Ethics TE8 Test

Ethics TE8 Test

University - Professional Development

40 Qs

quiz-placeholder

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Ethics TE8 Test

Ethics TE8 Test

Assessment

Quiz

Professional Development

University - Professional Development

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40 questions

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1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

To comply with the GIPS® standards, firms most likely must:
A. apply standards on a firm-wide basis.
B. be verified before they can claim compliance.
C. be defined as separate legal entities.

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Q. Which one of the following actions will help to ensure the fair treatment of brokerage firm clients when a new investment recommendation is made?
A. Informing all people in the firm in advance that a recommendation is to be disseminated.
B. Distributing recommendations to institutional clients prior to individual accounts.
C. Minimizing the time between the decision and the dissemination of a recommendation.

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

When Jefferson Piedmont, CFA, joined Branch Investing, Branch began using a quantitative stock selection model Piedmont had developed on his own personal time prior to his employment with Branch. One year later when Piedmont left the firm, he found the original copy of the model he had developed in a file at his home and presented it to his new employer, who immediately began using the model. According to the Standards of Practice Handbook, did Piedmont most likely violate any CFA Institute Standards of Professional Conduct?
A. No.
B. Yes, because he misappropriated property now belonging to Branch.
C. Yes, because he failed to inform his new employer the model was the same one used by his previous employer.

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

A central bank fines a commercial bank it supervises for not following statutory regulations regarding non-performing loan provisions on three large loans as a result of the bank’s loan provisioning policy. Louis Marie Buffet, CFA, sits on the Board of Directors of the commercial bank as a non-executive director, representing minority shareholders. He also chairs the internal audit committee of the bank that determines the loan provisioning policy of the bank. Mercy Gatabaki, CFA, is the bank’s external auditor and follows international auditing standards whereby she tests the loan portfolio by randomly selecting loans to check for compliance in all aspects of central bank regulations. Which charterholder is most likely in violation of the Code and Standard?
A. Both.
B. Buffet.
C. Gatabaki.

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Oliver Opdyke, CFA, works for an independent research organization that does not manage any client money. In the course of his analysis of Red Ribbon Mining he hears rumors that the president of Red Ribbon, Richard Leisberg, has recently been diagnosed with late stage Alzheimer’s disease, a fact not publicly known. The final stage of Alzheimer’s is when individuals lose the ability to respond to their environment, the ability to speak, and, ultimately, the ability to control movement. Leisberg is the charismatic founder of Red Ribbon, and under his leadership the company grew to become one of the largest in the industry. According to the CFA Institute Code of Ethics and Standards of Professional Conduct, the most appropriate action for Opdyke is to:
A. immediately publish a sell recommendation for Red Ribbon Mining.
B. confirm the president’s diagnosis before publishing his research report.
C. encourage Red Ribbon Mining management to disclose the president’s medical condition.

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Q. Albert and Tye, who recently started their own investment advisory business, have registered to take the Level III CFA examination. Albert’s business card reads, “Judy Albert, CFA Level II.” Tye has not put anything about the CFA designation on his business card, but promotional material that he designed for the business describes the CFA requirements and indicates that Tye participates in the CFA Program and has completed Levels I and II. According to the Standards:
A. Albert has violated the Standards, but Tye has not.
B. Tye has violated the Standards, but Albert has not.
C. Both Albert and Tye have violated the Standards.

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which of the following is not part of the nine major sections of the GIPS® standards?
A. Performance Fees
B. Input Data
C. Disclosure

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