CFA考试Level Ⅰ历年真题详解Level Ⅰ Mock Exam MorningSessionWord格式.docx
- 文档编号:21034349
- 上传时间:2023-01-27
- 格式:DOCX
- 页数:68
- 大小:813.78KB
CFA考试Level Ⅰ历年真题详解Level Ⅰ Mock Exam MorningSessionWord格式.docx
《CFA考试Level Ⅰ历年真题详解Level Ⅰ Mock Exam MorningSessionWord格式.docx》由会员分享,可在线阅读,更多相关《CFA考试Level Ⅰ历年真题详解Level Ⅰ Mock Exam MorningSessionWord格式.docx(68页珍藏版)》请在冰豆网上搜索。
A.No.
B.Yes,relatedtoMisconduct.
C.Yes,relatedtoMisrepresentation
【答案】A
【解析】
"
GuidanceforStandardsI-VIICFAInstitute"
2011ModularLevelI,Vol.1,pp.38-40,46-47
StudySession1-2-b
DistinguishbetweenconductthatconformstotheCodeandStandardsandconductthatviolatestheCodeandStandards.
AiscorrectasapersonalbankruptcydoesnotnecessarilyconstituteaviolationofStandardI(D).IfthecircumstancesofthebankruptcyinvolvedfraudulentordeceitfulbusinessconductthenfailingtodiscloseitmayconstituteaviolationoftheStandards.
2.BryanBarrett,CFAhasaninvestmentadvisoryserviceprovidingadviceongoldandothercommoditiestoseverallargeretailbanks.Barrettadvertiseshisservicesinwidelyreadpublicationstobroadenhisbusinesstoincluderetailclients.BecausetheclientbasefortheinstitutionsthatBarrettservesislarge,heiscomfortablestatingintheadsthatthousandsofhisclientshavebenefitedfromhisadvice.DoesBarrett'
sadvertisementmostlikelyviolateanyCFAInstituteStandardsofProfessionalConduct?
B.Yes,relatedtoMisrepresentation
C.Yes,relatedtoCommunicationwithClients
【答案】B
2011ModularLevelI,Vol.1,pp.38-40
BiscorrectbecauseBarrett'
sclientbaseismadeupofasmallnumberoflargeinstitutionssostatingintheadvertisementthathisclientbaseisalargernumberisamisrepresentationandaviolationofStandardI(C).Inaddition,sincetheadvertisementfocusesonlyonthebenefitsanddoesnotmentionthepotentialrisksoftheseinvestmentsitisalsopotentiallymisleadingtoclients.
3.Whileatabarinthefinancialdistrictafterwork,EllenMiffitt,CFAoverhearsseveralemployeesofacompetitordiscusshowtheywillmanipulatedownthepriceofathinlytradedmicrocapstock'
spriceoverthenextfewdays.Miffitt'
sclientshavelargepositionsofthisstocksowhenshearrivesatworkthenextdaysheimmediatelysellsalloftheseholdings.Becauseshehasdeterminedthatthemicrocapstockwassuitableforallofheraccountsatitspreviouslyhigherprice,Miffittbuysbackherclient'
soriginalexposureattheendoftheweekatthenew,lowerprice.WhichCFAInstituteStandardsofProfessionalConductdidMiffittleastlikelyviolate?
A.MarketManipulation
B.PreservationofConfidentiality
C.MaterialNonPublicInformation
2011ModularLevelI,Vol.1,pp.49-52,59-60,88
BiscorrectasMiffitthasnotviolatedtheconfidentialityStandardwhichinvolvesinformationaboutformer,current,andprospectiveclients.
4.DianaFairbanks,CFAismarriedtoanauditorwhoisemployedatalargeaccountingfirm.Whenherhusbandmentionsacomputerfirmheauditswillreceiveaqualifiedopinionshethinksnothingofit.Laterthatweekwhenshereviewsanewclientaccountshenoticestherearesubstantialholdingsofthiscomputerfirm.WhenshedoesathoroughInternetsearchfornewsonthecompany,shedoesnotfindanythingaboutitsmostrecentauditoranyotheradverseinformation.WhichofthefollowingactionsconcerningthecomputerstockshouldFairbanksmostlikelytaketoavoidviolatingtheCFAInstituteStandardsofProfessionalConduct?
A.Takenoinvestmentaction.
B.Completeathoroughanddiligentanalysisofthecompanyandthensellthestock.
C.Sellthestockimmediatelyasshehasareasonablebasisfortakingthisinvestmentaction.
2011ModularLevelI,Vol.1,pp.49-52
StudySession1-2-c
RecommendpracticesandproceduresdesignedtopreventviolationsoftheCodeofEthicsandStandardsofProfessionalConduct.
Aiscorrectastheinformationconcerningthequalifiedopinionisnon-publicandifitismaterialshewouldbeinviolationofStandardII(A)ifshetookinvestmentactionbasedontheinformation.Sheshouldalsomakereasonableeffortstoachievepublicdisseminationoftheinformation.
