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Free CFA-Level-I Exam Braindumps (page: 9)

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PDF with 3963 Questions

Under what conditions is Standard II (B)- Professional Misconduct violated?

  1. The member is convicted of a misdemeanor.
    II. The member regularly engages in unprofessional but legal behavior.
    III. The member engages in dishonest activities that do not result in criminal conviction.
    IV. The member is convicted of a felony.
  2. II, III & IV.
  3. I, II & IV.
  4. I, II, III & IV.
  5. IV only.

Answer(s): A

Explanation:

This question pertains to Standard II (B) - Professional Misconduct. A misdemeanor conviction is only considered grounds for a violation of II (B) if it occurs repeatedly, or involves "moral turpitude" (lying, cheating, stealing, or other dishonest conduct). Unprofessional and dishonest behavior or a felony conviction are violations of Standard II (B).



Complete the following: According to The Code of Ethics, members of AIMR shall: "Act with ________, competence, dignity and in an ethical manner when dealing with the public, clients, prospects, employers, employees and fellow members."

  1. virtue
  2. none of these answers
  3. honorability
  4. integrity
  5. morality

Answer(s): D

Explanation:

According to The Code of Ethics, members of AIMR shall: "Act with integrity, competence, dignity and in an ethical manner when dealing with the public, clients, prospects, employers, employees and fellow members."



Standard IV of the Standards of Professional Conduct deals with Relationships with and Responsibilities to ________.

  1. None of these answers
  2. Clients and Prospects
  3. AIMR
  4. Supervisors
  5. the Employer

Answer(s): B

Explanation:

Standard IV of the Standards of Professional Conduct deals with Relationships with and Responsibilities to Clients and Prospects.



Each of the following is true regarding Standard II (A), except:

  1. You must be registered for the next CFA exam in order to call yourself a candidate.
  2. This standard relates to business cards and letterheads.
  3. This standard does not relate to oral statements.
  4. There is no designation for someone who has passed Level I, II, or III.
  5. All of these answers.
  6. Candidates may state that they have completed Level I, II, or III.

Answer(s): C

Explanation:

Standard II (A) relates to the responsibility of AIMR members and candidates to use their professional designation properly and in a non-misleading manner. A person must be registered to take the next scheduled CFA exam to be a "candidate" in the CFA program. There is no designation for someone who has passed Level I, II, or III of the CFA exam. Candidates may state, however, that they have completed Level I, II, or III.
The standard applies to all related explanations or descriptions of the CFA designation, including letterheads and business cards, resumes, directory listings, printed advertising, brochures and oral statements to clients and prospects.






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