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单选题 Alexander Newton, CFA, is the chief compliance officer for Mills Investment Limited. Newton institutes a new policy requiring the pro rata distribution of new security issues to all established discretionary accounts for which the new issues are appropriate. The policy also provides for the exclusion of newly established discretionary accounts from the distribution until they have reached their one- month anniversary date. This policy is disclosed to all existing and potential clients. Did Newton most likely violate any CFA Institute Standards of Professional Conduct
学科：职业道德与操守
时间：2026-03-30 15:07:05
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题目1单选题
Claire Jones, CFA, is an analyst following natural gas companies in the United States. At an industry energy conference, the CFO of Alpine Energy states they are interested in making strategic acquisitions. At a separate event, Alpine's head of exploration commented he is bullish on natural gas production prospects within Northeastern Pennsylvania. Jones is aware that Alpine currently has very little exposure to this region. She also knows another company in her universe, Pure Energy, Inc., is based in Northeastern Pennsylvania and controls significant assets in the area. Pure Energy is highly leveraged, and Jones believes they will need to raise additional capital or partner with another firm to move to the production phase with their assets. Jones attempts to contact Alpine's CEO with an unrelated question and is told he is unavailable because he is on a business trip to Northeastern Pennsylvania. Jones updates her research on Pure Energy and then recommends the stock to Lisa Wong, CFA, a portfolio manager who purchases significant positions in client accounts. The following week, Pure Energy announces that they have entered into an agreement to be purchased by Alpine for a significant premium. Has either Jones or Wong most likely violated Standards with regards to the integrity of capital marketsA. NoB. Yes, Jones' recommendation is based on insider informationC. Yes, both Jones and Wong have acted on insider information
题目2单选题
Ian O'Sullivan, CFA, is the owner and sole employee of two companies, a public relations firm and a financial research firm. The public relations firm entered into a contract with Mallory Enterprises to provide public relations services, with O'Sullivan receiving 40,000 shares of Mallory stock in payment for his services. Over the next 10 days, the public relations firm issued several press releases that discussed Mallory's excellent growth prospects. O'Sullivan, through his financial research firm, also published a research report recommending Mallory stock as a "buy." According to the CFA Institute Standards of Professional Conduct, O'Sullivan is most likely required to disclose his ownership of Mallory stock in theA. press releases onlyB. research report onlyC. both the press release and the research report
题目3单选题
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题目4单选题
In order to provide investors with a more comprehensive view of a firm's performance, the current GIPS standards includes new provisions related toA. various measures of riskB. all aspects of performance measurementC. the unique characteristics of each asset class
题目5单选题
Darden Crux, CFA, a portfolio manager at SWIFT Asset Management Ltd. (SWIFT), calls a friend to join him for dinner. The friend, a financial analyst at Cyber Kinetics (CK) declines the invitation and explains she is performing due diligence on Orca Electronics, a company CK is about to acquire. After the phone call, Crux searches the Internet for any news of the acquisition but finds nothing. Upon verifying that Orca is on SWIFT's approved stock list, Crux purchases Orca's common stock and call options for selective SWIFT clients. Two weeks later, CK announces its intention to acquire Orca. The next day, Crux sells all of the Orca securities, giving the fund a profit of $3 million. What action should Crux most likely take to avoid violating any CFA Institute Standards of Professional ConductA. Refuse to trade based on the informationB. Purchase the stock and call options for all clientsC. Trade only after analyzing the stock diligently and thoroughly
题目6单选题
Alexander Newton, CFA, is the chief compliance officer for Mills Investment Limited. Newton institutes a new policy requiring the pro rata distribution of new security issues to all established discretionary accounts for which the new issues are appropriate. The policy also provides for the exclusion of newly established discretionary accounts from the distribution until they have reached their one- month anniversary date. This policy is disclosed to all existing and potential clients. Did Newton most likely violate any CFA Institute Standards of Professional ConductA. YesB. No, because this allocation policy is not inequitable under the StandardsC. No, because this policy has been adequately disclosed to all existing and potential clients
题目7单选题
Which of the following distinct entities can least likely claim compliance with the Global Investment Performance Standards (GIPS)A. A multi- national financial services holding companyB. An investment management division of a regional commercial bankC. A locally incorporated subsidiary undertaking investment management services
题目8单选题
Prudence Charmaine, a CFA charterholder, was recently accused in writing of cheating on a professional accounting exam. She denied cheating and successfully defended herself against the allegation. As part of her defense and as evidence of her character, Charmaine stated that she is a CFA charterholder and upholds the CFA Institute Code of Ethics and Standards of Professional Conduct. On her next annual Professional Conduct Statement, Charmaine does not report this allegation to CFA Institute. Did Charmaine most likely violate the CFA Institute Code of Ethics or Standards of Professional ConductA. NoB. Yes, she improperly used the CFA Institute Code and Standards to defend herselfC. Yes, she did not report the allegation on her annual Professional Conduct Statement
题目9单选题
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题目10单选题
Which of the following statements related to requirements for the CFA Institute Standards of Professional Conduct Standard V(B)–Communication with Clients and Prospective Clients is least likely accurate? The standard requires members and candidates toA. divulge the number of investment related personnel responsible for external communicationB. disclose the basic format and general principles of the investment processC. distinguish between fact and opinion in the presentation of investment analysis and recommendations
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