1.
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:
• A. the press releases only.
• B. the research report only.
• C. both the press release and the research report.
答案C.
CFA要求成员必须披露所有可能影响其金融专业领域客观性的情况。
Members should disclose all matters that reasonably could be expected to impair the member's objectivity as outlined in Standard I(B), and Standard VI(A).
O'Sullivan 是两家公司的所有者和唯一员工。一家公共关系公司，一家金融调研公司。两家公司都和金融专业领域相关。
由于O'Sullivan 获得了Mallory Enterprises 4,000只股票，O'Sullivan 拥有的公司发布的研究报告和新闻的客观性可能受到影响。因此两个都要披露。
2.
According to the Global Investment Performance Standards (GIPS), which of the following is not a part of the verification process? Testing whether the:
• A. firm has complied with all the composite construction requirements.
• B. verification is undertaken by the compliance department in the absence of a third party.
• C. firm's processes and procedures are designed to calculate results in compliance with GIPS standards.
答案B.
如果一个投资机构承诺遵守GIPS，它必须要每期投资报告通过可信的第三方审核。
3.
Jiro Sato, CFA, deputy treasurer for May College, manages the Student Scholarship Trust. Sato issued a request for proposal (RFP) for domestic equity managers. Pamela Peters, CFA, a good friend of Sato, introduces him to representatives from Capital Investments, which submitted a proposal. Sato selected Capital as a manager based on the firm's excellent performance record. Shortly after the selection, Peters, who had outstanding performance as an equity manager with another firm, accepted a lucrative job with Capital. Which of the CFA charterholders violated the CFA Institute Standards of Professional Conduct?
• A. Both
• B. Neither
• C. Peters
答案B
Members should use reasonable care and judgment to maintain independence and objectivity, as stated in Standard I (B).
通过私交介绍client，介绍工作，介绍生意并不直接违反独立性和客观性。前提是对方的专业能力和水平足够好，并且没有收取任何礼物，介绍费或者好处。
本题虽然Sato和Peters是好朋友，但是Sato的判断是基于firm's excellent performance record”而不是私人交情。同时Peter得到工作的原因也是因为他的“outstanding performance”而不是和Sato的关系。题目没有提供两人在工作过程中人任何利益交换的事实。因此两个人都不违反任何CFA道德准则。
