Q1. Ralph Lim and Susan Bland have both passed Level I of the CFA Program. Both are currently enrolled to sit for Level II. Lim's business card reads, "Ralph Lim, CFA Level I." Bland's resume states, "Level II Candidate in the CFA Program." According to CFA Institute Standards of Professional Conduct involving use of the professional designation:

A)   Lim violated the Standard, but Bland did not.

B)   Both Lim and Bland violated the Standard.

C)   Bland violated the Standard, but Lim did not.

Q2. When using the CFA designation, which of the following is appropriate?

A)   "I am a CFA charterholder."

B)   Jones CFA's, Inc.

C)   "I am a CFA."

Q3. Which of the following is an appropriate statement for a Level II CFA candidate to make?

A)   I am a Level II CFA.

B)   I passed the Level I CFA exam last year.

C)   I am a Level I CFA charterholder.

Q4. Janet Olson, CFA, is an analyst at Quantech Associates. Olson attended a conference at which Brian Wright presented several proprietary computerized spreadsheets that he had developed to value high-tech stocks. While at the conference, Olson copied the spreadsheets without Wright’s knowledge. Later, Olson made several minor changes to Wright’s initial model. After testing the revised model, Olson was impressed with the results. As inputs for the model, she used factual materials supplied by Moody’s Investors Service, a recognized financial and statistical reporting service. Olson wrote a research report describing the revised model and its results and distributed the report to Quantech’s clients. According to CFA Institute Standards of Professional Conduct, which of the following actions is Olson required to take? Olson is:

A)  required to seek the authorization from Wright to copy the spreadsheets, acknowledge Wright for developing the initial model but is not required to acknowledge Moody's Investors Service as the source of the data.

B)  required to seek authorization from Wright to copy the spreadsheets and acknowledge Wright for developing the initial model and Moody's Investors Service as the source of the data.

C)  required to acknowledge Moody's Investors Service as the source of the data but is not required to seek authorization from Wright to copy the spreadsheets or to acknowledge Wright for developing the initial model.

[此贴子已经被作者于2009-1-4 16:23:19编辑过]

答案和详解如下：

Q1. Ralph Lim and Susan Bland have both passed Level I of the CFA Program. Both are currently enrolled to sit for Level II. Lim's business card reads, "Ralph Lim, CFA Level I." Bland's resume states, "Level II Candidate in the CFA Program." According to CFA Institute Standards of Professional Conduct involving use of the professional designation:

A)   Lim violated the Standard, but Bland did not.

B)   Both Lim and Bland violated the Standard.

C)   Bland violated the Standard, but Lim did not.

Correct answer is A)

There is no designation for someone who has passed Level I, Level II, or Level III of the CFA examination. Candidates may state, however, that they have completed Level I, II, or III, as the case may be, in the CFA Program. Thus, Lim violated the Standard, but Bland did not.

Q2. When using the CFA designation, which of the following is appropriate?

A)   "I am a CFA charterholder."

B)   Jones CFA's, Inc.

C)   "I am a CFA."

Correct answer is A)

The only appropriate use of the designation is “I am a CFA charterholder.” You cannot use the designation as a noun (as in “I am a CFA”) and you cannot use the designation in the company name.

Q3. Which of the following is an appropriate statement for a Level II CFA candidate to make?

A)   I am a Level II CFA.

B)   I passed the Level I CFA exam last year.

C)   I am a Level I CFA charterholder.

Correct answer is B)

The only appropriate statement is “I passed the Level I CFA exam last year.” It is a factual statement and does not imply a partial designation, which does not exist.

Q4. Janet Olson, CFA, is an analyst at Quantech Associates. Olson attended a conference at which Brian Wright presented several proprietary computerized spreadsheets that he had developed to value high-tech stocks. While at the conference, Olson copied the spreadsheets without Wright’s knowledge. Later, Olson made several minor changes to Wright’s initial model. After testing the revised model, Olson was impressed with the results. As inputs for the model, she used factual materials supplied by Moody’s Investors Service, a recognized financial and statistical reporting service. Olson wrote a research report describing the revised model and its results and distributed the report to Quantech’s clients. According to CFA Institute Standards of Professional Conduct, which of the following actions is Olson required to take? Olson is:

A)  required to seek the authorization from Wright to copy the spreadsheets, acknowledge Wright for developing the initial model but is not required to acknowledge Moody's Investors Service as the source of the data.

B)  required to seek authorization from Wright to copy the spreadsheets and acknowledge Wright for developing the initial model and Moody's Investors Service as the source of the data.

C)  required to acknowledge Moody's Investors Service as the source of the data but is not required to seek authorization from Wright to copy the spreadsheets or to acknowledge Wright for developing the initial model.

Correct answer is A)

To comply with Standard I(C) Misrepresentation, Olson should have gotten the authorization from Wright to copy the spreadsheets. The prohibition against plagiarism requires that Olson identify Wright as the source of the initial model. However, the Standard ermits publishing factual information from Moody's Investors Service without acknowledgment because Moody's is recognized as a source of factual materials.

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