Q4. An investment advisor takes a trip for which his firm will pay the expenses. Upon his return he alters some of the numbers on restaurant receipts to inflate the expenses by $64. Is this a violation of Standard I(D)?

A)   No, if such a crime carries less than a one-year prison term.

B)   Yes, because it reflects adversely on the charterholder’s professional reputation.

C)   Yes, because the amount involved is over $50.

Q5. An analyst belongs to a nationally recognized charitable organization, which requires dues for membership. The analyst has worked out a deal under which he provides money management advice in lieu of paying dues. While performing services for the organization, the analyst discovers some useful computer programs that his predecessor developed and left as the property of the organization. The analyst decides to use the computer programs in his consulting business. This action is:

A)   a violation of Standard I(D) concerning misconduct.

B)   appropriate since the analyst is technically an employee of the organization.

C)   a violation of Standard III(B) concerning fair dealing.

Q6. All of the following are violations of Standard I(D), Misconduct, EXCEPT:

A)   conviction of a misdemeanor involving civil disobedience in support of one’s personal beliefs.

B)   conviction of a crime involving fraud.

C)   any conduct that undermines confidence that the CFA charter represents a level of achievement based on merit and ethical conduct.

答案和详解如下：

Q4. An investment advisor takes a trip for which his firm will pay the expenses. Upon his return he alters some of the numbers on restaurant receipts to inflate the expenses by $64. Is this a violation of Standard I(D)?

A)   No, if such a crime carries less than a one-year prison term.

B)   Yes, because it reflects adversely on the charterholder’s professional reputation.

C)   Yes, because the amount involved is over $50.

Correct answer is B)

Professional conduct involving dishonesty, fraud, or deceit is a direct violation of Standard I(D), Misconduct.

Q5. An analyst belongs to a nationally recognized charitable organization, which requires dues for membership. The analyst has worked out a deal under which he provides money management advice in lieu of paying dues. While performing services for the organization, the analyst discovers some useful computer programs that his predecessor developed and left as the property of the organization. The analyst decides to use the computer programs in his consulting business. This action is:

A)   a violation of Standard I(D) concerning misconduct.

B)   appropriate since the analyst is technically an employee of the organization.

C)   a violation of Standard III(B) concerning fair dealing.

Correct answer is A)

Since the programs are the property of the organization, the analyst can only use them for the organization. It does not matter whether the analyst is an employee or not. Personal use of the programs without permission from the charitable organization is dishonest and prohibited.

Q6. All of the following are violations of Standard I(D), Misconduct, EXCEPT:

A)   conviction of a misdemeanor involving civil disobedience in support of one’s personal beliefs.

B)   conviction of a crime involving fraud.

C)   any conduct that undermines confidence that the CFA charter represents a level of achievement based on merit and ethical conduct.

Correct answer is A)

The Code and Standards do not focus on personal conduct as long as the conduct does not reflect poorly on one’s professional reputation, integrity, or competence.