[LEVEL II 模拟试题] Mock Level II - Question 1-5

Kakashi_8

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Question：1 Which of the following is a CORRECT statement of a member's duty under the Code and Standards? A) ; _; z0 m+ [2 q/ O ) a+ Q3 _) c# K7 N1 R% p( a( G' X A member is required to comply only with applicable local laws, rules, regulations, or customs even though the CFA Institute code and Standards may impose a higher degree of responsibility or a higher duty on the member. % \8 L9 F" E+ w; w4 q B)   e, s- i# ^  |* _, N5 q+ g A member who trades securities in a foreign securities market where no applicable local laws or stock exchange rules regulate the use of material nonpublic information may take investment action based on this information. ) o( e; j% H8 y1 W C) & V; j# \$ Z0 u) y A member who trades securities in a country with less strict laws, rules, regulations, or customs may follow those laws if he discloses this information to his client.   i  j4 A/ ^$ u: ~) Y4 \ % o1 u2 {" A, X) H D) In the absence of specific applicable law or other regulatory requirements, the Code and Standards govern the member's actions. % I9 D, p% J4 h, f4 V! s) K 8 G4 I" Q; u  j; S5 O: O7 D Question：2 Which of the following is least likely a component of the Code of Ethics? In dealing with the public, clients, prospects, employers, employees, and fellow members, CFA Institute members shall act with: A) respect. 6 X# n/ t  K3 f5 U0 G B) . `( b! N5 V5 R- Z9 W ; @: t: K+ @; v1 C' ?8 C7 Q8 ~ integrity. , Z* ]  K1 E, Y1 ^- F0 R9 k  B * |- j) H' J5 f' W2 x- R C) & s6 k: E7 V, ]2 p  v 8 Y) n! {: w: v2 o; C competence. ' T1 ?. G3 e; D) `0 E D) 8 \1 M- T. t6 \ humility. / S. E% l* ?1 N9 Z$ K2 X% G $ U9 p; `9 k) x& R 4 u0 Q- C8 _& x2 d& b: s* r  X + ]; t9 i) D" g8 _/ V1 h$ s9 g$ Y; k Question：3 According to the CFA Institute Standards of Professional Conduct, which of the following statements about members with supervisory responsibility is FALSE? Members with supervisory responsibility: A)   L( V  ~1 u9 {8 [0 P must make reasonable efforts to detect violation of laws, rules, regulations, and the Code and Standards. ! Z' x) ]+ E1 F; v& Z& [ B) 2 ~/ O, [. l2 O5 U- }. \ are expected to have in-depth knowledge of the Code and Standards and to apply this knowledge in discharging their supervisory responsibilities. ; _( n2 t, F: T2 `; y 6 x* F5 w9 V2 w6 W- T C) + A  _# d7 P/ W4 j  t5 I! _/ V 3 _: f1 R+ z& Z: D2 P. v" z are relieved of their supervisory responsibility if they delegate their supervisory duties to other members of CFA Institute. D) should bring an inadequate compliance system to the attention of the firm's senior managers and recommend corrective action. - O! q$ `' v+ w( ` : D% i9 i4 J8 ?: I6 f Question：4 Tony Calaveccio, CFA, is the manager of the TrustCo Small Cap Venture Fund in Toronto. He places trades for the fund with River City Brokerage. River City presents Calaveccio with a case of wine at Christmas each year. He estimates that the value of the case is about US $90. He does not disclose this fact in the prospectus of the small cap venture fund. This action is: # ?1 a; k- M$ A( ] A) 6 Y+ z) Q! i$ e8 i' t* f) Q( C not in violation of the Code and Standards. 3 l6 o# j# K$ g/ S! B" Y( g 7 P. g% Y" y4 n+ X B) # N% f. q* L4 Q2 z2 o- e1 Q in violation of the Standard concerning independence and objectivity. 1 p# J: j+ `  l; E( I( ?& R ! F: ?1 u7 d* B( d  D4 x5 X8 p C) * @8 {4 L! Z  [3 u ) [. R& q7 s% B2 { in violation of the Standard concerning disclosure of conflicts to clients and prospects. ) F& I; l, k/ H! g D) " Q6 q1 O- M4 g- v! ~8 T in violation of the Standard concerning disclosure of additional compensation arrangements. * I" o7 l% I, X) N 4 {6 K" m4 a0 I$ j2 d2 I Question：5 Adequate investment policy disclosure typically means clearly identifying the policy in: A) & h, t9 @+ J& A; x# @/ ~& `  w& W  m the prospectus. B) 6 e/ Y# E: t! o% J( y9 q a tombstone advertisement in the Wall Street Journal or Financial Times. ' W4 k* V. L2 n4 d- r C) % P0 }- _3 G& |$ N! e. B4 F  u& }  k: _ . d/ @) F" e' v  _* z7 e) ~ the annual report. D) ; X. d# x9 ^, F4 N# a, R* q+ X an annual letter to all fund shareholders.

Kakashi_8

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