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15. Anna, CFA, is a manager for NCC Investment Inc, which plans to issue a new fund in 2007. Anna formed a model of composite based on the performance from 1999 to 2001, and reported the performance of 2001 to 2006, calculated by this model. In the historical performance presentation, only the performance of 2001 to 2006 based on the model has been distributed without claim the calculation method. Did Anna violate the Code and Standards with respect to:
Because the in the 2007 performance representation, he didn’t claim the calculation method, he violate composite performance representation. Meanwhile, the model used to calculate the performance of 2001 to 2006 is based on the performance from 1999 to 2001 and not disclosed, so he violates misrepresentation. |
16. Bradley is a CFA charter holder. He complains that he was very unsatisfied with the CFA regulation. Which of the following statements is right?
A. He violated the standard VII (A) Conduct as Members and Candidates in the CFA program by destroying the reputation of CFA institute.
B. He violated the standard I (C) Misrepresentation
C. He did not violate the Code and Standards.
Correct answer = C
This standard does not cover expressing opinions regarding the CFA program or CFA institute. Members and candidates are free to disagree and express their disagreement with CFA institute on its policies, procedures, or any advocacy positions take by the organization.
17. After extensive research, retired portfolio manager David Sandridge, CFA, purchased 30,000 shares of a small public company. He then posted messages on several Internet bulletin boards. The messages read, "This stock is going up once the pending patents are released. You would be crazy to sell anything below $5 in a few months from now. The stock is a buy at anything below $5. I just bought 30 K shares for my personal account. I have done some close research on these guys." According to the Standards of Practice Handbook, Sandridge most likely violated the Standard or Standards associated with:
A. Conflicts of Interest and Integrity of Capital Markets.
B. Integrity of Capital Markets, but not Conflicts of Interest.
C. Neither Conflicts of Interest nor Integrity of Capital Markets.
Correct answer = B
題目當中買了30K，首先他沒有違反conflicts of interest，因為他向客戶披露了自己賬戶上所持有的數(shù)額。但是，他是違反市場操縱的，因為他在互聯(lián)網(wǎng)上發(fā)布信息，就會人為地擴大交易量。
如果改成15K，就違反了misconduct。他披露的持股量與實際的持股量是不對的，違反了Misconduct，但沒有違反Conflict of interest。注意：You would be crazy to sell anything below $5 in a few months from now.一般我們看到這個人在網(wǎng)絡上說“crazy to…”表明此人在散播不實言論（謠言）
18. Which situation is the least likely to allow the analyst to disclosure the clients’ information?
A. The client’s activities are illegal
B. PCP inquire the material of the client
C. The client is dead
Correct answer = C
Members and candidates must keep information about client confidential unless: the information concerns illegal activities, disclosure is required by law or client permits disclosure of the information.
報考指南：2014年CFA考試備考指南
免費題庫：2014年CFA免費題庫
考前沖刺：CFA備考秘籍
高清網(wǎng)課：CFA考試網(wǎng)絡課程
