高顿搜索 -第29页

【单选】 Ralph Lim and Susan Bland have both passed Level I of the CFA Program. Both are currently enrolled to sit for Level II. Lim's business card reads, "Ralph Lim, CFA Level I." Bland's resume states, "Level II Candidate in the CFA Program." According to CFA Institute Standards of Professional Conduct involving use of the professional designation:
A. Both Lim and Bland violated the Standard.
B. Lim violated the Standard, but Bland did not.
C. Bland violated the Standard, but Lim did not.
【单选】 Jason Jones, a stock broker who has completed Level I of the CFA program and is registered for the next Level II CFA exam, may:
A. use the Level I CFA designation since he has passed the Level I exam.
B. not mention that he is involved in the CFA Program until he has passed all three levels.
C. state that he is a Level II candidate in the CFA Program.
【单选】 Which of the following is least likely an appropriate use of the CFA designation?
A. Jeremy Salyers, as a CFA charterholder, expects to outperform the market because CFA charterholders have on average outperformed their peers.
B. Jeremy Salyers, CFA.
C. Jeremy Salyers has earned the CFA designation by passing three exams, all three on his first attempts.
【单选】 Stephanie Irons, Level II CFA candidate, regularly posts in Internet chat rooms dedicated to candidates studying for the Level II exam. Throughout the season, she and other candidates discuss curriculum content in great detail. Three days after the exam, she returns to the site and vents her frustrations over complicated exam questions by posting questions she remembers on the site, and asking others for their responses and reasoning. Other candidates follow suit and post the questions they remember. Within a week, Irons and her fellow candidates are able to reconstruct about 85% of the exam from their collective memory. Finding the exercise cathartic, she is then able to return to her job and personal life and wait for her results. Irons and her fellow candidates are most likely:
A. in violation of Standard VII(A) "Conduct as Members and Candidates in the CFA Program" for discussing curriculum content in a public forum prior to the exam.
B. not in violation as the information about the actual exam contents was posted after the conclusion of the exam.
C. in violation of Standard VII(A) "Conduct as Members and Candidates in the CFA Program" for providing confidential information about the exam.
【单选】While on a business trip, John Hayes, CFA, found a notebook that had apparently been left in the waiting area of an airport. Hayes opened the notebook and read the title: Confidential: Level II CFA Examination. Before returning the notebook to CFA Institute, he made a copy and gave it to Linda Sacket, one of his firm's analysts, who was a candidate for Level II of the CFA examination. Hayes reasoned that CFA Institute would not use these questions and that Sacket would benefit from reviewing these questions. Sacket read the questions and guideline answers before taking the Level II examination. According to the CFA Institute Standards of Professional Conduct:
A. Hayes violated the Standards, but Sacket did not.
B. Sacket violated the Standards, but Hayes did not.
C. both Hayes and Sacket violated the Standards.
【单选】 Which of the following actions would be a violation of the Standard VII(A), Conduct as Members and Candidates in the CFA Program?
A. Exaggerating the implications of holding the CFA designation.
B. Misrepresenting information on the Professional Conduct Statement.
C. Failure to submit a Professional Conduct Statement and pay annual dues.
【单选】 Ron Vasquez is registered to sit for the CFA Level II exam. Unfortunately, Vasquez has failed the exam the past two years. In his frustration, Vasquez posted the following comment on a popular internet bulletin board: “I believe that CFA Institute is intentionally limiting the number of charterholders in order to increase its cash flow by continuing to fail candidates. Just look at the pass rates.”Which of the following statements regarding Vasquez’s conduct is CORRECT? Vasquez is:
A. in violation of Standard VII(A), Conduct as Members and Candidates in the CFA Program, but not in violation of Standard I(D), Misconduct.
B. not in violation of Standard I(D), Misconduct or Standard VII(A), Conduct as Members and Candidates in the CFA Program.
C. in violation of both Standard I(D), Misconduct and Standard VII(A), Conduct as Members and Candidates in the CFA Program.
