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Reading 2-II: Standards of Professional Conduct & Guid

Q8. Regarding non-public information, which one of the following statements is FALSE?

A)   An analyst may use some types of non-public information.

B)   A member can be summarily suspended for having received material non-public information.

C)   Disclosing material non-public information would have an impact on the price of a security or be of interest to a reasonable investor.

 

Q9. Which one of the following constitutes the illegal use of material nonpublic information?

A)   Trading based on your analytical review of the firm's future prospects.

B)   Trading on information your sister, the firm's attorney, told you over dinner.

C)   Trading immediately after attending the firm's annual shareholders’ meeting.

Q10. Andrea Waters is an investment analyst who has accumulated and analyzed several pieces of nonpublic information through her contacts with drug firms. Although no one piece of the information she collected is "material," Waters correctly concluded that the earnings of one of the drug companies would be unexpectedly high in the coming year. According to CFA Institute Standards of Professional Conduct, Waters:

A)   cannot legally invest or make recommendations based on this information.

B)   may use the information, but only after approval from a compliance officer or supervisor.

C)   can use the information to make investment recommendations and decisions.

Q11. A CFA Institute member is a U.S. citizen living and working in a foreign country. That country has no laws against insider trading. Based on this information, the CFA Institute member may:

A)   not trade using insider information based upon the CFA Institute Standards.

B)   trade using insider information.

C)   not trade using insider information based upon the rules of the SEC.

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回复:(mayanfang1)[2009] Session 1 -Reading 2-I...

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