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來源: 正保會計網校編輯：大耳朵圖圖 2020/09/07 10:12:58　字體：大小

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【CFA習題】

1.Diana Fairbanks, CFA, is married to an auditor who is employed at a large accounting firm. When her husband mentions that a computer firm he audits will receive a qualified opinion, she thinks nothing of it. Later that week, when she reviews a new client account, she notices there are substantial holdings of this computer firm. When she does a thorough internet search for news on the company, she does not find anything about its most recent audit or any other adverse information. Which of the following actions concerning the computer stock should Fairbanks most likely take to avoid violating the CFA Institute Standards of Professional Conduct?

A. Complete a thorough and diligent analysis of the company and then sell the stock.

B. Sell the stock immediately because she has a reasonable basis for taking this investment action.

C. Take no investment action.

查看答案解析

【答案】

【解析】

The information concerning the qualified opinion is material. It is also nonpublic because it has not been released and is not available online, so the mosaic theory would not hold up in this case. As a result, she would be in violation of Standard II(A)–Material Nonpublic Information if she took investment action based on this information. She should also make reasonable efforts to achieve public dissemination of the information.

【CFA習題】

2.Margie Germainne, CFA, is a risk management consultant who has been asked by a small investment bank to recommend policies to prevent bank employees from front running client orders. These clients generally invest in one or more of the bank's large cap equity unit trusts. To ensure compliance with the CFA Institute Standards of Professional Conduct, Germainne should least likely recommend which of the following? Employees should be restricted from trading:

A. equity-related securities.

B. without prior permission.

C. during established time periods.

查看答案解析

【答案】

【解析】

Although Standard VI(B)–Priority of Transactions is designed to prevent any potential conflict of interest or the appearance of a conflict of interest with respect to personal transactions, it does not ban employees from trading securities. A ban on all equity-related securities could be excessively restrictive to employees and unnecessary if appropriate personal transaction policies and procedures are in place.

有時候，你必須一個人走，這不是孤獨，而是選擇。我們時時刻刻都在選擇，你選擇過什么樣的生活就需要付出什么樣的代價。既然選擇了CFA，就要朝著它勇敢向前，每天進步一點點，基礎扎實一點點，通過考試也就會更容易一點點。