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"morality" exercise:Communication with Clients and Prospective Clients

来源: 正保会计网校 编辑:小鞠橘桔 2020/11/06 09:36:09 字体:

学习是一个不断积累的过程,每天学习一点,每天进步一点!为了帮助大家更高效地备考2021年CFA考试,正保会计网校每日为大家上新CFA习题供大家练习。让网校与您一起高效备考2021年CFA考试,梦想成真!

Questions 1:

Sergio Morales, CFA, believes he has found evidence that his supervisor is engaged in fraudulent activity involving a client’s account. When Morales confronts his supervisor, he is told the client is fully aware of the issue. Later that day, Morales contacts the client and upon disclosing the fraudulent activity, is told by the client to mind his own business. Following the requirements of local law, Morales provides all of his evidence, along with copies of the client’s most recent account statements, to a government whistle blower program. Has Morales most likely violated the CFA Institute Standards of Professional 

Conduct?

A、 No.

B、 Yes, concerning Duties to Employers.

C 、Yes, concerning Preservation of Confidentiality.

Questions 2:

Leng Bo, CFA, is a bond portfolio manager for individual investors. Last year, a client whose portfolio is limited to investment-grade bonds approved Bo’s purchase of a below investment grade bond. Because yields in the high grade fixed-income markets declined, Bo subsequently decides to enhance this client’s portfolio by investing in several additional bonds with ratings one or two notches below investment grade. The investment strategy implemented by Bo most likely violated which of the following CFA Institute Standards of Professional Conduct?

A 、Suitability

B、 Communications with Clients

C、 Independence and Objectivity

View answer resolution
【Answer to question 1】A

【analysis】

A is correct because Morales believes his supervisor and potentially the client are engaged in fraudulent activity and by following the requirements of local law, through their whistleblower program, he has not violated Standard III(E)–Preservation of Confidentiality or Standard (V)–Duties to Employers. 

 B is incorrect because Morales has not violated Standard (V)–Duties to Employers. 

 C is incorrect because Morales believes that his supervisor and potentially the client are engaged in fraudulent activity and by following the requirements of local law, through their whistleblower program, he has not violated Standard III(E)–Preservation of Confidentiality.

【Answer to question 2】A

【analysis】

A is correct because the client only approved the purchase of one below investment grade bond while the portfolio manager has purchased several additional bonds below investment grade without client approval in violation of Standard III(C).

 B is incorrect because no violation of this Standard has occurred.

 C is incorrect because no violation of this Standard has occurred.

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特许金融分析师限时免费资料

  • CFA报考指南

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    CFA考试大纲

  • CFA历年

    CFA历年

  • CFA学习计划

    CFA学习计划

  • CFA思维导图

    CFA思维导图

  • CFA备考建议

    CFA备考建议

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