities, either verbally or in writing, but such reporting may be prudent.

Q2.WEB, an investment-banking firm, is the principal underwriter for MTEX's upcoming debenture issue. Wendy Berry, CFA, an analyst with WEB, has found out from an employee in MTEX's programming department that a serious glitch was recently discovered in the software program of their major new product line. In fact, the glitch is so bad that most of their orders have been canceled. Berry checked the debenture's prospectus and found no mention of this development. The red herring prospectus has already been distributed. Berry's best course of action is to:

A)  notify potential investors of the omission on a fair and equitable basis.

B)  inform her immediate supervisor at WEB of her discovery.

C)  keep quiet since this is material non-public inside information.

  Correct answer is B)

Berry should report this information only to her immediate supervisor. Subsequently, she and her supervisor may consult with legal counsel concerning the competing issues in this situation. For the present, she should avoid disclosure to colleagues who do not need to know the information and she should also avoid disclosure to clients.

Q3.Josh LeBlanc, a CFA charterholder, is an investment analyst for a small stock brokerage firm. He wants to acquire and maintain knowledge about applicable laws, rules, and regulations relating to his professional activities. According to the CFA Institute Standards of Professional Conduct, which of the following ways is least likely to meet compliance procedures?

A)  Review written compliance procedures on a regular basis.

B)  Rely on past practices followed within his firm.

C)  Keep informed about changes in applicable laws, rules, and regulations.

  Correct answer is B)

LeBlanc should follow the compliance procedures under Standard IA -- Knowledge of the law. Relying on his firm’s past practices may be insufficient for LeBlanc to stay current with changes in applicable laws, rules, and regulations.

Q4.Don Roberts, a CFA Institute member, resides in Country L, where the securities laws and regulations are less strict than the CFA Institute Code and Standards. Roberts also does business in Country N, which has no securities laws or regulations. Thus, Country N has no laws prohibiting the use of material nonpublic information. Roberts has clients in both Country L and N. Country L's law states that the law of the locality where business is conducted governs. According to CFA Institute Standards of Professional Conduct about the use of material nonpublic information, Roberts may:

A)  take investment action based on this information for clients in both Country N and Country L and for himself.

B)  not take investment action on the basis of this information.

C)  take investment action based on this information only for his clients in Country N but not for his clients in Country L or himself.

 Correct answer is B)

Because applicable law states that the law of the locality where the business is conducted governs and local law is less strict than the Code and Standards, the member must adhere to the Code and Standards. Standard II(A) prohibits the use of material nonpublic information.

Q5.According to the CFA Institute Standards of Professional Conduct, Standard I(A), Knowledge of the Law, members shall not knowingly participate or assist in any violations of laws, rules, or regulations. An analyst:

A)  is held responsible for participating in illegal acts when the law is evident to anyone knowing the law and is held responsible for violations by others when the analyst is unaware of the facts giving rise to the violation.

B)  is held responsible for participating in illegal acts when the law is evident to anyone knowing the law and can participate in a violation by having knowledge of the violation and taking no action to stop it or disassociate from it.

C)  must report all legal violations to the proper regulatory commission and is held responsible for participating in illegal acts when the law is evident to anyone knowing the law.

Correct answer is B)

If you suspect someone is planning or engaging in illegal activities, you should:

1.Determine the legality of the activities. Consult your supervisor and legal counsel.

2.Take appropriate action. Disassociate, attempt to persuade the perpetrator to stop. CFA Institute does not require you to report them to the authorities, but the law might.


作者: niqiu2004    时间: 2009-1-3 22:55

[em17]
作者: zeraeh    时间: 2009-2-15 19:52

看答案,谢谢LZ

作者: keslo    时间: 2009-3-1 05:55

谢谢,看答案。
作者: 水上小又    时间: 2009-3-1 13:24

bb
作者: cleany0716    时间: 2009-3-1 21:21

 问我
作者: mydreamcfa    时间: 2009-3-5 09:08

cc
作者: 0407956    时间: 2009-3-8 02:21

thx

 


作者: wildwolf06    时间: 2009-3-8 17:16

ssdf
作者: 聂雅雯    时间: 2009-3-8 22:03

huhu


作者: frank45_21    时间: 2009-3-10 16:54

look
作者: omegadelta    时间: 2009-3-10 22:51

看看谢谢

 


作者: hhzeng    时间: 2009-3-11 08:59

thanks
作者: erpang8888    时间: 2009-3-15 21:59

a
作者: xywwyx    时间: 2009-3-16 11:05

q
作者: fange520    时间: 2009-3-16 22:01

cbbba
作者: meinexl    时间: 2009-3-18 04:54

谢谢LZ,好心啊
作者: zjnhwmssj    时间: 2009-3-18 11:59

d
作者: suodi    时间: 2009-3-19 13:09

[em50]
作者: mcdullpong    时间: 2009-3-24 23:17

thks

作者: weishen57    时间: 2009-3-25 16:56

dd
作者: wangyoucao    时间: 2009-3-26 09:40

ding ding ding
作者: weishen57    时间: 2009-3-26 12:51

dd
作者: littlenail    时间: 2009-3-26 14:13

谢谢分享!!
作者: hjl2000    时间: 2009-3-27 14:47

ok
作者: simen_wu    时间: 2009-3-27 21:28

good


作者: 孟娅    时间: 2009-3-28 00:40     标题: 3KU

3ku 4 SHARING
作者: kgbvvsscia    时间: 2009-4-2 08:58

谢谢啦 啊
作者: gracesun    时间: 2009-4-3 03:21

 thanks
作者: connie198226    时间: 2009-4-5 13:20

ss
作者: 蓝山咖啡    时间: 2009-4-6 21:24

 let's see the answer

[此贴子已经被作者于2009-4-6 21:24:35编辑过]


