Q9. The following information concerns two analysts at Mega Securities Company. § Mega recently hired Ron Anderson, CFA, who was previously an independent investment advisor. Anderson wants to keep his existing clients for himself and obtains written consent from Mega to do so. He also informed and received consent from his existing clients in writing about his new position at Mega. § Brenda Ford, a CFA Institute member, has been a full-time analyst for Mega for 12 years. She recently started providing investment services, which compete with Mega, to private clients on her own time. Ford obtained written consent for this arrangement from her direct supervisor at Mega. Ford has not disclosed to each of her clients her employment at Mega. According to CFA Institute Standards of Professional Conduct, have Anderson and Ford violated Standard IV: Duties to Employers? A) Neither Anderson nor Ford violated this Standard. B) Ford violated this Standard, but Anderson has not. C) Anderson violated this Standard, but Ford has not.
Q10. Theresa Hatcher, CFA, is making arrangements to establish her own investment advisory business before terminating her relationship with her current employer, Elite Brokers, Inc. Elite is a small company consisting of only six investment professionals and a small support staff. According to CFA Institute Standards of Professional Conduct, which of the following activities is least likely a violation of Hatcher's duty to Elite? A) Hatcher solicits Elite's clients before her termination of employment at Elite. B) Hatcher engages in secret negotiations with two other investment professionals and her administrative assistant to leave Elite in order to join her new business. C) Hatcher leases office space, furniture, and other equipment for her new business.
Q11. Nick O'Donnell, CFA, unsuspectingly joins the research team at Wickett & Co., an investment banking firm controlled by organized crime. None of the managers at Wickett are CFA Institute members. Because of his tenuous situation at Wickett, O'Donnell begins making preparations for independent practice. He knows he will be terminated if he informs management at Wickett that he is preparing to leave. Consequently, he determines that "if he can just hang on for one year, he will likely have a client base sufficient for him to strike out on his own." This action is: A) not a violation of his duty to employer. B) a violation of his fiduciary duties. C) a violation of his duty to disclose conflicts to his employer.
Q12. John Hill, CFA, has been working for Advisors, Inc., for eight years. Hill is about to start his own money management business and has given his two-week notice of his resignation from Advisors. A few days before his resignation takes effect, on his lunch hour, he takes out a loan from a bank on behalf of his new business and uses the money to buy some office equipment for his new business. Since he engaged in these transactions while still an employee of Advisors, Hill violated Standard IV(A), Loyalty to Employer, by: A) engaging in a financial transaction, like taking out a loan, only. B) both taking out the loan and purchasing the office equipment. C) neither of these actions.
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发表于 2009-1-9 16:29
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