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http://www.cfainstitute.org/centre/codes/ethics/self_exam.html
It's free, just log in and complete 49 question about Code of Ethics and Standards of Professional Conduct.
e vừa mới làm bài self test, score 36/49 ~ 73%:wall:. bên analystfofum toàn làm được 41 câu trở lên. có người làm tới 45/49, thậm chí không đọc material mà cũng được những 42/49. sợ thật.
Khi làm xong chỉ có kết quả hiện ra đúng sai ở mỗi câu nhưng không có đáp án. Vậy nên e xin post lên mấy câu e làm sai để mong mấy anh chị giúp ạ!
Question 5 of 49
Which one of the following scenarios is MOST LIKELY to be a violation of the Code and Standards:
A.A conviction for possession of drugs.
B.Submitting false expense reimbursement forms.
C.Personal bankruptcy.
D.A conviction for drunk driving.
Question 6 of 49
The corporate finance department of an investment banking firm has decided to compete for the business of Deerlea Corporation. Knowing that the firm's brokerage unit now has a "sell" recommendation on Deerlea, the head of investment banking asks the head of the brokerage unit to change the recommendation from "sell" to "buy." The brokerage unit should:
A.Remove the company from the research universe and put it on a restricted list giving only factual information about the firm.
B.Reassign responsibility for rating the stock to the head of the investment banking unit.
C.Increase the rating by no more than one increment (in this case to a "hold" recommendation).
D.Assign a new analyst to the company and change the rating.
Question 10 of 49
Which of the following is LEAST LIKELY to be considered a “material” piece of information regarding a company:
A.Changes in company management.
B.Loss of a customer representing a significant portion of a company’s gross sales.
C.A former CFO of the company predicting long-term decline in the company’s stock.
D.A government report of economic trends affecting a company.
Question 11 of 49
When changing employers or starting another company, which of the following statements regarding the responsibilities of CFA Institute members is/are CORRECT:
I. Departing employees are free to make arrangements or preparations to go into competitive business before terminating their relationship with their employer.
II. Departing employees have a duty to act in their employer's best interests until their resignations become effective.
III. Departing employees may solicit their employer's clients for the new venture prior to cessation of employment.
A.II only.
B.II and III.
C.I and II.
D.I only.
Question 16 of 49
Gaines, a financial analyst for Skinner Investment Counseling, is told by the investor relations representative for Firebird Avionics, a major aircraft parts manufacturer, that the firm is in the final stages of building a new fuel efficient jet engine. This information is divulged by Firebird at the most recent quarterly conference call for analysts. Gaines uses this information along with other information he obtained from the company and distributed to the public in a research report that includes a "buy" recommendation for Firebird stock. Which of the following statements is CORRECT:
A.Gaines violated the Code and Standards because he has a material misrepresentation in his report.
B.Gaines violated the Code and Standards because he failed to separate opinion from fact.
C.Gaines violated the Code and Standards because he used material nonpublic information.
D.Gaines' actions did not violate the Code and Standards.
Question 22 of 49
Which of the following statements regarding supervisory responsibility is/are CORRECT under the Code and Standards:
I. CFA Institute members exercise reasonable supervision by establishing and implementing written compliance procedures.
II. Once compliance procedures are established, CFA Institute members must take reasonable steps to ensure that they are disseminated and enforced.
III. Misconduct by a member's subordinate automatically results in a violation of the Code and Standards by the member for failing to properly supervise the employee.
A.I, II, and III.
B.II and III.
C.I only.
D.I and II.
Question 28 of 49
Which of the following statements regarding research reports is/are CORRECT according to the Standards of Practice Handbook?
I. Members should outline known limitations of their analysis.
II. Reports should be supported by background and supporting information, and this information should be available to interested parties.
III. Members must include all relevant factors in research reports.
A.I and III.
B.II and III.
C.I and II.
D.I, II, and III.
Question 30 of 49
Zamorski, an investment manager, has a number of clients who have indicated that they do not wish to take on any additional risk in their portfolios. Zamorski attends a conference on a new type of derivative that has the potential to significantly increase portfolio performance but also increases the amount of risk to the portfolio. She invests in these new securities for all of her clients with great success. Zamorksi:
A.Has not violated the Code and Standards because the investment strategy she employed made money for her clients.
B.Has violated the Code and Standards by not following the investment parameters set forth by her clients.
C.Has violated the Code and Standards by investing in securities that increase the amount of risk in her clients’ portfolios.
D.Has not violated the Code and Standards because the amount of additional risk incurred for her clients is well within the parameters that the clients can tolerate in her opinion.
Question 34 of 49
Phoung has a number of investment management clients. He gives discount from his standard investment management fee rate to clients who have US$25 million or more in their accounts. He also provides personalized service to these clients, regularly checking in with them by phone to discuss new investment opportunities. Phoung:
A.Has violated the Code and Standards by personally discussing investment opportunities with only larger clients.
B.Has violated the Code and Standards by not treating all his clients fairly with respect to his investment management fees.
