职业伦理模块 Market Manipulation Q:Hellen is a portfolio manager at Alena Investments (AI). Hellen manages a billion-dollar hedge fund and two large mutual funds. Market declines caused significant losses for all of the accounts. Hellen traded the stocks between the accounts to provide liquidity

职业伦理模块 Preservation of Confidentiality Q:Calvin Doggett, CFA, has been contacted by the CFA Institute Professional Conduct Program (PCP) regarding allegations that he has taken investment actions that were unsuitable for his clients. Doggett is questioned by PCP concerning the identity of his

职业伦理模块 Performance Presentation Q:Paul Salyer, a portfolio manager, is making a presentation to a prospective client. Paul says that as a new portfolio manager, he made an average annual rate of return of 50% in the last two years at his previous firm and that based on this, he can guarantee a 50

职业伦理模块 Priority of Transaction Q:An analyst routinely has the opportunity to offer his clients the opportunity to purchase “hot new issues.” He tells his clients that he will distribute each issue equally among those interested, with himself included in the distribution. The clients do not object

职业伦理模块 Misconduct Q：Anne, CFA, was required to sign an employment contract, including a non-compete clause restricting her from working for a competitor for three years after leaving the employer. After one year, Anne quits her job for a comparable position with an investment bank in a country

职业伦理模块 Suitability Q:According to CFA Institute Standards of Professional Conduct, when a client asks her portfolio manager to change the current investment strategy of the client’s portfolio, the manager should: explain the implications of the new strategy after the member manager implements

职业伦理模块 Suitability Q :A broker was sanctioned for unsuitable recommendations and excessive trading involving three accounts under his care. These clients were unsophisticated, inexperienced individual investors with limited means. According to CFA Institute Standard III(C), Suitability, which

职业伦理模块 Fair Dealing Q:Shirly, CFA, is an equity analyst at an investment banking division of Molly Financial Group, a full service financial group. A multifactor computer model was used by Shirly to make stock recommendations for all clients of Mollya. However, Shirly discovered that the model

职业伦理模块 Fair Dealing Q：Smith, a research analyst with a brokerage firm, decides to change his recommendation for the common stock of Green Company, Inc., from a “buy” to a “sell”. He mails this change in investment advice to all the firm’s clients on Wednesday. The day after the mailing, a client

职业伦理模块 Record Retention Q:Ethyl Redd recently joined Bloomington Investments as a research analyst. After spending an afternoon looking through the research team’s archives, Redd is not sure Bloomington maintains the records that support the team’s analysis and recommendations for the minimum