1、Which of the following statements about the responsibilities of CFA charterholders is TRUE? CFA charterholders: A) must comply with the laws and rules governing their profession and must not engage in any individual behavior that reflects adversely on the entire profession. B) must comply with the laws and rules governing their profession or must not engage in any individual behavior that reflects adversely on the entire profession. C) are not obligated to a special set of standards, but must act honorably. D) are only obligated to comply with securities laws in the U.S. The correct answer was A) CFA charterholders must comply with the laws and rules governing their profession and must not engage in any individual behavior that reflects adversely on the entire profession. While they should act honorably and follow U.S. securities laws, they are obligated to more than that, as set forth in the Code and Standards. 2、Which of the following statements about the CFA Institute Code and Standards is most accurate? The Code and Standards: A) prohibit members from accepting gifts that create a conflict with their employer's interest. B) require members to resign from their jobs to disassociate themselves from clients engaging in illegal activities. C) require members to persuade the perpetrator to cease illegal activities. D) do not require that members report legal violations to the appropriate governmental or regulatory organization. The correct answer was D) The Code and Standards do not require members to report violations to legal authorities, but such disclosure may be prudent in certain circumstances. They do not require members to quit their jobs or to persuade violators to cease illegal activities. They do require that members report the activities to the appropriate person(s) in their own firm and disassociate themselves from the illegal actions. Members must obtain written permission to accept gifts that create a conflict with their employer's interest. 3、According to the CFA Institute Standards of Professional Conduct, Standard I(A), Knowledge of the Law, members shall not knowingly participate or assist in any violations of laws, rules, or regulations. An analyst: A) must report all legal violations to the proper regulatory commission and is held responsible for participating in illegal acts when the law is evident to anyone knowing the law. B) is held responsible for violations by others when the analyst is unaware of the facts giving rise to the violation. C) is held responsible for participating in illegal acts when the law is evident to anyone knowing the law and is held responsible for violations by others when the analyst is unaware of the facts giving rise to the violation. D) is held responsible for participating in illegal acts when the law is evident to anyone knowing the law and can participate in a violation by having knowledge of the violation and taking no action to stop it or disassociate from it. The correct answer was D) If you suspect someone is planning or engaging in illegal activities, you should: 1. Determine the legality of the activities. Consult your supervisor and legal counsel. 2. Take appropriate action. Disassociate, attempt to persuade the perpetrator to stop. CFA Institute does not require you to report them to the authorities, but the law might. 4、A CFA Institute member works for Secure Securities, Inc., and plays rugby on the firm’s rugby team. Secure Securities’ team recently played the team of a rival firm. During the game, a fight broke out and the CFA Institute member was the instigator, but no one was seriously hurt. Is this a violation of I(A) concerning maintaining knowledge and complying with laws, rules, and regulations? A) Yes, because the member could have hurt someone in the fight. B) No, because a fight at a rugby game is not a professional activity. C) Yes, because the member is bound by the Code of Ethics. D) No, because no one was seriously hurt. The correct answer was C) Standard I(A) requires that a CFA Institute member obey the Code of Ethics. Among other things, the Code says the member shall act with respect and in an ethical manner with the public and colleagues. 5、Deloris Johnson, CFA, suspected that her intern, who was working without pay at her brokerage firm, had violated a federal securities regulation. Johnson discussed the matter with her company's legal counsel who said that the intern's conduct was illegal. According to the CFA Institute Code and Standards of Professional Conduct, Johnson can dissociate herself from this illegal activity by: A) reporting the activity to the appropriate authorities. B) transferring supervision of the intern to another person. C) reporting the violation to CFA Institute. D) telling her intern to stop such conduct. The correct answer was A) Johnson can dissociate herself from the illegal activity by reporting the activity to the appropriate authorities. However, the Code and Standards do not require that she report legal violations to the appropriate governmental or regulatory organizations, but such disclose is prudent in this circumstance. By transferring the intern to another supervisor this may not solve the problem of the illegal activity occurring and the company would still be held liable for it. | 
发表于 2008-4-16 15:08
|