Under the Employee Retirement Income Security Act （ERISA), a person is a fiduciary if he or she:
A. has discretionary authority in the administration of the pension plan; rende rs investment advice for a fee with respect to a pension plan’s assets; exercises any discretionary authority with the management of the pension plan or its assets.
B. has an executive position in the firm sponsoring the pension plan.
C. has an executive position in the firm sponsoring the pension plan; has discretionary authority in the administration of the pension plan.
D. exercises any discretionary authority with the management of the pension plan or its assets.
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All of the following are appropriate uses of the CFA designation EXCEPT:
A. Jeremy Salyers, CFA.
B. Joanne Silbourne is a CFA charterholder.
C. I, as a CFA charterholder, expect to outperform the market because CFA charterholders have on average outperformed the S&P in 95 percent of the last 50 years.
D. I have earned the CFA designation by passing three exams, having sufficient work experience and becoming a member of AIMR？.
Which of the following statements about the AIMR？Code and Standards is TRUE？ The Code and Standards:
A. require that members report legal violations to the appropriate governmental or regulatory organization.
B. do not require that members report legal violations to the appropriate governmental or regulatory organization.
C. expect members to resign from their jobs to disassociate themselves from clients engaging in illegal activities.
D. expect members to persuade the perpetrator to cease illegal activities.
According to AIMR’s Standards of Professional Conduct Standard I（B), Fundamental Responsibilities, members shall not knowingly participate or assist in legal and ethical violations. An analyst:
A. must report all legal violations to the proper regulatory commission and is held responsible for participating in illegal acts when the law is evident to anyone knowing the law.
B. is held responsible for violations by others when the analyst is unaware of the facts giving rise to the violation.
C. is held responsible for participating in illegal acts when the law is evident to anyone knowing the law and can participate in a violation by having knowledge of the violation and taking no action to stop it or disassociate from it.
D. is held responsible for participating in illegal acts when the law is evident to anyone knowing the law and is held responsible for violations by others when the analyst is unaware of the facts giving rise to the violation.
Yuan, CFA, is a fund manager. When Yuan is soliciting new clients, he claims that his investment return has exceeded 50% in the past three years. Based on that fact, he can guarantee such return to his new client in next year. Which of the following statements is the most accurate to comply with the CFA Institute Code of Ethics and Standards of Professional Conduct？
A. Yuan can guarantee that return to his client based on his excellent investment history.
B. Yuan does not need to mention his role in the history of investment action.
C. Yuan failed to distinguish the fact and opinion, he can’t use his historical investment return to imply the future performance.
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