CFA职业道德与专业行为标准（CFA Ethical and Professional Standards）向来是CFA一级和CFA二级考试的重点之一（CFA一级的比重达15%）。

在CFA考试中，涉及到职业道德与专业行为标准的考题往往最先出现。迅速并准确解答这部分考题，不仅有助于从考试开始就建立起信心，也能提高通过考试的机率。

"Morality"exercise:Duties to Employers

While at a bar in the financial district after work,Ellen Miffitt,CFA,overhears several employees of a competitor discuss how they will manipulate down the price of a thinly traded micro cap stock’s price over the next few days.Miffitt’s clients have large positions of this stock so when she arrives at work the next day she immediately sells all of these holdings.Because she had determined the micro cap stock was suitable for all of her accounts at its previously higher price,Miffitt buys back her client's original exposure at the end of the week at the new,lower price.Which CFA Institute Standards of Professional Conduct did Miffitt least likely violate?

A、Market Manipulation

B、Preservation of Confidentiality

C、Material Nonpublic Information

CFA那点事儿
报名信息	成绩查询	证书领取	备考经验	课程辅导
就业指导	资料下载	考试大纲	真题解析	知识讲解

Sergio Morales,CFA,believes he has found evidence that his supervisor is engaged in fraudulent activity involving a client’s account.When Morales confronts his supervisor,he is told the client is fully aware of the issue.Later that day,Morales contacts the client and upon disclosing the fraudulent activity,is told by the client to mind his own business.Following the requirements of local law,Morales provides all of his evidence,along with copies of the client’s most recent account statements,to a government whistle blower program.Has Morales most likely violated the CFA Institute Standards of Professional Conduct?

A、No.

B、Yes,concerning Duties to Employers.

C、Yes,concerning Preservation of Confidentiality.

【Answer to question 2】A

【analysis】

A is correct because Morales believes his supervisor and potentially the client are engaged in fraudulent activity and by following the requirements of local law,through their whis tleblower program,he has not violated Standard III(E)–Preservation of Confidentiality or Standard(V)–Duties to Employers.

B is incorrect because Morales has not violated Standard(V)–Duties to Employers.

C is incorrect because Morales believes that his supervisor and potentially the cli ent are engaged in fraudulent activity and by following the requirements of local law,through their whistleblower program,he has not violated Standard III(E)–Preservation of Confidentiality.