1. Roberto Vargas, CFA, manages the Student Scholarship Trust, who is deputy treasurer for Spartan College, Vargas issued a Request for Proposals (RFP) for domestic portfolio managers. Pamela Peters, CFA, a good friend of Vargas, introduces him to representatives from Capital Investments, who submitted a proposal. Vargas selected Capital as a manager based on the firm's excellent performance record. Shortly after the selection, Peters, who had outstanding performance as an equity manager with another firm, accepted a lucrative job with Capital. Have Vargas and Peters, respectively, violated any CFA Institute Standards of Professional Conduct?
 

 

Vargas

Peters

A

No

Yes

B

No

No

C

Yes

No

         Correct answer = B

        Members should use reasonable care and judgment to maintain independence and objectivity. There is no indication of inappropriate behavior in selection of the equity manager or in the acceptance of employment with that manager; both decisions were based on the excellent performance records of the manager and the member, respectively. 

         这道题目是判断两个人对于投资经理的选择是否违反独立客观性。先看Vargas是没有违反的，因为他选择Capital Investments是因为公司的excellent performance record，并不是因为他的朋友Peters。再看Peters，并不是因为他将Capital Investments介绍给Vargas而得到的lucrative job，而是因为他的outstanding performance as an equity manager with another firm

 

        2. Evan Schulman, CFA, and Nancy Bishop, CFA, began a joint research report on Star Corporation. Prior to the completion of the report, Bishop was reassigned to another project. Bishop spent several days visiting Star 's corporate headquarters and meeting with all company officers. Schulman utilized his and Bishop's research to write the report. According to the CFA Institute Standards of Practice Handbook, did Schulman violate any CFA Institute Standards of Professional Conduct?

        A.Yes, with respect to misrepresentation.
        B. No.
        C. Yes, with respect to independence and objectivity.


        Correct answer = B

        Members are in compliance with CFA Institute's Standards if they rely on the research of another party who exercised diligence and thoroughness.

 

        提问：A为什么不对？EVAN没有抄袭NANCY的文件吗??? 没有，请关注本题的*9句话Evan Schulman, CFA, and Nancy Bishop, CFA, began a joint research report on Star Corporation，中的 joint research ，他可以使用自己和他人的研究报告作为研究的基础。如果引用别人的报告，他只要说明这是来自他人的就可以了，更何况这是Joint research；另外，他到实地去研究Star，并未提到他使用了Material Nonpublic Information。 如果题目中提到，他没有说明这是Joint research，他违反了misreprentation.
 

　　
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