[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) ( }/ g. ]+ `* k: L: d8 P# [8 v) g: V 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. B) + H, i+ ^2 ~8 @7 S 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. % g) t  c6 C; j. C$ Q" n! f C) 9 s- z3 O, `! m: h3 K) Z8 {% M4 ~" Q ! V' y$ D0 ?7 l8 p3 N; `. u2 d 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. 9 ]4 z1 y$ D5 D/ R1 b" { D) In the absence of specific applicable law or other regulatory requirements, the Code and Standards govern the member's actions. & F; ~7 O* J0 _7 o; `* V+ s8 G - X3 _' i1 o0 n 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) $ O3 d: B  O! X respect. $ O, t0 I+ l6 Y! i/ U. R$ F . A, S, I# l1 U B) 3 M: F) m; c& k( r% q) Q integrity. 8 U0 \5 P' Q1 |1 m" |; k! j8 y - U0 n- c( l  p( Z C) 7 M+ C3 q5 ?1 w8 \ competence. 7 X3 w# z/ c, x7 r4 L! q% _4 p ) ?/ J: x- W6 G: b; t D) ; P2 _1 H* n# S, Q# l humility. : N, L7 T+ Z. F( w' N# f ! m6 V$ `8 M( N) T0 T   R- ]8 ~2 i$ i 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) 3 f- n' M7 U! g- D7 G7 \- y  h - m* t, P7 i5 m/ d9 p must make reasonable efforts to detect violation of laws, rules, regulations, and the Code and Standards. B) - O6 b! }# L8 { are expected to have in-depth knowledge of the Code and Standards and to apply this knowledge in discharging their supervisory responsibilities. ' L) m  x9 J5 d* |6 F. v4 U! P C) are relieved of their supervisory responsibility if they delegate their supervisory duties to other members of CFA Institute. ! l. Y& d0 y$ V* P: y$ I 5 Y4 A# \3 H4 y7 E9 t D) should bring an inadequate compliance system to the attention of the firm's senior managers and recommend corrective action. * w' w& ]0 f# U* p0 F; C( F7 G$ t; V & s0 e+ G# V& w 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: : _8 h3 S7 c+ Y+ m; l% s4 U A) ; F. L/ X/ O& } not in violation of the Code and Standards. - _0 r# T' }5 r- {  H2 c 6 V7 K* m+ O. H+ A B) + @/ ^6 ^, v3 Q; |2 Y, s+ i in violation of the Standard concerning independence and objectivity. ( [7 o. y: O4 Q. A1 ]* n2 w0 N: S C) $ b& Z# Z2 c/ v4 J6 f in violation of the Standard concerning disclosure of conflicts to clients and prospects. " W9 H1 }! T" F7 T , G* r- b& s; P' m D) ( [4 k& B# Q, i4 y in violation of the Standard concerning disclosure of additional compensation arrangements. : s6 f4 |" H9 v9 v& N2 ~ ' O8 g( j6 W0 u Question：5 Adequate investment policy disclosure typically means clearly identifying the policy in: A) " E3 B8 |3 D6 [: p the prospectus. B) 1 W5 r% n+ o* G a tombstone advertisement in the Wall Street Journal or Financial Times. C) the annual report. " ?# b+ a$ G' B0 C' {1 Z6 x D) * I. x+ h, u; ~( p/ b an annual letter to all fund shareholders.

Kakashi_8

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