Q11. 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)   disclose the expected duration of the services to be rendered.

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

C)   secure permission from the employer.

Q12. 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)   Jack told his employer that he was considering leaving and requested that the employer write him a letter of recommendation.

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

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

Q13. 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)   Consult only on her free time and do not accept any benefit greater than $100.

C)   Obtain prior permission from her employer.

Q14. Pamela Gee is a portfolio manager. She is planning to establish her own money management firm. She has already informed her employer, Branford, Inc., about her plans. In her remaining time at Branford, she can:

A)   start the registration of her new company.

B)   solicit Branford colleagues but not Branford clients.

C)   inform her current clients about her resignation and let them know how to reach her, in case any problems arise in the future.

答案和详解如下：

Q11. 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)   disclose the expected duration of the services to be rendered.

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

C)   secure permission from the employer.

Correct answer is B)

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.

Q12. 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)   Jack told his employer that he was considering leaving and requested that the employer write him a letter of recommendation.

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

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

Correct answer is A)

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.

Q13. 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)   Consult only on her free time and do not accept any benefit greater than $100.

C)   Obtain prior permission from her employer.

Correct answer is C)

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.

Q14. Pamela Gee is a portfolio manager. She is planning to establish her own money management firm. She has already informed her employer, Branford, Inc., about her plans. In her remaining time at Branford, she can:

A)   start the registration of her new company.

B)   solicit Branford colleagues but not Branford clients.

C)   inform her current clients about her resignation and let them know how to reach her, in case any problems arise in the future.

Correct answer is A)

The only action that will not breach Standard IV(A) Loyalty to Employer, is to start the registration of her new company.

thanks

谢

3x