NO.PZ201604030300004605
问题如下：
5. When listening to the Omega squawk box, does Garcia violate any CFA Institute Standards?
选项：
A. No.
B. Yes, the standard regarding professionalism.
C. Yes, the standard regarding material nonpublic information.
解释：
B is correct.
Garcia violated the Standard of Professionalism by engaging in eavesdropping on confidential information including changes in analyst recommendations and pending block trades. According to Standard I(D) members must not engage in professional conduct involving dishonesty, deceit, or fraud or commit any act that reflects adversely on their professional reputation, integrity, or competence. Garcia engages in deceitful conduct in obtaining information from the squawk box. His actions reflect adversely on his professional reputation and integrity and thus violate Standard I(D).
Garcia is not in violation of Standard II(A) —Material Nonpublic Information, although he listens to the material nonpublic information on pending block trades. Possession of such material nonpublic information is not a violation of the Standard, which prohibits acting on the information.
明明G已经act upon material non public information了呀