3、Madeline Smith, CFA, was recently promoted to senior portfolio manager. In her new position, Smith is required to supervise three portfolio managers. Smith asks for a copy of her firm's written supervisory policies and procedures, but is advised that no such policies are required by regulatory standards in the country where Smith's firm conducts the majority of its business. According to the Standards of Practice Handbook, Smith's most appropriate course of action would be to: A. require that her firm adopt the CFA Institute Code of Ethics and Standards of Professional Conduct. B. require that the employees she supervises adopt the CFA Institute Code of Ethics and Standards of Professional Conduct. C. decline to accept supervisory responsibility until her firm adopts procedures to allow her to adequately exercise such responsibility. D. accept supervisory responsibility because the regulatory standards in the country in which her firm conducts the majority of its business do not require firms to have written supervisory policies and procedures.
Correct answer = C
Standards of Practice Handbook, 9th edition (CFA Institute, 2005), pp. 93-96
Standards I-VII
2008 Modular Level I, Vol. 1, pp. 76-78
Study Session 1-2-a
demonstrate a thorough knowledge of the Code of Ethics and Standards of Professional Conduct by applying the Code and Standards to specific situations presenting multiple issues of questionable professional conduct
If a member cannot discharge supervisory responsibilities because of the absence of a compliance system or because of an inadequate compliance system, the member should decline in writing to accept supervisory responsibility until the firm adopts reasonable procedures to allow the member to adequately exercise such responsibility.
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发表于 2008-5-31 22:36
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