Q24. Is Johnson in violation of the Code and Standards if he informs the legal authorities that Campbell is attempting to hide assets from the courts?

A)   Yes, because he would be violating client-member confidentiality.

B)   Yes, because Johnson has only hearsay information about illegal activity and he would need written documentation to justify notifying the legal authorities.

C)   No, because Campbell has done something illegal.

Q25. Which of the following is NOT an act explicitly referred to in the Code of Ethics?

A)   Using reasonable care when making investment recommendations.

B)   Giving free introductory seminars on investing to the public.

C)   Improve professional competence.

Q26. 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 no such ordering or priority is given in the Code.

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

Q27. 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)   humility.

B)   integrity.

C)   respect.

Q28. The Code of Ethics does NOT explicitly say that a CFA Institute member shall do which of the following?

A)   Exercise independent professional judgment.

B)   Actively lobby for new laws to protect the public.

C)   Act with integrity.

答案和详解如下：

Q24. Is Johnson in violation of the Code and Standards if he informs the legal authorities that Campbell is attempting to hide assets from the courts?

A)   Yes, because he would be violating client-member confidentiality.

B)   Yes, because Johnson has only hearsay information about illegal activity and he would need written documentation to justify notifying the legal authorities.

C)   No, because Campbell has done something illegal.

Correct answer is C)

Johnson is not in violation of the Code and Standards if he informs the legal authorities that Campbell is attempting to hide assets from the courts, because Campbell has done something illegal. According to Standard III(E), the rules of confidentiality do not apply when a member receives information concerning illegal activities.

Q25. Which of the following is NOT an act explicitly referred to in the Code of Ethics?

A)   Using reasonable care when making investment recommendations.

B)   Giving free introductory seminars on investing to the public.

C)   Improve professional competence.

Correct answer is B)

Although the Code says a member has obligations to the public, educating the general public for whatever reason is not implied.

Q26. 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 no such ordering or priority is given in the Code.

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

Correct answer is B)

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

Q27. 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)   humility.

B)   integrity.

C)   respect.

Correct answer is A)

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.

Q28. The Code of Ethics does NOT explicitly say that a CFA Institute member shall do which of the following?

A)   Exercise independent professional judgment.

B)   Actively lobby for new laws to protect the public.

C)   Act with integrity.

Correct answer is B)

The Code of Ethics says nothing about a CFA Institute member lobbying for new laws. In fact, legal issues are not a part of the Code. The Standards of Professional Conduct say that the member shall obey laws.

thx