Q1. Don Roberts, a CFA Institute member, resides in Country L, where the securities laws and regulations are less strict than the CFA Institute Code and Standards. Roberts also does business in Country N, which has no securities laws or regulations. Thus, Country N has no laws prohibiting the use of material nonpublic information. Roberts has clients in both Country L and N. Country L's law states that the law of the locality where business is conducted governs. According to CFA Institute Standards of Professional Conduct about the use of material nonpublic information, Roberts may: A) not take investment action on the basis of this information. B) take investment action based on this information for clients in both Country N and Country L and for himself. C) take investment action based on this information only for his clients in Country N but not for his clients in Country L or himself.
Q2. The SEC’s new stock-trading rule has just gone into effect. The SEC will give brokers a 10-day grace period, during which violators of the rule will be immediately notified and given a chance to remedy their situation to comply with the new rule. If a CFA Institute member unknowingly violates the rule and then remedies the situation within the 10-day grace period, has the member violated Standard I(A)? A) Yes, because the member did not maintain knowledge and know of the rule. B) No, because the member remedied the situation. C) No, because the member unknowingly broke the rule.
Q3. Josh LeBlanc, a CFA charterholder, is an investment analyst for a small stock brokerage firm. He wants to acquire and maintain knowledge about applicable laws, rules, and regulations relating to his professional activities. According to the CFA Institute Standards of Professional Conduct, which of the following ways is least likely to meet compliance procedures? A) Rely on past practices followed within his firm. B) Review written compliance procedures on a regular basis. C) Keep informed about changes in applicable laws, rules, and regulations.
Q4. What is the rule of thumb for members, CFA charterholders and candidates in the CFA program when weighing the requirements of the CFA Institute Code and Standards and the requirements of local laws? If the applicable laws are:
A) more strict, they must adhere to the applicable laws. B) less strict, they should make a judgment call on which to follow, the Code and Standards or the local laws and requirements. C) more strict, they must still follow the Code and Standards.
| 
发表于 2009-1-5 15:31
| 
