Q11. Which of the following statements about Standard IV(C), Responsibilities of Supervisors, is FALSE? CFA Institute members with supervisory authority:

A)   are expected to bring an inadequate compliance system to the attention of the firm's senior managers and recommend corrective action.

B)   are expected to have in-depth knowledge of the Code and Standards and to apply this knowledge in discharging their supervisory responsibilities.

C)   may delegate supervisory duties, which relieves them of their supervisory authority.

Q12. A manager has pointed out that his firm has experienced significant expansion over the past few years. Until recently, its Legal Department was responsible for the firm's compliance activities. Now, however, the legal and compliance functions have been separated. A compliance officer has been formally designated and a comprehensive compliance program has been put in place.

In order to function effectively, the compliance officer must have the authority:

A)   to hire and fire personnel.

B)   to affect, control, and guide employee behavior and to respond to employee misconduct.

C)   which is consistent with the most senior partner or executive officer in the firm.

.

Q13. A firm recently hired Jill Taylor to be a managing supervisor in the firm. Taylor knows that all of her subordinate supervisors are members of CFA Institute and that they have a compliance system in place with respect to the Code and Standards. Under these conditions Taylor needs to:

A)   review the compliance system for its adequacy.

B)   neither of these choices.

C)   rely on the current compliance system since the subordinate supervisors are subject to the Code and Standards.

Q14. According to Standard IV(C), a CFA Institute member who is in a supervisory role must have which of the following?

A)   Both of these.

B)   An in-depth knowledge of the Code and Standards.

C)   A graduate degree.

答案和详解如下：

Q11. Which of the following statements about Standard IV(C), Responsibilities of Supervisors, is FALSE? CFA Institute members with supervisory authority:

A)   are expected to bring an inadequate compliance system to the attention of the firm's senior managers and recommend corrective action.

B)   are expected to have in-depth knowledge of the Code and Standards and to apply this knowledge in discharging their supervisory responsibilities.

C)   may delegate supervisory duties, which relieves them of their supervisory authority.

Correct answer is C)         

Standard IV(C) permits members to delegate supervisory duties but such delegation does not relieve members of their supervisory responsibility.

Q12. A manager has pointed out that his firm has experienced significant expansion over the past few years. Until recently, its Legal Department was responsible for the firm's compliance activities. Now, however, the legal and compliance functions have been separated. A compliance officer has been formally designated and a comprehensive compliance program has been put in place.

In order to function effectively, the compliance officer must have the authority:

A)   to hire and fire personnel.

B)   to affect, control, and guide employee behavior and to respond to employee misconduct.

C)   which is consistent with the most senior partner or executive officer in the firm.

Correct answer is B)         

Compliance officers must be able to guide employee behavior and respond to employee misconduct, otherwise there will be no effective compliance procedures in place. Unless the compliance officer can effectuate compliance procedures, the compliance program has no chance of responding to or preventing violations of the Standards.

Q13. A firm recently hired Jill Taylor to be a managing supervisor in the firm. Taylor knows that all of her subordinate supervisors are members of CFA Institute and that they have a compliance system in place with respect to the Code and Standards. Under these conditions Taylor needs to:

A)   review the compliance system for its adequacy.

B)   neither of these choices.

C)   rely on the current compliance system since the subordinate supervisors are subject to the Code and Standards.

Correct answer is A)

According to Standard IV(C), Responsibilities of Supervisors, Taylor must make reasonable efforts to detect violations of law, rules, regulations, and Code and Standards. This responsibility is not eliminated because the Taylor’s subordinates are CFA Charterholders. Taylor should review the compliance system and report any inadequacies to senior management.

Q14. According to Standard IV(C), a CFA Institute member who is in a supervisory role must have which of the following?

A)   Both of these.

B)   An in-depth knowledge of the Code and Standards.

C)   A graduate degree.

Correct answer is B)

The only requirement for a supervisor is an in-depth knowledge of the Code and Standards. Neither of the other choices are required.