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Quiz

Ethics

Sukey Huang 93 perguntas

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Perguntas do quiz (93)

  1. 1Which of the following best identifies an internal trait that may lead to poor ethical decision making?
    1. AOverconfidence
    2. BLoyalty to employer
    3. CPromise of money or prestige
  2. 2Situational influences in decision making will most likely be minimized if:
    1. Astrong compliance programs are in place.
    2. Blonger-term consequences are considered.
    3. Cindividuals believe they are truthful and honest.
  3. 3Decision makers who use a compliance approach are most likely to:
    1. Aavoid situational influences.
    2. Boversimplify decision making.
    3. Cconsider more factors than when using an ethical decision-making approach.
  4. 4Which of the following statements clearly conflicts with the recommended procedures for compliance presented in the CFA Institute Standards of Practice Handbook?
    1. AFirms should disclose to clients the personal investing policies and procedures established for their employees.
    2. BPrior approval must be obtained for the personal investment transactions of all employees.
    3. CFor confidentiality reasons, personal transactions and holdings should not be reported to employers unless mandated by regulatory organizations.
  5. 5Scott works for a regional brokerage firm. He estimates that Walkton Industries will increase its dividend by US$1.50 a share during the next year. He realizes that this increase is contingent on pending legislation that would, if enacted, give Walkton a substantial tax break. The US representative for Walkton’s home district has told Scott that, although she is lobbying hard for the bill and prospects for its passage are favorable, concern of the US Congress over the federal deficit could cause the tax bill to be voted down. Walkton Industries has not made any statements about a change in dividend policy. Scott writes in his research report, “We expect Walkton’s stock price to rise by at least US$8.00 a share by the end of the year because the dividend will increase by US$1.50 a share. Investors buying the stock at the current time should expect to realize a total return of at least 15% on the stock.” According to the Standards:

    1. AScott violated the Standards because he used material inside information.
    2. BScott violated the Standards because he failed to separate opinion from fact.
    3. CScott violated the Standards by basing his research on uncertain predictions of future government action.
  6. 6Rule has worked as a portfolio manager for a large investment management firm for the past 10 years. Rule earned his CFA charter last year and has decided to open his own investment management firm. After leaving his current employer, Rule creates some marketing material for his new firm. He states in the material, “In earning the CFA charter, a highly regarded credential in the investment management industry, I further enhanced the portfolio management skills learned during my professional career. While completing the examination process in three consecutive years, I consistently received the highest possible scores on the topics of Ethics, Alternative Investments, and Portfolio Management.” Has Rule violated Standard VII(B)–Reference to CFA Institute, the CFA Designation, and the CFA Program in his marketing material?
    1. ARule violated Standard VII(B) in stating that he completed the exams in three consecutive years.
    2. BRule violated Standard VII(B) in stating that he received the highest scores in the topics of Ethics, Alternative Investments, and Portfolio Management.
    3. CRule did not violate Standard VII(B).
  7. 7Stafford is a portfolio manager for a specialized real estate mutual fund. Her firm clearly describes in the fund’s prospectus its soft dollar policies. Stafford decides that entering the CFA Program will enhance her investment decision-making skill and decides to use the fund’s soft dollar account to pay the registration and exam fees for the CFA Program. Which of the following statements is most likely correct?
    1. AStafford did not violate the Code and Standards because the prospectus informed investors of the fund’s soft dollar policies.
    2. BStafford violated the Code and Standards because improving her investment skills is not a reasonable use of the soft dollar account.
    3. CStafford violated the Code and Standards because the CFA Program does not meet the definition of research allowed to be purchased with brokerage commissions.
  8. 8After investigation, if the member or candidate does not accept the charges and proposed sanction, the matter is referred to
    1. AProfessional Conduct staff only
    2. BBoard of Governors
    3. CA panel composed of DRC members
  9. 9Steven Kobren, who has taken her level II exam, was suspended to have violated testing rules on exam day. The Professional Conduct staff will conduct investigation later on that may not include:
    1. Aasking her to submit a written explanation.
    2. Bsuspending from participation in the CFA Program
    3. Ccollecting all relevant documents and records
  10. 10Which of the following is not a part of the CFA Institute Code of Ethics?
    1. AMaintain and improve their professional competence and strive to positively affect other investment professionals.
    2. BInvestment transactions for clients and employers must have priority over transaction in which a member or candidate is the beneficial owner.
    3. CUse reasonable care and exercise independent professional judgement when conducting investment analysis, making investment recommendations, taking investment actions.

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Descrição
Level 1 CFA (First Attempt) Quiz sobre Ethics, criado por Sukey Huang em 05-06-2018.
Idioma
English
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