Wu Yang, CFA, manages individual portf...

单项选择题Wu Yang, CFA, manages individual portfolios for Far East Trust Company. Hu Haiyun, a client, proposes to Wu Yang, "Any year my portfolio achieves at least a 20 percent return before taxes, you and your family can fly to Sanya in Hainan Province in China at my expense and use my condominium during the Spring Festival in February. " While Wu Yang does not inform his employer of the arrangement, he watches Hu Haiyun's portfolio performance intensively throughout the year and makes sure her account gets top priority for any partially executed block trade order. Hu Haiyun's portfolio return exceeds the 20 percent target for the year, and Wu Yang vacations in Sanya during the following February as Hu Haiyun's guest. According to the Standards of Professional Conduct, Wu Yang has least likely violated the CFA Institute Standards relating to:

A. fair dealing.
B. disclosure of conflicts.
C. priority of transactions.

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1.单项选择题With respect to the CFA Institute Code of Ethics and Standards of Professional Conduct, which of the following is least likely to prompt an inquiry by the CFA Institute Professional Conduct Program

A. Written complaints received by Professional Conduct staffs.
B. A violation report submitted by CFA examination proctors.
C. Internal investigations of members conducted by local CFA societies.

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2.单项选择题Lynn Moody, CFA, is an investment officer at the Lester Trust Company. Moody also volunteers on a fund-raising committee for a local nonprofit organization with the purpose of environment protection. Moody sees the name of David Bradford, a former client of her company on the list of prospective new donors. Without disclosing that Bradford was a former client, Moody tells the committee that Bradford has donated generously to similar nonprofit organizations. Has Moody most likely violated the Standards of Professional Conduct

A. No.
B. Yes, relating to disclosure of conflicts.
C. Yes, relating to preservation of confidentiality.

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3.单项选择题A member receives referral fees consideration from individuals outside the member's firm for the recommendation of a financial service. According to the Standards of Professional Conduct, before entry into any formal agreement for the service, the member is required to disclose to their employer, clients and prospective clients:

A. only the nature of the consideration.
B. only an estimated dollar value of the consideration.
C. both the nature and the estimated dollar value of the consideration.

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4.单项选择题Which of the following is least likely a violation of the CFA Institute Standards of Professional Conduct relating to knowledge of the law. A member is failure to:

A. dissociate from any violation of applicable laws, rules, or regulations.
B. seek the advice of compliance personnel or legal counsel concerning legal requirements.
C. disclose to CFA Instituteinvolvement in any civil litigation in the member's professional conduct statement.

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5.单项选择题Timothy Holt, CFA, is a portfolio manager for the Toro Aggressive Growth Fund, a large mutual fund with an aggressive-growth mandate in Fechtman Investments. While having lunch with his colleagues, Holt overheards the manager of Fechtman Investments' trading desk discussing a large sell order for shares of Samuel Corporation that will take the rest of this week to process. Samuel Corporation stocks take a dominant position in the Toro Aggressive Growth Fund. To protect his clients' interests, Holt immediately heads to his office and sells all the Samuel Corporation stocks held iii his fund. Has Holt most likely violated the Standards of Professional Conduct

A. No.
B. Yes, relating only to material nonpublic information.
C. Yes, relating both to material nonpublic information and priority of transactions.

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6.单项选择题According to the Practice of Handbook, when an inquiry into a member's professional conduct is initiated, which of the following most likely initially conducts the investigation that may include requesting a written explanation form the member or candidate

A. The CFA Institute Designated Officer.
B. The Disciplinary Review Committee.
C. The CFA Institute Professional Conduct staff.

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7.单项选择题With respect to the Standards of Professional Conduct relating to diligence and reasonable basis, which of the following statements is least accurate A member needs to:

A. ensure that his firm has standardized criteria for reviewing external advisers.
B. have an understanding of the parameters used in the model or quantitative research.
C. dissociate from team research reports that do not reflect the member's opinion.

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8.单项选择题Emilie Rome. CFA, is a stock broker in Miller investment consulting firm. Charlotte Everett, one of Rome's clients is a retiree living on income from her pension plan with below-average risk tolerance. Everett asks Rome to buy a structured product consisting of call and put stock options. Rome tells Everett that the product has significantly high risk and low income. However, Everett still confirms the order, and Rome executes the trade. Has Davis most likely violated the Standards of Professional Conduct

A. No.
B. Yes, relating to suitability.
C. Yes, relating to loyalty, prudence, and care.

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9.单项选择题Which of the following is most accurate With respect to accepting gifts from clients, CFA members:

A. may not accept business-related entertainment.
B. may accept modest giftsbelow $ 100 per gift without any disclosure.
C. must disclose to their employers benefits previously accepted from clients if notification is not possible prior to acceptance.

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