C.Has not violated the Code and Standards as long as his increased level of service to some clients has not disadvantaged other clients and he has disclosed his different levels of service to all his clients.
D.Has not violated the Code and Standards since the level of investment management fees charged to clients are not addressed by the Code and Standards.
Question 37 of 49
Which of the following is LEAST LIKELY to assist a Member in meeting their obligations with regard to presenting investment performance under the Code and Standards:
A.Complying with the Global Investment Performance Standards (GIPS).
B.Presenting the performance of the weighted composite of similar portfolios.
C.Presenting the performance of a new investment strategy by applying the strategy to historical performance data.
D.Making disclosures that explain the performance results being reported.
Question 38 of 49
Johansen is the portfolio manager for a large-cap equity investment fund. His colleagues at another investment firm make him aware of a small-cap company whose prospects for future growth and earnings are outstanding. He invests in the company on behalf of the fund and, in the course of the next two years, the performance of the company’s stock contributes greatly to his investment fund beating its benchmark. Johansen:
A.Has violated the Code and Standards since he became aware of the investment from his colleagues at another firm and therefore used confidential information.
B.Has not violated the Code and Standards because the investment was an equity investment which is the type contemplated by the investment fund he manages.
C.Has not violated the Code and Standards since the investment made money for his clients.
D.Has violated the Code and Standards because his investment in the small-cap company is contrary to the stated objectives of the fund.
Question 41 of 49
Zeller and Toffler have both passed Level II of the CFA Exam Program. Zeller circulates a resume stating that he is a candidate for the CFA designation and has passed Level II of the CFA Program. Toffler circulates a resume stating that he is a “CFA, Level II.” Which of the following statements are CORRECT:
A.Only Zeller has violated the Code and Standards.
B.Neither Zeller nor Toffler has violated the Code and Standards.
C.Only Toffler has violated the Code and Standards.
D.Both Zeller and Toffler have violated the Code and Standards.
Question 44 of 49
Which of the following statements clearly CONFLICTS with the recommended procedures for compliance presented in the Standards of Practice Handbook?
A.For confidentiality reasons, personal transactions should not be compared to those of clients or the employer unless requested by regulatory organizations.
B.Investment recommendations may be changed by an analyst without prior approval of a supervisory analyst.
C.Personal transactions include transactions in securities owned by the employee and members of his or her immediate family and transactions involving securities in which the employee has a beneficial interest.
D.Prior approval must be obtained for the personal investment trans¬actions of all employees.
thank you all!:015:
It's free, just log in and complete 49 question about Code of Ethics and Standards of Professional Conduct.
e vừa mới làm bài self test, score 36/49 ~ 73%:wall:. bên analystfofum toàn làm được 41 câu trở lên. có người làm tới 45/49, thậm chí không đọc material mà cũng được những 42/49. sợ thật.
Khi làm xong chỉ có kết quả hiện ra đúng sai ở mỗi câu nhưng không có đáp án. Vậy nên e xin post lên mấy câu e làm sai để mong mấy anh chị giúp ạ!
Question 5 of 49
Which one of the following scenarios is MOST LIKELY to be a violation of the Code and Standards:
A.A conviction for possession of drugs.
B.Submitting false expense reimbursement forms.
C.Personal bankruptcy.
D.A conviction for drunk driving.
Question 6 of 49
The corporate finance department of an investment banking firm has decided to compete for the business of Deerlea Corporation. Knowing that the firm's brokerage unit now has a "sell" recommendation on Deerlea, the head of investment banking asks the head of the brokerage unit to change the recommendation from "sell" to "buy." The brokerage unit should:
A.Remove the company from the research universe and put it on a restricted list giving only factual information about the firm.
B.Reassign responsibility for rating the stock to the head of the investment banking unit.
C.Increase the rating by no more than one increment (in this case to a "hold" recommendation).
D.Assign a new analyst to the company and change the rating.
Question 10 of 49
Which of the following is LEAST LIKELY to be considered a “material” piece of information regarding a company:
A.Changes in company management.
B.Loss of a customer representing a significant portion of a company’s gross sales.
C.A former CFO of the company predicting long-term decline in the company’s stock.
D.A government report of economic trends affecting a company.
Question 11 of 49
When changing employers or starting another company, which of the following statements regarding the responsibilities of CFA Institute members is/are CORRECT:
I. Departing employees are free to make arrangements or preparations to go into competitive business before terminating their relationship with their employer.
II. Departing employees have a duty to act in their employer's best interests until their resignations become effective.
III. Departing employees may solicit their employer's clients for the new venture prior to cessation of employment.
A.II only.
B.II and III.
C.I and II.
D.I only.
Question 16 of 49
Gaines, a financial analyst for Skinner Investment Counseling, is told by the investor relations representative for Firebird Avionics, a major aircraft parts manufacturer, that the firm is in the final stages of building a new fuel efficient jet engine. This information is divulged by Firebird at the most recent quarterly conference call for analysts. Gaines uses this information along with other information he obtained from the company and distributed to the public in a research report that includes a "buy" recommendation for Firebird stock. Which of the following statements is CORRECT:
A.Gaines violated the Code and Standards because he has a material misrepresentation in his report.
