【不做題會死】CFA一級道德精選考點練習題1-6
 
　　Standard I: Professionalism (B): Independence and Objectivity
 
　　Joshua Rosenberg, CFA, is an equity analyst who covers Northwest Implements, a farm implement manufacturer. Northwest's main factory is located in a sparsely inhabited region six hours by automobile from the nearest airport. Northwest has its own corporate jet and a landing strip is located near the facility. When Rosenberg contacts Northwest’s management to gather information for a report he is preparing on the company, Northwest’s chief financial officer, Thomas Blake, invites Rosenberg to visit Northwest’s headquarters and meet with management. Blake offers to send Northwest’s corporate jet to pick up Rosenberg from an airport near Rosenberg’s home and to return him home the same evening. Rosenberg estimates that it would require three days for him to make the visit using commercial travel. If Rosenberg accepts Blake’s offer and makes the trip to Northwest’s headquarters on the corporate jet, Rosenberg:
 
　　A) has violated the Code and Standards unless he discloses the trip and the payment of his travel expenses in his report on Northwest.
 
　　B) has not violated the Code and Standards.
 
　　C) has violated the Code and Standards unless he reimburses Northwest for the cost of the trip.
 
　　Answer: B
　　Standard I(B) requires members to maintain independence and objectivity. A visit by an analyst to an out-of-the-way site may be paid for by a client company host as long as the analyst can maintain objectivity. Members should encourage clients to limit the use of corporate aircraft, but exceptions can be made if transportation would not otherwise be available or would be inefficient.
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　　解析：
　　這題涉及到的是別人提供差旅服務如何保持獨立性的問題。
 
　　一般情況認為，不論披露與否，接受公司安排的私人飛機或者豪華酒店住宿等會影響分析師的獨立客觀性。因此，分析員應盡量自己承擔差旅費用。
 
　　不過，如果在缺乏公共交通工具的條件下，去到偏遠地區(qū)，是可以接受對方做出合適的安排。本題公共交通（commercial travel）會花很多時間，非常不方便, 接受Blake提供的安排是合適的。