Q1. Greg Stiles, CFA, CAIA, has recently liquidated most of a client’s portfolio because the client is planning to buy a house. Stiles informs one of the brokers in his office who has his real estate license about the plans of his client. With respect to Standard III(E), Preservation of Confidentiality, this action:

A)   violates the Standard unless the client asks Stiles to tell the licensed salesman.

B)   is appropriate since Stiles keeps the information in the firm.

C)   is appropriate since Stiles only tells a licensed salesman.

Q2. Greg Stiles, CFA, may withhold from CFA Institute information about a client acquired in the regular performance of his duties:

A)   for neither of the reasons listed.

B)   only if Stiles is a relative of the client.

C)   only if Stiles has a special confidentiality agreement with the client.

Q3. Standard III(E), Preservation of Confidentiality, applies to the information that an analyst learns from:

A)   current clients and prospects only.

B)   current clients and former clients only.

C)   current clients, former clients, and prospects.

Q4. While servicing his clients’ accounts, an analyst who is a CFA charterholder, determines that one client is probably involved in illegal activities. According to Standard III(E), Preservation of Confidentiality, the analyst may NOT do which of the following?

A)   Contact CFA Institute about the determination.

B)   Contact the appropriate governmental authorities about the determination.

C)   There are no exceptions in this list.

Q5. While servicing his clients’ accounts, an analyst who is a CFA charterholder, determines that one client is probably involved in illegal activities. According to Standard III(E), Preservation of Confidentiality, the analyst may NOT do which of the following?

A)   Contact CFA Institute about the determination.

B)   Both contact CFA Institute and governmental authorities.

C)   There are no exceptions in this list.

[此贴子已经被作者于2009-1-9 15:58:03编辑过]

答案和详解如下：

Q1. Greg Stiles, CFA, CAIA, has recently liquidated most of a client’s portfolio because the client is planning to buy a house. Stiles informs one of the brokers in his office who has his real estate license about the plans of his client. With respect to Standard III(E), Preservation of Confidentiality, this action:

A)   violates the Standard unless the client asks Stiles to tell the licensed salesman.

B)   is appropriate since Stiles keeps the information in the firm.

C)   is appropriate since Stiles only tells a licensed salesman.

Correct answer is A)

According to Standard III(E), Preservation of Confidentiality, Stiles must keep client information confidential and limit the information to those people directly related to servicing the client. Merely working in the same firm does not qualify a person for learning about the client of a fellow analyst.

Q2. Greg Stiles, CFA, may withhold from CFA Institute information about a client acquired in the regular performance of his duties:

A)   for neither of the reasons listed.

B)   only if Stiles is a relative of the client.

C)   only if Stiles has a special confidentiality agreement with the client.

Correct answer is A)

According to Standard III(E), Preservation of Confidentiality, Stiles may not withhold information under any of the listed reasons. The reason is that CFA Institute will keep the information confidential.

Q3. Standard III(E), Preservation of Confidentiality, applies to the information that an analyst learns from:

A)   current clients and prospects only.

B)   current clients and former clients only.

C)   current clients, former clients, and prospects.

Correct answer is C)

According to Standard III(E), Preservation of Confidentiality, an analyst must preserve the confidentiality of information communicated by clients, former clients, and prospects.

Q4. While servicing his clients’ accounts, an analyst who is a CFA charterholder, determines that one client is probably involved in illegal activities. According to Standard III(E), Preservation of Confidentiality, the analyst may NOT do which of the following?

A)   Contact CFA Institute about the determination.

B)   Contact the appropriate governmental authorities about the determination.

C)   There are no exceptions in this list.

Correct answer is C)

Standard III(E) allows an analyst to reveal information about a client to CFA Institute since CFA Institute will keep the information confidential. If the analyst is reasonably certain a law has been violated, an analyst may have an obligation to report the activities to the appropriate authorities. Therefore, neither of the listed actions are exceptions from the analyst’s options.

Q5. While servicing his clients’ accounts, an analyst who is a CFA charterholder, determines that one client is probably involved in illegal activities. According to Standard III(E), Preservation of Confidentiality, the analyst may NOT do which of the following?

A)   Contact CFA Institute about the determination.

B)   Both contact CFA Institute and governmental authorities.

C)   There are no exceptions in this list.

Correct answer is C)

Standard III(E) allows an analyst to reveal information about a client to CFA Institute since CFA Institute will keep the information confidential. If the analyst is reasonably certain a law has been violated, an analyst may have an obligation to report the activities to the appropriate authorities. Therefore, none of the listed actions are exceptions from the analyst’s options.