作者: dynamic    时间: 2009-4-7 23:13

thx
作者: big36999    时间: 2009-4-13 03:51

xx
作者: zeex100    时间: 2009-4-16 11:01

thanks
作者: freyjia    时间: 2009-4-24 00:19

xx


作者: rosemarie    时间: 2009-4-24 15:10

[em01]
作者: john40    时间: 2009-4-26 16:02

aa
作者: helloalan    时间: 2009-4-27 13:51

第5题不明白
作者: dullmul    时间: 2009-5-4 09:34

thx
作者: francisca    时间: 2009-5-4 12:16

thx
作者: wangrr    时间: 2009-5-6 21:15

非常感激
作者: jacky_lu79    时间: 2009-5-7 13:45

 多谢
作者: plee1986    时间: 2009-5-9 13:33

thx
作者: powerhql    时间: 2009-5-11 17:07

need an answer
作者: MMcharming    时间: 2009-5-11 18:01

[em52][em51]
作者: ytmm    时间: 2009-5-24 11:47

 THX
作者: deqiang    时间: 2009-5-26 02:30

 ok
作者: youngfwang    时间: 2009-5-26 22:26

qq
作者: rossoneri    时间: 2009-5-26 22:37

 看答案,谢谢~
作者: itispig2    时间: 2009-5-27 14:36

thanks
作者: jw564    时间: 2009-5-27 19:29

thx
作者: ray0106    时间: 2009-5-28 00:28

D
作者: li1127217ye    时间: 2009-5-28 01:23

1
作者: drofxo    时间: 2009-5-29 02:37

I profassionism
作者: vivianegao    时间: 2009-5-31 08:32

 thanks
作者: nkding    时间: 2009-5-31 15:56

a
作者: indrax    时间: 2009-5-31 16:39

thx
作者: mma03    时间: 2009-6-2 02:18

thx
作者: mma03    时间: 2009-6-2 02:23

thx
作者: dxxiao    时间: 2009-6-2 21:21

c


作者: 柠檬伴侣    时间: 2009-6-5 16:38

re
作者: ch_914    时间: 2009-7-17 19:41

thanks
作者: 不能再不过了    时间: 2009-7-29 00:38

 nice
作者: hijacker    时间: 2009-7-29 17:58

ty
作者: jmchen    时间: 2009-7-30 04:30

 [em52]
作者: qjasmine    时间: 2009-8-3 21:24

thx
作者: luodan0103    时间: 2009-8-25 18:33

thanks
作者: greentree1234    时间: 2009-8-30 13:43

看看
作者: ronalcui    时间: 2009-8-30 21:32

先体验一下,多谢楼主晒题,十分感谢
作者: psduo    时间: 2009-9-2 13:35

reee
作者: tobuketsu    时间: 2009-9-3 18:35     标题: reply

thanks

 


作者: ohwow_my    时间: 2009-9-9 11:18

 thanks
作者: kin009    时间: 2009-9-9 21:04

A
作者: fangsiyuan    时间: 2009-9-17 13:01

thx
作者: tomathome    时间: 2009-9-24 11:10

cbbbc
作者: casey11    时间: 2009-9-24 12:49

好。。。


作者: celinawang    时间: 2009-9-25 21:20

thxs
作者: ganbaru2010    时间: 2009-9-26 20:30

thank you!!!
作者: BoyaDeng    时间: 2009-9-27 00:40

thanks


作者: garmun    时间: 2009-10-6 23:25

 thanks
作者: wanda    时间: 2009-10-13 16:35

222
作者: violabest    时间: 2009-10-14 03:32

D
作者: oneonezq    时间: 2009-10-15 07:49


作者: lxjruc82    时间: 2009-10-18 23:02

thx

 


作者: wanneng423    时间: 2009-11-2 02:49

[2009] Session 1-Reading 2-I: Standards of Professional Conduct & Guidance: Professionalism- LOS A
作者: wenqian    时间: 2009-11-2 11:38

ss
作者: tin_wo    时间: 2009-11-2 13:40

thanks

 


作者: solitute    时间: 2009-11-2 15:28

thanks
作者: sophia_hh    时间: 2009-11-10 15:47

efe
作者: avayeye    时间: 2009-11-10 23:42

嘿嘿
作者: shjens    时间: 2009-11-11 01:28     标题: thx

thx
作者: haisian    时间: 2009-11-11 11:17

O(∩_∩)O谢谢
作者: r95323022    时间: 2009-11-12 20:27     标题: 感謝分享,受益無窮。

感謝分享,受益無窮。
作者: mmao    时间: 2009-11-14 00:35

 rtjrjrt
作者: dreamkhole    时间: 2009-11-14 10:42

thanks
作者: mh2ii    时间: 2009-11-14 12:57

yes
作者: shwhana    时间: 2009-11-16 21:07

看看答案,谢谢。
作者: bjorkfish    时间: 2009-11-17 13:37

 tx
作者: whjens    时间: 2009-11-19 17:53     标题: g

c




欢迎光临 CFA论坛 (http://forum.theanalystspace.com/) Powered by Discuz! 7.2