Q1. Which of the following statements regarding employee/employer relationships is FALSE?

A)   An employee is someone in the service of another.

B)   A written contract may or may not exist between employer and employee.

C)   There must be monetary compensation for an employer/employee relationship to exist.

Q2. Theresa Hatcher, CFA, is making arrangements to establish her own investment advisory business before terminating her relationship with her current employer, Elite Brokers, Inc. Elite is a small company consisting of only six investment professionals and a small support staff. According to CFA Institute Standards of Professional Conduct, which of the following activities is least likely a violation of Hatcher's duty to Elite?

A)   Hatcher leases office space, furniture, and other equipment for her new business.

B)   Hatcher solicits Elite's clients before her termination of employment at Elite.

C)   Hatcher engages in secret negotiations with two other investment professionals and her administrative assistant to leave Elite in order to join her new business.

Q3. Which of the following statements is most correct concerning a member’s obligation to his or her employer under the Code and Standards?

A)   Members are prohibited from making arrangements or preparations to go into competitive business before terminating their relationship with their employer.

B)   Consent from the employer is necessary to permit independent practice that could result in compensation or other benefits in competition with the member's employer.

C)   Members are prohibited from undertaking independent practice in competition with their employer.

Q4. Which of the following activities will least likely constitute a violation of Standard IV(A), Loyalty?

A)   Contacting your current clients and asking them to "come with you" when you resign from your current employer.

B)   Conspiracy to bring about a mass resignation of other employees.

C)   Consulting on your own time and obtaining written permission from your employer.

Q5. Bob Douglas, CFA, is considering leaving his current employer to compete in the same field. He did not sign a non-compete clause when he was hired. He may:

A)   begin competing with his current employer as long as the employer has been informed of Douglas' future intentions.

B)   may not prepare to compete, begin competing, or anything related to competing with his current employer.

C)   plan and prepare to compete with his current employer, but not begin competing until his resignation is effective.

答案和详解如下：

Q1. Which of the following statements regarding employee/employer relationships is FALSE?

A)   An employee is someone in the service of another.

B)   A written contract may or may not exist between employer and employee.

C)   There must be monetary compensation for an employer/employee relationship to exist.

Correct answer is C)

Monetary compensation is not a requirement of the employee/employer relationship.

Q2. Theresa Hatcher, CFA, is making arrangements to establish her own investment advisory business before terminating her relationship with her current employer, Elite Brokers, Inc. Elite is a small company consisting of only six investment professionals and a small support staff. According to CFA Institute Standards of Professional Conduct, which of the following activities is least likely a violation of Hatcher's duty to Elite?

A)   Hatcher leases office space, furniture, and other equipment for her new business.

B)   Hatcher solicits Elite's clients before her termination of employment at Elite.

C)   Hatcher engages in secret negotiations with two other investment professionals and her administrative assistant to leave Elite in order to join her new business.

Correct answer is A)

Standard IV(A) permits Hatcher to make preparations to begin a new practice, such as leasing office space, furniture, and other equipment, but not to engage in the other activities that may violate her duty to employer.

Q3. Which of the following statements is most correct concerning a member’s obligation to his or her employer under the Code and Standards?

A)   Members are prohibited from making arrangements or preparations to go into competitive business before terminating their relationship with their employer.

B)   Consent from the employer is necessary to permit independent practice that could result in compensation or other benefits in competition with the member's employer.

C)   Members are prohibited from undertaking independent practice in competition with their employer.

Correct answer is B)

There is no blanket prohibition against independent practice in competition with a member’s employer. The member must obtain permission from the employer. Members may make preparations to go into a competitive business, but may not solicit clients of the employer as long as members are still employed by the employer.

Q4. Which of the following activities will least likely constitute a violation of Standard IV(A), Loyalty?

A)   Contacting your current clients and asking them to "come with you" when you resign from your current employer.

B)   Conspiracy to bring about a mass resignation of other employees.

C)   Consulting on your own time and obtaining written permission from your employer.

Correct answer is C)

Consulting on your own time and obtaining written permission from your employer does not constitute a violation of Standard IV(A).

Q5. Bob Douglas, CFA, is considering leaving his current employer to compete in the same field. He did not sign a non-compete clause when he was hired. He may:

A)   begin competing with his current employer as long as the employer has been informed of Douglas' future intentions.

B)   may not prepare to compete, begin competing, or anything related to competing with his current employer.

C)   plan and prepare to compete with his current employer, but not begin competing until his resignation is effective.

Correct answer is C)

Douglas may plan and prepare to compete with his current employer, but may not begin competing until his resignation is effective or he gets permission from his employer. Members must provide notification to their employer describing the types of services to be rendered, the expected duration, and compensation for the services.

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