Q5. An analyst belongs to a nationally recognized charitable organization, which requires dues for membership. The analyst has worked out a deal under which he provides money management advice in lieu of paying dues. While performing services for the organization, the analyst discovers some useful computer programs that his predecessor developed and left as the property of the organization. The analyst decides to use the computer programs in his consulting business. This action is:

A)   appropriate since the analyst is technically an employee of the organization.

B)   a violation of Standard III(B) concerning fair dealing.

C)   a violation of Standard I(D) concerning misconduct.

Q6. Which of the following does NOT violate Standard I(D), Misconduct? Roland Lawson, a financial analyst:

A)   committed perjury in connection with a lawsuit against his firm.

B)   is arrested for participating in a nonviolent protest.

C)   drinks excessively during business meetings with clients and returns to work under the influence of alcohol.

Q7. Nancy Hall, a candidate in the CFA program, is an analyst for a mutual fund. As part of her job she makes company visits to interview executives. On a recent trip she stayed with her sister instead of at a hotel. In her expenses Hall included a hotel charge of $100, which was less than the amount allowed by her employer. After receiving a check for her expenses, Hall disclosed to her supervisor that she had stayed with her sister instead of at a hotel. She also returned the $100 to her employer. According to CFA Institute Standards of Professional Conduct, which of the following statements best describes Hall's professional conduct?

A)   Hall did not engage in professional misconduct because she eventually disclosed this information and returned the $100 to her employer.

B)   Hall did not engage in professional misconduct because she did not meet all of the requirements to use the CFA designation.

C)   Hall engaged in professional misconduct.

答案和详解如下：

Q5. An analyst belongs to a nationally recognized charitable organization, which requires dues for membership. The analyst has worked out a deal under which he provides money management advice in lieu of paying dues. While performing services for the organization, the analyst discovers some useful computer programs that his predecessor developed and left as the property of the organization. The analyst decides to use the computer programs in his consulting business. This action is:

A)   appropriate since the analyst is technically an employee of the organization.

B)   a violation of Standard III(B) concerning fair dealing.

C)   a violation of Standard I(D) concerning misconduct.

Correct answer is C)

Since the programs are the property of the organization, the analyst can only use them for the organization. It does not matter whether the analyst is an employee or not. Personal use of the programs without permission from the charitable organization is dishonest and prohibited.

Q6. Which of the following does NOT violate Standard I(D), Misconduct? Roland Lawson, a financial analyst:

A)   committed perjury in connection with a lawsuit against his firm.

B)   is arrested for participating in a nonviolent protest.

C)   drinks excessively during business meetings with clients and returns to work under the influence of alcohol.

Correct answer is B)

Any professional conduct that involves dishonesty, fraud, or deceit is a violation of Standard I(D), Misconduct. One must refrain from activities that reflect poorly on integrity, reputation, trustworthiness, or professional conduct. The focus of the Standard is on professional, not personal, conduct.

Q7. Nancy Hall, a candidate in the CFA program, is an analyst for a mutual fund. As part of her job she makes company visits to interview executives. On a recent trip she stayed with her sister instead of at a hotel. In her expenses Hall included a hotel charge of $100, which was less than the amount allowed by her employer. After receiving a check for her expenses, Hall disclosed to her supervisor that she had stayed with her sister instead of at a hotel. She also returned the $100 to her employer. According to CFA Institute Standards of Professional Conduct, which of the following statements best describes Hall's professional conduct?

A)   Hall did not engage in professional misconduct because she eventually disclosed this information and returned the $100 to her employer.

B)   Hall did not engage in professional misconduct because she did not meet all of the requirements to use the CFA designation.

C)   Hall engaged in professional misconduct.

Correct answer is C)

Hall engaged in professional misconduct because her act involved dishonesty, fraud, and deceit.

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