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1、1.AccordingtotheCFAInstituteCodeofEthicsandStandardsofProfessionalConduct,tradingonmaterialnonpublicinformationisleastlikelytobepreventedbyestablishing:A.fire-walls.B.watchlists.C.selectivedisclosure.Answer:CCFAInstituteStandards2010ModularLevelI,Vol.1,pp
2、.36-42StudySession1-2-cRecommendpracticesandproceduresdesignedtopreventviolationsoftheCodeofEthicsandStandardsofProfessionalConductCiscorrectasselectivedisclosureoccurswhencompaniesdiscriminateinmakingmaterialnonpublicinformationpublic.Corporationsthatdis
3、closeinformationonalimitedbasiscreatethepotentialforinsider-tradingviolations.StandardII(A).2.WilliamWong,CFA,isanequityanalystwithHayswickSecurities.Basedonhisfundamentalanalysis,Wongconcludesthestockofacompanyhefollows,NolvecInc.,issubstantiallyunderval
4、uedandwillexperiencealargepriceincrease.Hedelaysrevisinghisrecommendationonthestockfrom“hold”to“buy”toallowhisbrothertobuysharesatalowerprice.WongisleastlikelytohaveviolatedtheCFAInstituteStandardsofProfessionalConductrelatedto:A.dutytoclients.B.reasonabl
5、ebasis.C.priorityoftransactions.Answer:B8/8“GuidanceforStandardsI-VII”,CFAInstitute2010ModularLevelI,Vol.1,pp.48-50,80-81,94-95StudySession1-2-aDemonstrateathoroughknowledgeoftheCodeofEthicsandStandardsofProfessionalConductbyapplyingtheCodeandStandardstos
6、ituationsinvolvingissuesofprofessionalintegrity.BiscorrectbecausethereisnothingtosuggestthatWongdoesnothaveareasonablebasisforhisconclusionrelatedtoNolvec.StandardV(A).3.Duringanonsitecompanyvisit,MarshaWard,CFA,accidentallyoverheardtheChiefExecutiveOffic
7、er(CEO)ofStargazer,Inc.discussingthecompany’stenderoffertopurchaseDynamicaEnterprises,aretailerofStargazerproducts.AccordingtotheCFAInstituteStandardsofProfessionalConduct,Wardmostlikelycannotusetheinformationbecause:A.itrelatestoatenderoffer.B.itwasoverh
8、eardandmightbeconsideredunreliable.C.shedoesnothaveareasonableandadequatebasisfortakinginvestmentaction.Answer:A“GuidanceforStandardsI-VII”,CFAInstitute2009ModularLevelI,Vol.1,pp.36-42StudySession1-2-aDemonstrateath
