Q2. Should Claudel decide to terminate his relationship with Vector, which of the following items can he NOT take with him?

A)   A marketing presentation he developed for Vector, but uses primarily in his side business.

B)   A list of consulting clients, with addresses and phone numbers.

C)   His Rolodex full of contacts in the brokerage and money-management business.

Q3. Claudel's statement about his education background is:

A)   truthful, but not in accord with the Code and Standards.

B)   truthful, and in accord with the Code and Standards.

C)   not truthful, and not in accord with the Code and Standards.

Q4. Which of the following statements is TRUE?

A)   Bonnet has violated Standard III(B): Fair Dealing, and Claudel has violated Standard I(B): Independence and Objectivity.

B)   Bonnet has violated Standard IV(A): Loyalty to Employer, and Claudel has violated Standard I(A): Knowledge of the Law.

C)   Bonnet has violated Standard II(A): Material Nonpublic Information, and Claudel has not violated Standard III(A): Loyalty, Prudence, and Care.

Q5. With regard to his consulting work, Claudel is:

A)   in competition with Vector because he advises individual investors, and in compliance with the Code and Standards.

B)   not in competition with Vector because Vector doesn’t trade Canadian securities, and in compliance with the Code and Standards.

C)   in competition with Vector because he advises individual investors, and not in compliance with the Code and Standards.

[此贴子已经被作者于2009-1-7 11:52:16编辑过]

答案和详解如下：

Q2. Should Claudel decide to terminate his relationship with Vector, which of the following items can he NOT take with him?

A)   A marketing presentation he developed for Vector, but uses primarily in his side business.

B)   A list of consulting clients, with addresses and phone numbers.

C)   His Rolodex full of contacts in the brokerage and money-management business.

Correct answer is A)

Marketing presentations and any other materials developed for an employer belong to the employer, not the employee, according to Standard IV(A): Loyalty to Employer. The fact that Claudel was already using the marketing presentation on his own in defiance of the Standard does not make it OK for him to take the presentation when he leaves. The rest of the items are Claudel’s personal property.

Q3. Claudel's statement about his education background is:

A)   truthful, but not in accord with the Code and Standards.

B)   truthful, and in accord with the Code and Standards.

C)   not truthful, and not in accord with the Code and Standards.

Correct answer is B)

Standard I(C) Misrepresentation states that "members shall not make any statements, orally or in writing, that misrepresent the member's academic or professional credentials." In this case, Claudel's statements are truthful, and are not a violation of the Standard. He could have been more clear, but what he said is undeniably correct. Whether Vector understood what he told them is not his problem, as long as he was truthful and did not attempt to deceive them.

Q4. Which of the following statements is TRUE?

A)   Bonnet has violated Standard III(B): Fair Dealing, and Claudel has violated Standard I(B): Independence and Objectivity.

B)   Bonnet has violated Standard IV(A): Loyalty to Employer, and Claudel has violated Standard I(A): Knowledge of the Law.

C)   Bonnet has violated Standard II(A): Material Nonpublic Information, and Claudel has not violated Standard III(A): Loyalty, Prudence, and Care.

Correct answer is B)

Bonnet violated several Standards, including IV(A) and II(B), by manipulating stock prices and profiting from that manipulation at the expense of other purchasers. Standard IV(A) requires that employees not act to injure the firm or deprive it of profits, and Bonnet’s personal trading and market manipulation crosses well over that line. However, Bonnet did not violate Standard II(A) Material Nonpublic Information because no nonpublic information was involved. Claudel violated Standard I(A) by contributing to Bonnet’s plans to break the law. Under the Code and Standards, Claudel cannot knowingly assist others who are violating the Standards or the law, even if he does not profit personally. While Claudel’s ethics are in question, nothing he did for Bonnet is likely to affect his independence, and he did not violate Standard I(B) Independence and Objectivity.

Q5. With regard to his consulting work, Claudel is:

A)   in competition with Vector because he advises individual investors, and in compliance with the Code and Standards.

B)   not in competition with Vector because Vector doesn’t trade Canadian securities, and in compliance with the Code and Standards.

C)   in competition with Vector because he advises individual investors, and not in compliance with the Code and Standards.

Correct answer is C)

Since Vector both possesses the capability and the willingness to trade in Canadian securities, Claudel’s activities clearly put him in competition with his employer. He has received permission from his employer to consult, but has not received permission from his consulting clients to take a job. As such, Claudel is not in compliance with the Code and Standards, as they require written permission from both parties.