MADELINE SMITH, CFA, WAS RECENTLY PROMOTED TO SENIOR PORTFOLIO MAN...

11. - MOCK AND SAMPLE EXAMS CFA LEVEL I MOCK EXAM AFTERNOON VERSIONB QUESTIONS 2014 11. - MOCK AND SAMPLE EXAMS CFA LEVEL I MOCK EXAM AFTERNOON VERSIONB QUESTIONS 2014
MOCK AND SAMPLE EXAMS CFA LEVEL I MOCK EXAM AFTERNOON VERSIONB QUESTIONS 2014

11. Madeline Smith, CFA, was recently promoted to senior portfolio manager. In her new position, Smith

is required to supervise three portfolio managers. Smith asks for a copy of her firm's written

supervisory policies and procedures but is advised that no such policies are required by regulatory

standards in the country where Smith works. According to the Standards of PracticeHandbook,

Smith's most appropriate course of action would be to:

A. decline to accept supervisory responsibility until her firm adopts procedures to allow her to

adequately exercise such responsibility.

B. require her firm to adopt the CFA Institute Code of Ethics and Standards of Professional Conduct.

C. require the employees she supervises to adopt the CFA Institute Code of Ethics and Standards of

Professional Conduct.

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