Q9. Lindquist’s actions in advertising his investment performance:

A)   conform to all standards.

B)   violate Standard III(D): Performance Presentation.

C)   conform to standards concerning performance presentation as long as Lindquist does not claim compliance with CFA Institute Global Investment Performance Standards.

Q10. Regarding the NCAA tickets, what action must Lindquist take to avoid a violation of Standard IV(B): Additional Compensation Arrangements?

A)   Disclose his receipt of the tickets to all other clients with the same investment objective as the Olson account.

B)   None. Lindquist’s actions do not violate Standard IV(B).

C)   Obtain written consent from all parties involved.

Q11. David Saul, CFA, heads the trust department at Savage National Bank. Fairway Enterprises invites Saul to sit on its Board of Directors. In return for his services on the Board, Fairway offers to provide Saul and his family with access to the facilities at Wilmont Country Club at no cost. Saul will not receive any monetary compensation for his services on the Board. According to CFA Institute Standards of Professional Conduct, which of the following actions must Saul take?

A)   Saul must obtain written consent from all parties to only if he decides to accept the offer to serve on the Board of Directors.

B)   Saul must disclose in writing to Savage Bank the terms of the offer whether or not he accepts the offer to serve on the Board of Directors.

C)   Saul must reject the offer to serve on the Board of Directors.

答案和详解如下：

Q9. Lindquist’s actions in advertising his investment performance:

A)   conform to all standards.

B)   violate Standard III(D): Performance Presentation.

C)   conform to standards concerning performance presentation as long as Lindquist does not claim compliance with CFA Institute Global Investment Performance Standards.

Correct answer is B)

Lindquist failed to conform to Standard III(D) by releasing misleading information concerning his historical performance at Midwestern. KMGR may use a different management style than Midwestern, rendering historical performance of little value to Midwestern clients. Claiming compliance with CFA Institute GIPS would only compound the problem. Misrepresenting performance results as occurring at one firm when they actually occurred at a previous employer is a violation of the presentation standards.

Q10. Regarding the NCAA tickets, what action must Lindquist take to avoid a violation of Standard IV(B): Additional Compensation Arrangements?

A)   Disclose his receipt of the tickets to all other clients with the same investment objective as the Olson account.

B)   None. Lindquist’s actions do not violate Standard IV(B).

C)   Obtain written consent from all parties involved.

Correct answer is C)

Lindquist may accept gifts from a client in excess of $100 as long as he obtains written consent from all parties involved.

Q11. David Saul, CFA, heads the trust department at Savage National Bank. Fairway Enterprises invites Saul to sit on its Board of Directors. In return for his services on the Board, Fairway offers to provide Saul and his family with access to the facilities at Wilmont Country Club at no cost. Saul will not receive any monetary compensation for his services on the Board. According to CFA Institute Standards of Professional Conduct, which of the following actions must Saul take?

A)   Saul must obtain written consent from all parties to only if he decides to accept the offer to serve on the Board of Directors.

B)   Saul must disclose in writing to Savage Bank the terms of the offer whether or not he accepts the offer to serve on the Board of Directors.

C)   Saul must reject the offer to serve on the Board of Directors.

Correct answer is A)

Standard IV(B) requires that members obtain written consent from all parties involved before accepting monetary compensation or other benefits that they receive for their services that are in addition to compensation or benefits conferred by a member's employer. In this situation, Saul may also be obligated to disclose his participation on Fairway's Board to clients, prospective clients, and employer under Standard VI(A), Disclosure of Conflicts.

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