职业伦理模块 Referral Fees Q: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: is in violation of both Standard V(B) and III(B

职业伦理模块 Priority of Transaction Q:Rose, a portfolio manager for a local investment advisory firm, is planning to sell a portion of his personal investment portfolio to cover the costs of his child's academic tuition. Rose wants to sell a portion of his holdings in Household Products, but his firm

职业伦理模块 Disclosure of Conflicts Q:Smith is a financial analyst with XYZ Brokerage Firm. She is preparing a purchase recommendation on JNI Corporation. Which of the following situations is most likely to represent a conflict of interest for Smith that would have to be disclosed? Smith frequently

职业伦理模块 Additional Compensation Arrangements Q:A fund manager who is an independent third party is responsible for the equity portfolio of a high-tech company. He sits as the board member of the company and is invited to take the plane of board’s directors for free. Because there is no cash

职业伦理模块 Proceedings and Hearing Panel Q：If a member does not accept a sanction from a designated officer of CFA PCP, the matter is referred to a hearing panel made up of: Local CFA society board member. The CFA Institute Standards of Practice Council. DRC members and CFA Institute member volunteers.

职业伦理模块 Record Retention Q:Guillermo Sandoval, CFA, owns an asset management firm with offices downtown, To minimize rent expenses, each year Sandoval ships the previous year’s research records to a nearby warehouse. There, the reports are digitized and stored in both electronic and hard-copy forms.

职业伦理模块 Misconduct Q：Hellen, CFA, has been accused of professional misconduct by one of her competitors. The allegations concern Hellen’s personal bankruptcy filing when she was a college student five years ago. By not disclosing the bankruptcy filing to her clients, did Hellen violate any CFA

职业伦理模块 Loyalty Q:A former hedge fund manager, Jackman, has decided to launch a new private wealth management firm. From his prior experiences, he believes the new firm needs to achieve $1 million in assets under management in the first year. Jackman offers a $10,000 incentive to any adviser who

职业伦理模块 Misrepresentation Q:Marc Randall, CFA, is an investment analyst. During a meeting with a potential client, Randall's boss states that, "You can be sure our investments will always outperform Treasury Bonds because of our fine research staff members, like Marc." Randall knows

职业伦理模块 Preservation of Confidentiality Andrew Mader, CFA, is an analyst with Metro Investment Services. During lunch with some of Metro's managers, Mader is told, "There are going to be major problems at Gebco (a firm that Metro had brought public last year). I was just over there and the place