ethics question from practice exam

i have to do reader’s digest version on the question… Mr Zonding is doing background check on CFA candidate Ms. Cooken, a new MBA, who has applied for a stock-analysis job at his firm… zonding doesn’t like to hire anyone who doesn’t adhere to the Codes and Standards professional conduct requirements… in context of the Code and Standards, which of these background check items would most likely indicate that zonding shouldn’t have hired Cooken (he did hire her) A) during full-time unpaid internship at prior firm, she was reprimanded for working a 30-hour-a week job as a waitress. B) as intern at another firm, she was fired for revealing to the FBI that one of the principals was embezzling from the firm’s clients. C) she performed 40 hours of community service in relation to a conviction on a misdemeanor drug possession charge when she was 16 D) on her resume, she wrote, "recently passed level 2 of the CFA exam, a test that measures candidates’ knowledge of finance and investing… i actually don’t know the answer myself, but i find the wording a little tricky (not sure if it’s intentional or not) and i’ve tried to be true to the question, while saving myself some typing. also, i’m just wondering what people’s study plan on ethics are, someone at work i respect said save a major review of it until very late in process. thanks in advance!!

A

A

A seems a better choice

yeah, i think i missed the wording… A was the one i first thought, but then i got hung up on the poor wording from her description of herself… haven’t looked at ethics in a long time.

i did choose A but that was hard …

is her D writeup ok by CFA presentation standards? i realize the question doesn’t relate to that.

^ In D she is just stating the facts.

McLeod81 Wrote: ------------------------------------------------------- > ^ In D she is just stating the facts. i was wondering about the word “measures”. i think that might overstate the CFA, by their standards.

I’m not sure where they draw the line. Can you say something like “I passed all three CFA exams in 18 months, which demonstrates my intelligence and motivation”?

McLeod81 Wrote: ------------------------------------------------------- > I’m not sure where they draw the line. Can you > say something like “I passed all three CFA exams > in 18 months, which demonstrates my intelligence > and motivation”? no, you definitely can’t say that… not totally sure about where her comment is though. could be nothing (i.e. me going crazy from CFA studying). mcleod, i appreciate your help!!

D… for reasons listed above?

Somebody posted this exact question a couple days ago. Everybody thought it was her shady drug conviction history, BUT, according to the answer, CFAI and buddy are cool with that. I think (which is beyond comprehension) they had a problem with the hussy working the waitress job on top of her duty to employer saying the late nights, hours, etc. would impact on the quality of work she could do for the potential employer. I would think her propensity for the BC blue grass might be of concern? Old habits die hard, right? I mean, I still blow butter-knife sized rippers off hookers’ a$$es after exams. Guess that’s cool, hahahh!

that was too easy; A this looks very close to L1 question on December 2006 exam

This question is TOTAL BS. So let’s say this is some grad school student that’s working a summer internship…she can’t waitress to get by to pay ridiculous tuition and living costs?>

zimzim78 Wrote: ------------------------------------------------------- > This question is TOTAL BS. So let’s say this is > some grad school student that’s working a summer > internship…she can’t waitress to get by to pay > ridiculous tuition and living costs?> As long as her job does not interfere with her internship and responsibilities. At 30 hrs per week on top of her normal internship of 40hrs, her performance will be affected. If it was only weekends say 8 hrs on Saturday and Sunday then it would not be a violation.

I forgot…CFAI ethics exist in a perfect, vacuum world where we all have $90K lying around to pay for U of CHI FT and don’t have to work. Waitressing 8hrs/day on the weekend would leave me paying off tuition at about 50yrs after I’m 6ft under…hahahha!

zimzim78 Wrote: ------------------------------------------------------- > I forgot…CFAI ethics exist in a perfect, vacuum > world where we all have $90K lying around to pay > for U of CHI FT and don’t have to work. > Waitressing 8hrs/day on the weekend would leave me > paying off tuition at about 50yrs after I’m 6ft > under…hahahha! I don’t make the rules I just read them…hey in my opinion better working after internship than getting loaded with the lads after work…and coming to work hung over but then CFAI would say the latter is all good… So Zim either accept it or write an essay on the exam explaining why you will not withstand such non sense, or better yet write a letter to CFAI right now :wink:

What if her BS internship is interfering with her waitress job which has a “more strict” code of standards? She would be F#@$d

Hahaahha, awesome.