CFA Level 1 －模考试题(2)(AM) Q1-5

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Question 1

According to CFA Institute's Standards of Professional Conduct, members shall not knowingly participate or assist in legal and ethical violations. An analyst:

A) must report all legal violations to the proper regulatory commission and is held responsible for participating in illegal acts when the law is evident to anyone knowing the law.

B) is held responsible for violations by others when the analyst is unaware of the facts giving rise to the violation.

C) is held responsible for participating in illegal acts when the law is evident to anyone knowing the law and can participate in a violation by having knowledge of the violation and taking no action to stop it or disassociate from it.

D) is held responsible for participating in illegal acts when the law is evident to anyone knowing the law and is held responsible for violations by others when the analyst is unaware of the facts giving rise to the violation.

Question 2

When a local or country-specific law conflicts with Global Investment Performance Standards (GIPS), a firm that wishes to present GIPS-compliant performance must:

A) comply with local law and may not claim compliance with GIPS.

B) comply with local law and disclose the conflict.

C) comply with GIPS or local law, whichever is stricter.

D) present its performance to domestic clients according to local law, but must present GIPS-compliant performance to foreign clients.

Question 3

Which of the following statements about the CFA Institute’s Professional Conduct Program (PCP) is least accurate?

A) PCP staff may initiate an inquiry based on a written complaint against a member, evidence of misconduct received through public sources, a report by a CFA Exam proctor, or self-disclosure by a member.

B) Possible sanctions include condemnation by a member’s peers or suspension of a candidate’s participation in the CFA Program.

C) Members who cooperate with a PCP inquiry by providing confidential client information to PCP staff are not in violation of Standard III(E) Preservation of Confidentiality.

D) If the Designated Officer determines that a sanction against a member is warranted, the member must either accept the sanction or lose the right to use the CFA designation.

Question 4

Recommended procedures for compliance with Standard IV(C), Responsibilities of Supervisors, are least likely to include:

A) designating a compliance officer and defining the officer's authority and responsibility.

B) outlining permissible conduct.

C) providing for mechanisms to report violations to the regulatory authorities.

D) writing clear and easy-to-understand compliance procedures and distributing them to the proper employees.

Question 5

Jason Jones, a stock broker who has completed Level 1 of the CFA program and is registered for Level 2, may:

A) use the CFA designation since he has passed the Level 1 exam.

B) claim the partial designation that CFA Institute allows for those who have partially completed the program.

C) refer to his participation in the CFA program but must state that he is a Level 2 candidate in the program.

D) only mention that he is involved in the CFA program when he has passed all three levels.