Q6. John Elliot, CFA, says that in issues of ethics he always puts the clients first according to the guidelines in the Code of Ethics. In doing so he is:

A)   correct.

B)   not correct, because his first duty is to the public.

C)   not correct, because no such ordering or priority is given in the Code.

Q7. Which of the following is a component of the Code of Ethics? CFA Institute members shall:

A)     not knowingly participate or assist in any violation of laws, rules, or regulations.

B)     use particular care in determining applicable fiduciary duty.

C)     use reasonable care and exercise independent professional judgment.

Q8. The CFA Institute Code of Ethics least likely requires a Member or Candidate to:

A)   Strive to maintain and improve the competence of others in the profession.

B)   Practice and encourage others to practice in a professional and ethical manner that will reflect credit on members and their profession.

C)   Understand and comply with all applicable laws, rules, and regulations.

Q9. According to the Code of Ethics, a member reflects credit on the profession when a member:

A)   consults with other members on a regular basis.

B)   practices in a professional and ethical manner.

C)   places the clients first.

Q10. Which of the following is least likely a component of the Code of Ethics? In dealing with the public, clients, prospects, employers, employees, and fellow members, CFA Institute members shall act with:

A)   integrity.

B)   respect.

C)   humility.

[此贴子已经被作者于2009-1-5 8:52:03编辑过]

答案和详解如下：

Q6. John Elliot, CFA, says that in issues of ethics he always puts the clients first according to the guidelines in the Code of Ethics. In doing so he is:

A)   correct.

B)   not correct, because his first duty is to the public.

C)   not correct, because no such ordering or priority is given in the Code.

Correct answer is C)

Component one mentions duties to the public, clients, prospects, employers, employees, and fellow members. No ordering of priorities is given.

Q7. Which of the following is a component of the Code of Ethics? CFA Institute members shall:

A)     not knowingly participate or assist in any violation of laws, rules, or regulations.

B)     use particular care in determining applicable fiduciary duty.

C)     use reasonable care and exercise independent professional judgment.

Correct answer is C)

Using reasonable care and exercising independent professional judgment is one of the components of the Code of Ethics, whereas the other statements are part of the Standards of Professional Conduct.

Q8. The CFA Institute Code of Ethics least likely requires a Member or Candidate to:

A)   Strive to maintain and improve the competence of others in the profession.

B)   Practice and encourage others to practice in a professional and ethical manner that will reflect credit on members and their profession.

C)   Understand and comply with all applicable laws, rules, and regulations.

Correct answer is C)

Understanding and complying with all applicable laws, rules, and regulations is required by Standard I(A) – Knowledge of the Law. The other choices are included in the Code of Ethics.

Q9. According to the Code of Ethics, a member reflects credit on the profession when a member:

A)   consults with other members on a regular basis.

B)   practices in a professional and ethical manner.

C)   places the clients first.

Correct answer is B)

Component four of the Code says that a member shall “Practice and encourage others to practice in a professional and ethical manner that will reflect credit on members and the profession.” Neither of the other choices are implied by the Code.

Q10. Which of the following is least likely a component of the Code of Ethics? In dealing with the public, clients, prospects, employers, employees, and fellow members, CFA Institute members shall act with:

A)   integrity.

B)   respect.

C)   humility.

Correct answer is C)

Although acting with humility may be desirable, CFA Institute members are not required to do so. However, they should act in a manner that reflects credit on themselves and their profession.

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