【单选】 For the past 5 years, Karen Beckworth, CFA, has served as a proctor for the CFA exam. Beckworth tells her assistant, a CFA Level III candidate, that she normally receives the examinations on the Thursday before the exam. Given the low pass rate at Level III, Beckworth asks her assistant if he would like an advance copy of the next exam. Beckworth’s assistant declines the offer. Beckworth’s assistant has been very vocal about expressing his opinions about the low pass rate. The assistant claims, “there are too many charterholders and CFA Institute is deliberately failing candidates because the prestige of the CFA charter is becoming diluted.” With regard to Standard VII(A) Conduct as Members and Candidates in the CFA Program, which of the following statements concerning Beckworth’s and her assistant’s behavior is most accurate?
A. Both Beckworth and her assistant are in violation of Standard VII(A).
B. Neither Beckworth nor her assistant is in violation of Standard VII(A).
C. Beckworth is in violation of Standard VII(A), but her assistant is not in violation.
【单选】 All of the following are violations of Standard VII(A), Conduct as Members and Candidates in the CFA Program, EXCEPT:
A. expressing opinions in disagreement with CFA Institute advocacy positions.
B. disregarding the rules related to the administration of the CFA examination.
C. improperly using the CFA Designation to further professional goals.
【单选】 Lindsay Gordon is a CFA Level II candidate living in San Francisco. Gordon’s best friend, Steve Haney, also a Level II candidate, is living in Munich. Because of the time difference between Munich and San Francisco, Gordon suggests that Haney call Gordon during the Munich exam lunch break to discuss the morning exam. Haney makes the call on exam day.Which of the following statements regarding Gordon and Haney is CORRECT?
A. Gordon is in violation of Standard VII(A), but Haney is not in violation.
B. Neither Gordon nor Haney is in violation of Standard VII(A).
C. Both Gordon and Haney are in violation of Standard VII(A).
【单选】 Stephanie Orange, Level II CFA candidate, posts blogs for her exam study group three days after the exam to vent her frustrations over the exam. However, to avoid disclosing what was actually on the exam, she only discusses topic areas she thought would be on the exam that were not. She writes "...the topics selected were unnecessarily obscure. Important items like FCF, DDM, and Residual Income were ignored completely..." Orange is most likely:
A. not in violation as the information was only about what was NOT on the exam.
B. not in violation as the information about the actual exam contents was posted after the conclusion of the exam.
C. in violation of Standard VII(A) "Conduct as Members and Candidates in the CFA Program" for providing confidential information about the exam.
【单选】 Joe James, CAIA, CPA, is a CFA Level II candidate living in Boston. In the course of his accounting practice, James often refers clients to a local law firm specializing in estate planning. James does not violate client confidentiality and does not receive compensation for the referral. However, the law firm often gives James tickets to the theater and major sporting events.Which of the following statements regarding disclosure is CORRECT? James:
A. need not disclose the benefits received for referring clients because no compensation is received.
B. need not disclose the benefits received for referring clients because the clients were developed in the course of his accounting practice.
C. must disclose the benefits received for referring clients to the law firm.
【单选】 If a CFA charterholder receives a referral fee, he must:
A. disclose the nature of the fee arrangement to the client before entering into a formal agreement.
B. consult with the firm's compliance officer, and follow his or her instructions concerning disclosure.
C. disclose the fee to the supervisor, in written form, as an additional benefit.
【单选】 Vijay Gill, CFA, leases office space from Land Bank in exchange for an agreement that Gill will pay Land 20% of any fees paid by Land customers to Gill for investment management services. Gill also has an arrangement with Bloom Insurance Advisors whereby Gill receives a fee for each client referred. Gill only refers clients that request insurance products. Gill meets with Randolph Song, a Land Bank customer, who is interested in Gill’s asset management services as well as insurance products. Gill is required to disclose to Song:
A. the terms of the arrangement with Bloom, but not the terms of the arrangement with Land Bank.
B. the terms of the arrangements with both Land Bank and Bloom.
C. neither the Land Bank nor Bloom arrangements, but may disclose them if he chooses to do so.
【单选】 An analyst who is a member of CFA Institute has composed an introductory information packet for her new clients, which includes information on fees she receives for referring clients to other professionals and those she pays for having clients referred to her. With respect to Standard VI(C), Referral Fees, this action:
A. may not satisfy the Standard if such information is only provided after the receivers of the information have become clients.
