"morality" exercise:the CFA Institute Professional Conduct Program
学习是一个不断积累的过程，每天学习一点，每天进步一点！为了帮助大家更高效地备考2021年CFA考试，正保会计网校每日为大家上新CFA习题供大家练习。让网校与您一起高效备考2021年CFA考试，梦想成真！
Questions 1:
Which of the following least likely forms the basic structure for enforcement of the CFA Institute Professional Conduct Program?
A、 Bylaws
B 、Rules of Procedure
C、 Board of Governors
Questions 2:
Ross Nelson, CFA, manages accounts for high-net-worth clients including his own family’s account. He has no beneficial ownership in his family’s account. Because Nelson is concerned about the appearance of improper behavior in managing his family’s account, when his firm purchases a block of securities, Nelson allocates to his family’s account only those shares that remain after his other client accounts have their orders filled. The fee for managing his family’s account is based on his firm’s normal fee structure. According to the Standards of Practice Handbook, Nelson’s best course of action with regard to management of his family’s account would be to:
A 、treat the account like other client accounts.
B 、treat the account like other employee accounts of the firm.
C 、remove himself from any direct involvement by transferring responsibility for this account to another investment professional in the firm.
C is correct. Although the Board of Governors maintains oversight and responsibility for the Professional Conduct Program, the CFA Institute Bylaws and Rules of Procedure form the basic structure for enforcement of the Code and Standards.
A is incorrect because although the Board of Governors maintains oversight and responsibility for the Professional Conduct Program the CFA Institute Bylaws and Rules of Procedure form the basic structure for enforcement of the Code and Standards.
B is incorrect because although the Board of Governors maintains oversight and responsibility for the Professional Conduct Program the CFA Institute Bylaws and Rules of Procedure form the basic structure for enforcement of the Code and Standards.
A is correct as Nelson has breached his duty to his family by treating them differently from other clients. They are entitled to the same treatment as any other client of the firm. Nelson should treat his family’s account like any other client account [Standard III(B) related to fair dealing and Standard VI(B) related to Priority of Transactions].
B is incorrect as this action is not necessary.
C is incorrect as this action is not necessary.
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”。
