"morality" exercise:Knowledge of the Law

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Questions 1:

Jacques Lagarde, CFA, is a sell-side analyst at Springhill Financial, a small investment bank. Springhill is the lead manager for the equity offering of Chorale Music. Lagarde is not part of the IPO team for this offering. While finalizing a research report on Chorale, Lagarde discovers inconsistencies that makes him believe the company may have concealed losses in its leasing division last quarter that would significantly reduce its earnings. Lagarde suspects that Springhill’s investment banking team are aware of these unreported losses. The prospectus for Chorale’s equity offering has already been approved by regulators and distributed to potential investors. According to the CFA Institute Code of Ethics and Standards of Professional Conduct, Lagarde should most likely:

A 、report the issue to his supervisor.

B 、issue a report showing the leasing division losses.

C、 issue the report using data as reported in the prospectus.

Questions 2:

For firms to claim compliance with the GIPS standards they most likely must:

A 、take responsibility for their claim of compliance and maintaining that compliance.

B 、hire an independent third party to test a sample of their composites.

C、 increase the consistency and quality of the firm’s compliant presentations.

成功=时间+方法，自制力是这个等式的保障。世上无天才，高手都是来自刻苦的练习。而人们经常只看到“牛人”闪耀的成绩，其成绩背后无比寂寞的勤奋。小编相信，每天都在勤奋练习，即使是一点点的进步，大家一定可以成为人人称赞的“牛人”。更多CFA考试资讯，点击了解>