B. is not addressed in the Standard.
C. exceeds the requirement of the Standard because she does not need to reveal the fees she pays to those that refer clients to her.
【单选】 Wes Smith, CFA, refers many of his clients to Bill Towers, CPA, for accounting services. In return, Towers performs routine services for Smith, such as his tax returns, for no charge. Towers has just become a member of CFA Institute. With this development, Towers must:
A. only reveal to the prospects referred by Smith that he performs services for Smith.
B. reveal to the prospects referred by Smith that he performs services for Smith, along with the estimated value of those services.
C. discontinue his services for Smith.
【单选】 Wes Smith, CFA, refers many of his clients to Bill Towers, CPA, for accounting services. In return, Towers performs routine services for Smith, such as his tax returns, for no charge. With respect to this relationship, Smith:
A. is in violation of both Standard V(B) and III(B).
B. is only in violation of Standard III(B), Fair Dealing, by not putting the client first.
C. must disclose to his clients that Towers provides services for Smith's personal benefit.
【单选】 Lance Tuipulotu, CFA, is a portfolio manager for an investment advisory firm. He plans to sell 10,000 shares of Park N’Wreck, Inc. to finance his daughter’s new restaurant venture, but his firm recently upgraded the stock to "strong buy." In order to remain in compliance with Standard VI(B) "Priority of Transactions," Tuipulotu must:
A. not sell the shares of Park N’Wreck.
B. delay selling the shares until a firm client makes an offsetting purchase to avoid having a market impact.
C. notify his firm of his intention to sell the shares before selling the shares.
【单选】 An analyst, who is a CFA Institute member, manages a high-grade bond mutual fund. This is his only professional responsibility. When the analyst comes across a speculative stock investment that he feels is a good investment for his personal portfolio, the analyst:
A. may invest in the stock because the analyst would not purchase the stock for the bond portfolio he manages.
B. is in violation of Standard IV(A), Loyalty to Employer, by spending time analyzing stocks when he should only analyze bonds.
C. must notify his supervisor about the stock according to Standard VI(B), Priority of Transactions, to see if it is appropriate for the portfolio that he manages.
【单选】 Andy Rock, CFA, is an analyst at Best Trade Co. The company is going to announce a sell recommendation on Biomed stock in one hour. Rock was a member of the team who reached the decision on Biomed. Rock’s wife has an account at Best Trade Co. that contains Biomed stock. According to the Code and Standards, trading on Rock’s wife’s account can begin:
A. as soon as the information is disseminated to all clients.
B. only after the recommendation is announced to the general public.
C. only after Rock, as a beneficial owner, has given an appropriate amount of time for clients and his employer to act.
【单选】 Samuel Goldstein, CFA, is an analyst for Tamarack Securities. Goldstein’s father, Reuben, has a client account at Tamarack. In ordering trades, Goldstein should place orders in:
A. his clients' accounts first, his father's account second, and his account last.
B. his clients' and his father's accounts in the first group and his personal accounts in the second group.
C. all accounts simultaneously.
【单选】 Gordon McKinney, CFA, works in the trust department of a bank. The bank's trust account holds a large block of a particular company. McKinney learns that this company is going to buy back one million shares at a 15% premium to the market price on a first-come-first-served basis. McKinney immediately tells his mother-in-law to tender her shares but waits until the end of the day to tender the trust's shares. McKinney has most likely violated:
A. Standard VI(B), Priority of Transactions.
B. Standard IV(A), Loyalty to Employer.
C. Standard II(A), Material Nonpublic Information.
【单选】 Lee Hurst, CFA, is an equity research analyst for a long-term investment fund. His annual bonus is linked to quarterly trading profits. Under a new policy, the quarterly assessment period is switched to a monthly assessment period. According to the Code and Standards, best practices dictate:
