答案和详解如下： 1、All of the following are poor examples of supervisory responsibility EXCEPT: A) Proper supervision is not exercised because the supervisor's income is partially based on unsupervised or improper trading activity. B) Poor procedures allow a portfolio manager to designate a trade to an account or portfolio after the outcome of the trade is known. C) Incorporating a professional conduct evaluation as part of an employee’s performance review. D) Procedures are not followed, allowing fraudulent bids designed to circumvent the securities laws. The correct answer was C) According to Standard IV(C), supervisors must make reasonable efforts to detect and prevent violations of laws, rules, regulations, and the Code and Standards by anyone under their authority. Incorporating a professional conduct evaluation as part of an employee’s performance review is a recommended compliance procedure. 2、Dixie Miller, CAIA, and Level II CFA candidate, heads the research department of a large brokerage firm. The firm has many analysts, some of whom are subjected to the CFA Institute Code of Ethics and Standards of Professional Conduct. If Miller delegates some of her supervisory duties, which statement best describes her responsibilities under the CFA Institute Code and Standards? A) CFA Institute Standards prevent Miller from delegating supervisory duties to subordinates. B) Miller's supervisory responsibilities do not apply to those subordinates who are not subjected to the CFA Institute Code and Standards. C) Miller retains supervisory responsibilities for those duties delegated to her subordinates. D) Miller no longer has supervisory responsibility for those duties delegated to her subordinates. The correct answer was C) Even though members may delegate supervisory duties, such delegation does not relieve members of the supervisory responsibility. 3、Jess Green, CFA, is the research director for Castle Investment, Inc., and has supervisory responsibility over eight analysts, including three CFA charterholders. Castle has a compliance program in place. According to CFA Institute Standards of Professional Conduct, which of the following is NOT an action that Green should take to adhere to the compliance procedures involving responsibilities of supervisors? Green should: A) incorporate a professional conduct evaluation as part of the performance review only for the three CFA charterholders. B) disseminate the contents of the compliance program to the eight analysts. C) educate all analysts under his supervision about the compliance procedures. D) issue periodic reminders of the procedures to all analysts under his supervision. The correct answer was A) Green should incorporate a professional conduct evaluation as part of his review of all eight analysts under his supervision, not just the three CFA charterholders. 4、Martin Tripp, CFA, is vice-president of the equity department at Walker Financial, a large money management firm. Of the twenty analysts in his department for whom he has supervisory responsibility, eight are subject to CFA Institute Standards of Professional Conduct. Tripp believes that he cannot personally evaluate the conduct of the twenty analysts on a continuing basis. Therefore, he plans to delegate some of his supervisory duties to Sarah Green, who is subject to the Standards, and some to Bob Brown, who is not subject to the Standards. According to CFA Institute Standards of Professional Conduct, which of the following statements about Tripp's ability to delegate supervisory duties is most correct? A) Tripp cannot delegate any of his supervisory duties to either Green or Brown. B) Tripp can delegate some or all of his supervisory duties only to Green because she is subject to the Standards. C) Trip can delegate some of his supervisory duties to Green and the remainder to Brown and, therefore, relieve himself of his supervisory responsibility. D) Tripp can delegate some or all of his supervisory duties to Brown, even though Brown is not subject to the Standards. The correct answer was D) Standard IV(C), Responsibilities of Supervisors, permits Tripp to delegate supervisory duties to Green, Brown, or both, but such delegation does not relieve Tripp of his supervisory responsibility. 5、For many years, John Berger, CFA, has been a mentor of Bob Chennings, a family friend, who just earned the CFA designation. Berger is the CEO of a firm that just hired Chennings, but the hiring was done at a lower level so Berger and Chennings have no direct contact in the daily operation of the firm. With respect to Standard IV(C), Responsibilities of Supervisors, Berger: A) must develop a set of written procedures to prevent violations derived from his mentoring Chennings. B) must routinely evaluate Chennings' performance. C) must both develop written procedures concerning Chennings and routinely evaluate his performance. D) assumes no extra responsibility with the hiring of Chennings. The correct answer was D) As a CEO, Berger is responsible for reasonable procedures being in place for the entire firm. Since Berger is not the supervisor of Chennings, however, Berger assumes no extra responsibility upon his hiring. | 
发表于 2008-4-9 12:16
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