Q15. An analyst receives a report from his research department that summarizes and interprets a recent speech from the chairman of the U.S. Federal Reserve. The summary says that the chairman thinks inflation is under control. Based upon this summary, the analyst says in his next newsletter that inflation is under control. This is a violation of: A) Standard V(A), Diligence and Reasonable Basis, and Standard V(B), Communication with Clients and Prospective Clients. B) Standard V(A), Diligence and Reasonable Basis, only. C) none of the Standards listed here.
Q16. Susan Plumb is the supervisor of her firm’s research department. Her firm has been seeking the mandate to underwrite Wings Industries’ proposed secondary stock offering. Without mentioning that the firm is seeking the mandate, she asks Jack Dawson to analyze Wings common stock and prepare a research report. After reasonable effort, Dawson produces a favorable report on Wings stock. Plumb then adds a footnote describing the underwriting relationship with Wings and disseminates the report to the firm’s clients. According to CFA Institute Standards of Professional Conduct, these actions are: A) a violation of Standard V(A), Diligence and Reasonable Basis. B) a violation of Standard VI(A), Disclosure of Conflicts. C) not a violation of any Standard.
Q17. An analyst receives a research report from a colleague. The colleague’s report has an elaborate table with performance data on publicly traded stocks. The colleague says the data in the table consists of measures provided by Standard & Poor’s. The analyst finds the table a useful reference for a report she is writing. She uses several pieces of data from the table. The analyst is potentially in violation of: A) Standard V(A), Diligence and Reasonable Basis, if she does not first verify the data in the table is accurate. B) Standard I(C), Misrepresentation, concerning the use of the work of others. C) no particular standard because this is appropriate activity.
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发表于 2009-1-12 17:05
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