- CFA Exams
- CFA Level I Exam
- Study Session 1. Ethical and Professional Standards
- Reading 3. Guidance for Standards I-VII
- Subject 4. Standard I (D) Misconduct
CFA Practice Question
There are 361 practice questions for this study session.
CFA Practice Question
You are a sell side research analyst. You produce a report recommending a stock based on work done by your colleague, Jane and by a model developed by Professor Smith at the University of Dementia, Virginia. You have tweaked the model and believe it would not have produced the results it did but for the tweaks. Your report goes out solely in your name, have you violated the standard against plagiarism?
A. Yes in respect of Professor Smith's work but no in respect of Jane's work.
B. Yes in respect of Professor Smith's work and yes in respect of Jane's work.
C. No because the model was tweaked.
Explanation: Work from internal sources need not be specifically reference. Models should be referenced, even if tweaked.
User Contributed Comments 6
|uviolet||why is b wrong. the report goes out in my name, not the firm's name. so there is no acknowledgement for jane here.|
|uviolet||if the report goes out in the firm's name, then there a is correct isnt it|
|jpducros||You have to specify the other authors of the report (unless the conclusion of the report do not represent their opinion), but it is not mentioned here.|
|aragarwal||its still not clear y jane shouldn't be acknowledged|
|powers023||On page 40 of Volume 1, the text states:
"Members and candidates should disclose whether the research being presented to clients comes from another source, from either within or outside the member's or candidate's firm."
The text then goes on to say:
"In some situations, however, members or candidates may use research of models developed by others within the same firm without committing a violation. The most common example relates to the situation in which one (or more) of the original analysts is no longer with the firm."
Like many of the ethics questions on these tests, this problem is in a grey area and I think the purpose is for us to understand the concept...
|bblach||University of Dementia - lol|