A. requiring Hurst to obtain permission from each client prior to implementation of the new policy.
B. keeping the policy change private as a trade secret.
C. updating disclosures when the policy change is implemented.
【单选】 To comply with the CFA Institute Standards, employees have a duty to disclose possible conflicts of interest to:
A. both their employer and their clients.
B. neither employers nor clients, but the member must use "prudent judgment."
C. only their employer.
【单选】 The following scenarios refer to two analysts who are employed at Global Securities, a large brokerage firm. Paula Linstrom, CFA, is instructed by her supervisor to write a research report on Delta Enterprises. Delta's stock is widely held by institutional and individual investors. Although Linstrom does not own any of Delta's stocks, she believes that one of her friends may own 10 shares of Delta. The stock currently sells for $25 per share. Linstrom does not believe that informing her employer about her friend's possible ownership of Delta shares is necessary. Hershel Wadel, a member of CFA Institute, is asked by his supervisor to write a research report on Gamma Company. Wadel's wife inherited 500 shares of Gamma Company from her father when he died five years ago. Gamma stock currently sells for $35 per share. Wadel does not believe that informing his employer about his wife's ownership of Gamma shares is necessary. According to CFA Institute Standards of Professional Conduct, which the following statements about Linstrom and Wadel's conduct is most accurate?
A. Neither of these analysts must disclose a potential conflict of interest.
B. Only one of these analysts must disclose a potential conflict of interest.
C. Both of these analysts must disclose a potential conflict of interest.
【单选】 Will Lambert, CFA, is a financial analyst for Offshore Investments. He is preparing a purchase recommendation on Burch Corporation for internal use. According to the CFA Institute Standards of Professional Conduct, which of the following statements about disclosure of conflicts is not required? Lambert would NOT need to disclose to his employer that:
A. his wife owns 2,000 shares of Burch Corporation.
B. Offshore is an OTC market maker for Burch Corporation's stock.
C. he is a beneficiary of a pension plan of his former employer that owns a large number of shares of Burch's stock.
【单选】 An analyst is serving on the Board of Directors of a local publicly traded company. To avoid violating the CFA Institute Code and Standards, the analyst must disclose this to:
A. both his employer and his clients and prospective clients.
B. only his employer.
C. no one since it should not cause a conflict of interest for the analyst.
【单选】 Fern Baldwin, CFA, as a representative for Fernholz Investment Management, is compensated by a base salary plus a percentage of fees generated. In addition, she receives a quarterly performance bonus on a particular client’s fee if the client’s account increases in value by more than 2 points over a benchmark index. Baldwin had a meeting with a prospect in which she described the firm’s investment approach but did not disclose her base salary, percentage fee, or bonus. Baldwin has:
A. violated the Standards by not disclosing her salary, fee percentage, and performance bonus.
B. not violated the Standards because there is no conflict of interest with a potential prospect in the employment arrangements.
C. violated the Standards by not disclosing her performance bonus.
【单选】 Ray Stone, CFA, follows the Amity Paving Company for his employer. Which of the following scenarios is Stone least likely to have to disclose to his employer.
A. Stone's ownership of Amity securities.
B. Stone's personal relationship with the CEO of Amity.
C. The fact that Stone's son worked at Amity as a laborer during the summer while in school.
【单选】 Arthur Harrow, CFA, is a pharmaceuticals analyst at Dominion Asset Management. His supervisor directs him to prepare separate research reports on Miracle Drug Company and Wonder Drug Company. Harrow's former college roommate and close friend is the president of Miracle. Harrow owns 2000 shares of Wonder, which currently sells for $25 a share. Harrow's supervisor is unaware of these facts. According to CFA Institute Standards of Professional Conduct, which of the following action, if any, is Harrow required to take if he writes the research reports?
A. Harrow must disclose to Dominion both his relationship with the president of Miracle and his ownership of shares in Wonder.
B. Harrow must disclose to Dominion his ownership of shares in Wonder but not his relationship with the president of Miracle.
C. Harrow must disclose to Dominion his relationship with the president of Miracle but not his ownership of shares in Wonder.

CPA 会计从业初级职称中级职称 ACCA CMA USCPA CFA FRM 基金从业银行从业证券从业期货从业