Mutini next meets with Rayne supervisors to specifically discuss their roles in upholding the Code and Standards. She informs them that they are responsible for the prevention of any violations of laws, rules, regulations, or the Code and Standards by the staff directly under their supervision. To make their job easier, instead of focusing equally on all of the requirements, Mutini suggests that the supervisors should concentrate on the following: • communicating compliance policies and procedures to all covered staff, • undertaking periodic reviews to ensure procedures are followed, and • enforcing investment-related policies. In her meeting with Rayne supervisors, Mutini is least likely correct with regard to: A) enforcing investment-related policies. B) communicating with staff. C) undertaking periodic reviews. /
I would say Mutini needs to communicate compliance policies and procedures with all staff, not just all ‘covered’ staff - because CFA members are required to make sure that their subordinates comply with policy, law, and regulation regardless of whether they are CFA members or not.
The answer, apparently, is “A member or candidate with supervisory responsibility should enforce investment-related and non-investment-related policies equally (i.e., not concentrate on investment-related over non-investment-related policies).”
I think these type of questions truly undermine the validity of the program. It is ambiguous and no matter how much time I spent pouring over the code and standards to look for the right answer, I would have had equally valid arguments that it could be A or B.
Does anyone else feel like the “hard” questions aren’t really hard so much as they are phrased such that they just have multiple answers? Do we just accept that it is a toss up? In other words, it should be possible to get a perfect score on a multiple choice exam but, even if this thing was open book and we worked in groups and had unlimited time - I don’t think a perfect score is possible because of questions like these.