NO.PZ2016032802000037
问题如下：
Kland, a country on an island, which allows the use of nonpublic information. Smith has a close friend, Johnson, who is CFA charterholder. Smith shared nonpublic information about several firms' earnings and M&A outside his industry with Johnson. Regarding this information, which of the following statements is most correct about Johnson's action?
选项：
A.Johnson can trade on the information because the information has no relationship with Smith's industry.
B.Johnson cannot trade on the information according to the Code and Standards of CFA Insititute.
C.Johnson can trade on the nonpublic information which is allowed by the Kland's laws.
解释：
B is correct.
According to the Standard II(A) Material Non-public Information, although Kland allows the use of nonpublic information, as a CFA Charterholder, Johnson's behavior is governed by the Code and Standards of CFA Institute. This standard forbids the use of material nonpublic information, so Johnson cannot trade on the information shared by Smith.
并没有发现信息是否是material的证据，单纯探讨一下哈。
