Q6. According to the CFA Institute Standards of Professional Conduct, which of the following statements about members with supervisory responsibility is FALSE? Members with supervisory responsibility:

A)   must make reasonable efforts to detect violation of laws, rules, regulations, and the Code and Standards.

B)   are relieved of their supervisory responsibility if they delegate their supervisory duties to other members of CFA Institute.

C)   are expected to have in-depth knowledge of the Code and Standards and to apply this knowledge in discharging their supervisory responsibilities.

Q7. For years John Berger, a CFA charterholder and CEO of a company, relied upon a set of reasonable procedures for preventing violations of the Code and Standards of Professional Conduct in the firm. To not be liable for a violation of the Standards, Berger must:

A)   do nothing more than have the set of procedures in place as stated.

B)   ensure the procedures are monitored and enforced.

C)   both periodically review the procedures and ensure the procedures are monitored and enforced.

Q8. Martin Tripp, CFA, is vice-president of the equity department at Walker Financial, a large money management firm. Of the twenty analysts in his department for whom he has supervisory responsibility, eight are subject to CFA Institute Standards of Professional Conduct. Tripp believes that he cannot personally evaluate the conduct of the twenty analysts on a continuing basis. Therefore, he plans to delegate some of his supervisory duties to Sarah Green, who is subject to the Standards, and some to Bob Brown, who is not subject to the Standards. According to CFA Institute Standards of Professional Conduct, which of the following statements about Tripp's ability to delegate supervisory duties is most correct?

A)   Tripp can delegate some or all of his supervisory duties to Brown, even though Brown is not subject to the Standards.

B)   Tripp cannot delegate any of his supervisory duties to either Green or Brown.

C)   Tripp can delegate some or all of his supervisory duties only to Green because she is subject to the Standards.

Q9. For many years, John Berger, CFA, has been a mentor of Bob Chennings, a family friend, who just earned the CFA designation. Berger is the CEO of a firm that just hired Chennings, but the hiring was done at a lower level so Berger and Chennings have no direct contact in the daily operation of the firm. With respect to Standard IV(C), Responsibilities of Supervisors, Berger:

A)   assumes no extra responsibility with the hiring of Chennings.

B)   must both develop written procedures concerning Chennings and routinely evaluate his performance.

C)   must develop a set of written procedures to prevent violations derived from his mentoring Chennings.

答案和详解如下：

Q6. According to the CFA Institute Standards of Professional Conduct, which of the following statements about members with supervisory responsibility is FALSE? Members with supervisory responsibility:

A)   must make reasonable efforts to detect violation of laws, rules, regulations, and the Code and Standards.

B)   are relieved of their supervisory responsibility if they delegate their supervisory duties to other members of CFA Institute.

C)   are expected to have in-depth knowledge of the Code and Standards and to apply this knowledge in discharging their supervisory responsibilities.

Correct answer is B)

Although members who supervise large numbers of employees may delegate supervisory duties, such delegation does not relieve them of their supervisory responsibility.

Q7. For years John Berger, a CFA charterholder and CEO of a company, relied upon a set of reasonable procedures for preventing violations of the Code and Standards of Professional Conduct in the firm. To not be liable for a violation of the Standards, Berger must:

A)   do nothing more than have the set of procedures in place as stated.

B)   ensure the procedures are monitored and enforced.

C)   both periodically review the procedures and ensure the procedures are monitored and enforced.

Correct answer is C)         

As a CEO, Berger is responsible for implementing and maintaining appropriate compliance procedures. He must also ensure the procedures are monitored and enforced.

Q8. Martin Tripp, CFA, is vice-president of the equity department at Walker Financial, a large money management firm. Of the twenty analysts in his department for whom he has supervisory responsibility, eight are subject to CFA Institute Standards of Professional Conduct. Tripp believes that he cannot personally evaluate the conduct of the twenty analysts on a continuing basis. Therefore, he plans to delegate some of his supervisory duties to Sarah Green, who is subject to the Standards, and some to Bob Brown, who is not subject to the Standards. According to CFA Institute Standards of Professional Conduct, which of the following statements about Tripp's ability to delegate supervisory duties is most correct?

A)   Tripp can delegate some or all of his supervisory duties to Brown, even though Brown is not subject to the Standards.

B)   Tripp cannot delegate any of his supervisory duties to either Green or Brown.

C)   Tripp can delegate some or all of his supervisory duties only to Green because she is subject to the Standards.

Correct answer is A)

Standard IV(C), Responsibilities of Supervisors, permits Tripp to delegate supervisory duties to Green, Brown, or both, but such delegation does not relieve Tripp of his supervisory responsibility.

Q9. For many years, John Berger, CFA, has been a mentor of Bob Chennings, a family friend, who just earned the CFA designation. Berger is the CEO of a firm that just hired Chennings, but the hiring was done at a lower level so Berger and Chennings have no direct contact in the daily operation of the firm. With respect to Standard IV(C), Responsibilities of Supervisors, Berger:

A)   assumes no extra responsibility with the hiring of Chennings.

B)   must both develop written procedures concerning Chennings and routinely evaluate his performance.

C)   must develop a set of written procedures to prevent violations derived from his mentoring Chennings.

Correct answer is A)

As a CEO, Berger is responsible for reasonable procedures being in place for the entire firm. Since Berger is not the supervisor of Chennings, however, Berger assumes no extra responsibility upon his hiring.

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