5.SherryBuckner,CFAmanagesequityaccountsforgovernmententitieswhoseportfoliosareconservativeandriskaverse.Sincetheobjectiveofherclientsistomaximizereturnswiththelowestpossiblerisk,Bucknerconsidersaddingtotheirholdingsanew,thinlytraded,leveragedderivativeproductwhichshebelieveshasthepotentialforhighreturns.Tomakeherinvestmentdecision,Bucknerreliesuponcomprehensiveresearchfromaninvestmentbankthathasasolidreputationfortopqualityresearch.Afterherreviewofthatresearch,Bucknerpositionsheraccountssothateachhasa10%allocationtothederivativeproduct.DidBucknermostlikelyviolateanyCFAInstituteStandardsofProfessionalConductbypurchasingthederivativeforherclients?
B.Yes,relatedtoSuitability.
C.Yes,relatedtoLoyalty,PrudenceandCare.
2011ModularLevelI,Vol.1,pp.78-81
BiscorrectasBucknerisinviolationofStandardIII(C)sinceshedidnotconsiderissuessuchasthelimitedliquidityoranypotentialleverageofthisnewproductwhensheinvestedasubstantialpercentageofherclient'
sportfoliosintheseinstruments.
6.TeresaStaal,CFAisaninvestmentofficerinabanktrustdepartment.Shemanagesmoneyforcelebritiesandpublicfigures,includinganinfluentiallocalpolitician.Shereceivesarequestfromthepolitician’spoliticalpartyheadquarterstodisclosehisstockholdings.Therequestindicateslocallawrequiresthedisclosure.WhatstepsshouldStaalmostlikelytaketoensureshedoesnotviolateanyCFAInstituteStandardsofProfessionalConduct?
A.Providetheinformationandinformherclient.
B.Sendtherequesteddocumentsandinformhersupervisor.
C.Checkwithherfirm'
scompliancedepartmenttodetermineherlegalresponsibilities.
【答案】C
2011ModularLevelI,Vol.1,pp.88-89
Ciscorrect.InordertoavoidviolatingStandardIII(E)Staalshoulddetermineifapplicablesecuritiesregulationsrequiredisclosingtherecordsbeforesheprovidestheconfidentialinformationconcerningherclient'
sinvestments.
7.SergioMorales,CFAbelieveshehasfoundevidencehissupervisorisengagedinfraudulentactivityconcerningaclient'
saccount.WhenMoralesconfrontshissupervisor,heistoldtheclientisfullyawareoftheissue.Laterthatday,Moralescontactstheclientandupondisclosinghisevidence,istoldheshouldmindhisownbusiness.Concernedhisjobisatrisk,Moralesprovideshisevidence,alongwithcopiesoftheclient'
smostrecentaccountstatements,toagovernmentwhistleblowerprogram.MoralesisleastlikelytohaveviolatedwhichofthefollowingCFAInstituteStandardsofProfessionalConduct?
A.DutiestoClients
B.DutiestoEmployers
C.CommunicationwithClients
2011ModularLevelI,Vol.1,pp.63-64,90-93,116-118
CiscorrectbecausethisStandardhasnotbeenviolated.Eventhoughhetalkedtotheclient,thecommunicationdidnotrelatetotheinvestmentprocess.Hehasviolatedhisdutiestoclientsbydisclosingconfidentialinformationtothegovernmentwhistleblowerprogram.Hehasalsoviolatedadutytohisemployerascontradictingemployerinstructionsarenotpermittedunlessthememberisactingtoprotecttheintegrityofcapitalmarketsandtheinterestsofclients.
8.LengBo,CFAisabondportfoliomanagerforindividualinvestors.Lastyear,aclientwhoseportfolioislimitedtoinvestment-gradebondsapprovedBo'
spurchaseofabelowinvestmentgradebond.Becauseyieldsinthehighgradefixedincomemarketsdeclined,Bosubsequentlydecidestoenhancethisclient'
sportfoliobyinvestinginseveraladditionalbondswithratingsoneortwonotchesbelowinvestmentgrade.TheinvestmentstrategyimplementedbyBomostlikelyviolatedwhichofthefollowingCFAInstituteStandardsofProfessionalConduct?
A.Suitability
B.CommunicationswithClients
C.IndependenceandObjectivity
2011ModularLevelI,Vol.1,pp.78-80
Aiscorrectbecausetheclientonlyapprovedthepurchaseofonebelowinvestmentgradebondwhiletheportfoliomanagerhaspurchasedseveraladditionalbondsbelowinvestmentgradewitho
- 配套讲稿:
如PPT文件的首页显示word图标,表示该PPT已包含配套word讲稿。双击word图标可打开word文档。
- 特殊限制:
部分文档作品中含有的国旗、国徽等图片,仅作为作品整体效果示例展示,禁止商用。设计者仅对作品中独创性部分享有著作权。
- 关 键 词:
- CFA考试Level 历年真题详解 Level Mock Exam MorningSession CFA 考试 历年 详解
链接地址:https://www.bdocx.com/doc/21034349.html