职业伦理模块 Referral Fees Q: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

职业伦理模块 Priority of Transaction Q:Lily, CFA, is a co-founder of an investment club. For at least a year, the club is fully invested but has not actively traded its account, and it also does not plan to resume active trading of the account. As a result, when Lily was required to make an annual

职业伦理模块 Disclosure of Conflicts Q:Smith, CFA, is an analyst for small-capitalization companies at Asian Asset Management. Smith often speculates in low-price thinly traded stocks for his own account on his own time. Smith has purchased 40,000 shares of Basic Biology Company, giving her a 6

职业伦理模块 Communication with Clients and Prospect Clients Q:An analyst finds a stock with historical returns that are not correlated with interest rate changes. The analyst writes a report for his clients that have large allocations in fixed-income instruments and emphasizes the observed lack

职业伦理模块 Conduct as Members and Candidate Q:All of the following are violations of Standard VII(A), Conduct as Members and Candidates in the CFA Program, EXCEPT: expressing opinions in disagreement with CFA Institute advocacy positions. disregarding the rules related to the administration of the CFA

职业伦理模块 Diligence and Reasonable Basis Q:David, a CFA candidate, is a portfolio manager at Barbley Management Company. The company is considering investing offshore particularly in South America on behalf of its clientele, who are all high-net-worth individuals. As David does not have experience

职业伦理模块 Responsibility of Supervisors Q:A firm recently hired Jill Taylor to be a managing supervisor in the firm. Taylor knows that all of her subordinate supervisors are members of CFA Institute and that they have a compliance system in place with respect to the Code and Standards. Under

职业伦理模块 Disclosure of Conflicts Q:Hellen is a CFA candidate and an analyst at a pension consulting firm. Her father is a major shareholder and managing director at a large hedge fund, ABC. Hellen plans to recommend ABC's market-neutral strategy as she believes it meets all of the pension plan's

职业伦理模块 Additional Compensation Arrangements Q:An analyst needs to inform his supervisor in writing of which of the following? An annual bonus, sent to the analyst by a client, which varies with the performance of the client's portfolio that the analyst manages as an employee even though no verbal

职业伦理模块 Loyalty Q:Garrie, CFA chart holder, manages accounts for an institution, the employer and his parents. Among the three, his father does not pay for the investment service fee. When IPOs become available, how should he do? Allocate to the institution client and to the employer. Allocate