- CFA Exams
- CFA Level I Exam
- Study Session 1. Ethical and Professional Standards
- Reading 3. Guidance for Standards I-VII
- Subject 3. Standard I (C) Misrepresentation
CFA Practice Question
There are 361 practice questions for this study session.
CFA Practice Question
You have completed an analyst's report on a specific company. You have used significant information from an older report written by an individual no longer at your firm and an industry forecast by an economist at another firm. You also include a 52-week high/low price quote from the Wall Street Journal. You must acknowledge ______.
A. all 3 sources of information
B. information from the Wall Street Journal and the economist only
C. information from the old report and the economist only
User Contributed Comments 16
|Mdavid2||Need to acknowledge the old report? It is a property of the company although the author is no longer an employee of the company.|
|frcfa||It´s his own´s company old report, no matter who the author was.|
|jasween||Why not the wall street journal too?|
|eddeb||The Wall Street information can be use without acknowledgement because it is Facutal information of a recognized source.|
|hizmo||I think key word is "significant information" and may relate to plagiarism.|
|mmurjana||why the need to aknowledge information that is property of the company?|
|motoloco||From the book: " Clients should know who has the experis behind the report or if the work is being done by the analyst, OTHER MEMBER OF THE FIRM, or an outside oarty"
I Think C is correct, despite the fact the individual was not longer in the firm
|tiptop||I agree with motoloco!|
|cong||No need to acknowledge public stat and fin agencies|
|PRICHARD||What about stocks pricing extract from Bloomberg?|
|ColonelCFA||I would say only the economist. Page 40 last paragraph in level 1 Ethical and Professional Standards.
"The firm may issue future reports without providing attribution to the prior analysts."
|siggarusfigs||Yea I am kind of confused about whether to attribute reports generated by firm employees too|
|gill15||Odd one. I think it just has to do with Significant info as well...|
|isabellaa||according to the cfai book it say "the firm may issue future reports withotu providing attribution to the prior analysts. A member of candidate cannot however reissue a previously released report solely under his or her name"|
|MIKAELAH||You can use models and analysis by an individual at the same firm without disclosure but you cannot use a research report written by them and release it as your own work. In this case, you are using SIGNIFICANT information from the old research report, so if you do not acknowledge the old report, that would be plagarism (misrepresentation).|
|kingirm||I would argue that analyst should disclose the WSJ also. How would I know this info is from Wsj and reliable as a client otherwise ??|