Reading 2-I: Standards of Professional Conduct & Guidance 四步曲

1215

Session 1: Ethical and Professional Standards
Reading 2-I: Standards of Professional Conduct & Guidance: Professionalism

LOS C.: Misrepresentation.

 

 

Marc Randall, CFA, is an investment analyst. During a meeting with a potential client, Randall's boss states that, "You can be sure our investments will always outperform Treasury Bonds because of our fine research staff members, like Marc." Randall knows that this statement is:

A) a violation of the Standard concerning prohibition against misrepresentation.

B) a violation of fiduciary duties owed to clients under the Standards.

C) not in violation of the Code and Standards.

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Under Standard I(C), members are forbidden from guaranteeing a specific rate of return on volatile investments. Therefore, the statement is in violation of the Standard.

mrcon

I(C)  misrepresentation 不当陈述

mrcon

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geniealice

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luqian55

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1215

Wes Smith, CFA, has been working toward the completion of a Master of Science in Finance. He has passed all the necessary courses and written the necessary thesis. He still must defend the thesis in one month. Smith’s thesis advisor assures him that he will pass the thesis defense. Smith has new business cards printed with “M.S. in Finance” after his name. This is a violation of:

A) Standard VII(B), Reference to CFA Institute, the CFA Designation, and the CFA Program.

B) none of the Standards if Smith does not make the cards public until after he defends his thesis and receives his degree.

C) Standard I(C), Misrepresentation.

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If the cards were distributed today he would be in violation of Standard I(C), Misrepresentation. However, if Smith does not make the cards public until after he receives the degree, there is no violation.

1215

Which of the following is NOT a form of plagiarism?

A) Using factual information published by a recognized financial statistics reporting service without acknowledgment.

B) Presenting statistical forecasts by others with the sources identified but without the qualifying statements that may have been used by the originator.

C) Citing quotations said to be attributable to "leading analysts" or "investment experts" without specific reference.

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Members may not generally use material without acknowledging the original source, but an exception is made for factual information published by recognized financial and statistical reporting services.

1215

All of the following violate Standard I(C), Misrepresentation, EXCEPT:

A) presenting factual information published by recognized statistical reporting services without acknowledgment.

B) copying a proprietary computerized spreadsheet without seeking authorization from the creators.

C) citing quotes attributable to "investment experts" without specific references.

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Standard I(C), Misrepresentation, permits using recognized sources of factual information such as Standard & Poor’s Corporation and Moody’s Investors Service without acknowledgment.