B.Gaines violated the Code and Standards because he failed to separate opinion from fact.
C.Gaines violated the Code and Standards because he used material nonpublic information.
D.Gaines' actions did not violate the Code and Standards.
Question 22 of 49
Which of the following statements regarding supervisory responsibility is/are CORRECT under the Code and Standards:
I. CFA Institute members exercise reasonable supervision by establishing and implementing written compliance procedures.
II. Once compliance procedures are established, CFA Institute members must take reasonable steps to ensure that they are disseminated and enforced.
III. Misconduct by a member's subordinate automatically results in a violation of the Code and Standards by the member for failing to properly supervise the employee.
A.I, II, and III.
B.II and III.
C.I only.
D.I and II.
Question 28 of 49
Which of the following statements regarding research reports is/are CORRECT according to the Standards of Practice Handbook?
I. Members should outline known limitations of their analysis.
II. Reports should be supported by background and supporting information, and this information should be available to interested parties.
III. Members must include all relevant factors in research reports.
A.I and III.
B.II and III.
C.I and II.
D.I, II, and III.
Question 30 of 49
Zamorski, an investment manager, has a number of clients who have indicated that they do not wish to take on any additional risk in their portfolios. Zamorski attends a conference on a new type of derivative that has the potential to significantly increase portfolio performance but also increases the amount of risk to the portfolio. She invests in these new securities for all of her clients with great success. Zamorksi:
A.Has not violated the Code and Standards because the investment strategy she employed made money for her clients.
B.Has violated the Code and Standards by not following the investment parameters set forth by her clients.
C.Has violated the Code and Standards by investing in securities that increase the amount of risk in her clients’ portfolios.
D.Has not violated the Code and Standards because the amount of additional risk incurred for her clients is well within the parameters that the clients can tolerate in her opinion.
Question 34 of 49
Phoung has a number of investment management clients. He gives discount from his standard investment management fee rate to clients who have US$25 million or more in their accounts. He also provides personalized service to these clients, regularly checking in with them by phone to discuss new investment opportunities. Phoung:
A.Has violated the Code and Standards by personally discussing investment opportunities with only larger clients.
B.Has violated the Code and Standards by not treating all his clients fairly with respect to his investment management fees.
C.Has not violated the Code and Standards as long as his increased level of service to some clients has not disadvantaged other clients and he has disclosed his different levels of service to all his clients.
D.Has not violated the Code and Standards since the level of investment management fees charged to clients are not addressed by the Code and Standards.
Question 37 of 49
Which of the following is LEAST LIKELY to assist a Member in meeting their obligations with regard to presenting investment performance under the Code and Standards:
A.Complying with the Global Investment Performance Standards (GIPS).
B.Presenting the performance of the weighted composite of similar portfolios.
C.Presenting the performance of a new investment strategy by applying the strategy to historical performance data.
D.Making disclosures that explain the performance results being reported.
Question 38 of 49
Johansen is the portfolio manager for a large-cap equity investment fund. His colleagues at another investment firm make him aware of a small-cap company whose prospects for future growth and earnings are outstanding. He invests in the company on behalf of the fund and, in the course of the next two years, the performance of the company’s stock contributes greatly to his investment fund beating its benchmark. Johansen:
A.Has violated the Code and Standards since he became aware of the investment from his colleagues at another firm and therefore used confidential information.
B.Has not violated the Code and Standards because the investment was an equity investment which is the type contemplated by the investment fund he manages.
C.Has not violated the Code and Standards since the investment made money for his clients.
D.Has violated the Code and Standards because his investment in the small-cap company is contrary to the stated objectives of the fund.
Question 41 of 49
Zeller and Toffler have both passed Level II of the CFA Exam Program. Zeller circulates a resume stating that he is a candidate for the CFA designation and has passed Level II of the CFA Program. Toffler circulates a resume stating that he is a “CFA, Level II.” Which of the following statements are CORRECT:
A.Only Zeller has violated the Code and Standards.
B.Neither Zeller nor Toffler has violated the Code and Standards.
C.Only Toffler has violated the Code and Standards.
D.Both Zeller and Toffler have violated the Code and Standards.
Question 44 of 49
Which of the following statements clearly CONFLICTS with the recommended procedures for compliance presented in the Standards of Practice Handbook?
A.For confidentiality reasons, personal transactions should not be compared to those of clients or the employer unless requested by regulatory organizations.
B.Investment recommendations may be changed by an analyst without prior approval of a supervisory analyst.
C.Personal transactions include transactions in securities owned by the employee and members of his or her immediate family and transactions involving securities in which the employee has a beneficial interest.
D.Prior approval must be obtained for the personal investment trans¬actions of all employees.
thank you all!:015:
