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Free CFA-Level-I Exam Braindumps (page: 83)

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PDF with 3963 Questions

Misrepresentation of performance is prohibited by section ________ of the Standards of Professional Conduct.

  1. II (E)
  2. III (F)
  3. V (B)
  4. IV (E)
  5. III (A)

Answer(s): C

Explanation:

Standard V (B) states "Members shall not make any statements, orally or in writing, that misrepresent the investment performance that they or their firm have accomplished or can reasonably be expected to achieve."



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

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

Answer(s): D

Explanation:

Standard III of the Standards of Professional Conduct deals with Relationships with and Responsibilities to the Employer.



Standard IV (B.8) deals with ________.

  1. Prohibition against Use of Material Nonpublic Information
  2. Preservation of Confidentiality
  3. None of these answers
  4. Prohibition against Misrepresentation
  5. Disclosure of Referral Fees
  6. Disclosure of Conflicts to Clients and Prospects
  7. Priority of Transactions

Answer(s): E

Explanation:

Standard IV (B.8) states that members shall disclose to all clients any referral fees received by the member for the recommendation of any services to the client or prospect.



Which of the following statements is NOT correct?

  1. Members who work in a country where the Code and Standards impose a lesser degree of responsibility than local laws and regulations must still adhere to the Code and Standards.
  2. All of these statements are correct.
  3. Standards II through V address specific conduct.
  4. Standard I sets forth minimum standards relating to general activities.

Answer(s): A

Explanation:

If a member lives in a country, or provides investment services to a client residing in a country, with more strict securities laws than the Codes and Standards, he/she must comply with the more strict laws and regulations of the country.






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