Q1. A CFA charterholder may NOT be suspended without a hearing for which of the following reasons?
A) Being convicted of murder.
B) Failing to respond in writing to charges filed by his/her immediate supervisor.
C) Failing to complete the annual professional conduct questionnaire two years in a row.
Correct answer is
B)
The CFA Institute member may respond in writing to charges from a supervisor, but this is not a requirement, and it is not a basis for suspension without a hearing. All of the others constitute grounds for suspension without a hearing.
Q2. A broker and CFA charterholder has been arrested for the crime of murder. Which, if any, of the following could result in the member being summarily suspended from using the CFA designation?
A) Both of the results listed here.
B) Either being convicted or pleading guilty to the crime.
C) He is acquitted of the crime, but he is barred from continuing to work in the investment industry.
Correct answer is A)
Both of these are reasons that CFA Institute may use for summarily suspending use of the CFA designation.
Q3. Steve Jones is a member of CFA Institute but has not earned the CFA designation yet. CFA Institute is investigating Jones’ activities. If Jones declines to cooperate, he:
A) is within his right only because it could be self incriminating.
B) is within his right only because he does not have the CFA designation yet.
C) could be summarily suspended from membership.
Correct answer is
C)
Refusing to cooperate with a CFA Institute investigation of a member’s behavior could lead to suspension of membership. If the member has earned the right to use the CFA designation, the punishment could be suspension of use of the designation.
Q4. Which of the following is least accurate regarding reasons for imposing a summary suspension upon covered persons?
A) Failure to return the annual professional conduct statement.
B) Misdemeanor charge for the possession of illegal narcotic substances.
C) Disbarment under securities laws.
Correct answer is B)
A single misdemeanor conviction for possession of illegal narcotics is not grounds for a summary suspension.
Q5. With respect to filing complaints concerning the professional conduct of a CFA Institute member, which of the following is TRUE?
A) Anyone can write the Professional Conduct Program staff with a complaint concerning the conduct of any member.
B) Only other members can write the Professional Conduct Program staff with a complaint concerning the conduct of another member.
C) Anyone can write the Standards and Policy Committee staff with a complaint concerning the conduct of any member.
Correct answer is A)
This is from page ix of the Standards of Practice Handbook. Complaints may be filed by anyone and are to be written to the Professional Conduct Program staff.
发表于 2009-1-25 09:13
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