Reading 2-V: Standards of Professional Conduct & Guidan black, class, style

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11、An analyst who routinely purges the files that support his research and recommendations:

A)   may be violating Standard V(C), Record Retention.

B)   is acting in accordance to Standard III(E), Preservation of Confidentiality.

C)   is acting in accordance to Standard IV(A), Loyalty to Employer.

D)   may be violating Standard II(A), Material Nonpublic Information.

12、In the preparation of a research report, a CFA Institute member may emphasize certain matters, touch briefly on others, and omit some altogether:

A)   provided that the analyst has a reasonable basis for his or her actions.

B)   provided that matters are not constrained by the Mosaic theory.

C)   provided that the analyst both has a reasonable basis and is unconstrained by the Mosaic theory.

D)   under no circumstances.

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答案和详解如下：

11、An analyst who routinely purges the files that support his research and recommendations:

A)   may be violating Standard V(C), Record Retention.

B)   is acting in accordance to Standard III(E), Preservation of Confidentiality.

C)   is acting in accordance to Standard IV(A), Loyalty to Employer.

D)   may be violating Standard II(A), Material Nonpublic Information.

The correct answer was A)

According to Standard V(C), a member shall “maintain appropriate records” to support recommendations. None of the other choices would apply to this action.

12、In the preparation of a research report, a CFA Institute member may emphasize certain matters, touch briefly on others, and omit some altogether:

A)   provided that the analyst has a reasonable basis for his or her actions.

B)   provided that matters are not constrained by the Mosaic theory.

C)   provided that the analyst both has a reasonable basis and is unconstrained by the Mosaic theory.

D)   under no circumstances.

The correct answer was A)

According to Standard V(B), the analyst must use reasonable judgment in identifying relevant factors when communicating with clients and prospects . The Mosaic theory does not apply here.