CFA考試一級(jí)章節(jié)練習(xí)題精選0331-21(附詳解)

1、CFA考試一級(jí)章節(jié)練習(xí)題精選 0331-21 （附詳解）1、 Brendan Witt, CFA, is a sell-side analyst within a research team covering companiesin the technology sector.The team reaches a consensus to recommend sellinga mining company after long time debating.Witt does not agree with theteam's investment conclusion and belie

2、ves the mining company is a potential targetof takeover.According to the Standards of Professional Conduct relating todiligence and reasonable basis, which of the following statements is most accurate?Witt must: 【單選題】A. decline to be identified with the report.B. dissociate from the report because i

3、t does not reflect his opinion.C. ensure the consensus opinion has a reasonable and adequate basis and is independentand objective to keep her name on the report.正確答案 :C答案解析 :個(gè)人觀點(diǎn)與集體觀點(diǎn)不同時(shí)，也可以在報(bào)告上署名，只要確信參與寫這個(gè)報(bào)告的其他人都做到了勤勉盡責(zé)和獨(dú)立客觀即可。1、 While waiting in the business class lounge before boarding an airpla

4、ne, Becca Msafari, CFA, an equity analyst, overhears a conversation by a group of senior managers, including members of the board, from a large publicly listed bank. The managers discuss staff changes necessary to accommodate their regional expansion plans. Msafari hears several staff names mentione

5、d. Under what circumstances could Msafari most likely use this information when making an investment recommendation to her clients? She can use the information： 【單選題】A. if she does not breach the confidentiality of the names of the staff.B. if the discussed changes are unlikely to affect investor pe

6、rception of the bank.C. under no circumstances.正確答案 :B答案解析：To comply with the Code and Standards, a member or candidate cannot use material nonpublic information when making investment recommendations. The information overheard would not be considered material only if any public announcement of the

7、staff removal would be unlikely to move the share price of the bank, nor would the regional expansion substantially impact the value of the bank.2014 CFA Level I "Guidance for Standards I-VII," CFA InstituteStandard II(A)Investments requires its employees to invest in the1、Alex Burl is an

8、investment advisor at Helpful Investments, a local investment advisoryfirm.Helpful samestocks which Helpful Investments recommends to its clients.Helpful Investmentsalso has established strict procedures determining when trades can be executed inits employees' own portfolios to avoid any conflic

9、t of interests with its clients.This procedure is most likely in place to help Burl avoid violations of the Standardsof Professional Conduct relating to： 【單選題】A. only material non-public information.B. only priority of transactions.C. both independence and material non-public information.正確答案 :B答案解析

10、 :個(gè)人交易應(yīng)該在為客戶交易和雇主交易之后，公司規(guī)定員工個(gè)人交易的時(shí)間是為了避免員工在為客戶交易前進(jìn)行交易，從而避免了違反優(yōu)先交易權(quán)操作方法，該題與重大的非公開信息無關(guān)。1、 Benefits of compliance with the CFA Institute Global Investment Performance Standards (GIPS?) least likely include:【單選題】A. strengthening of internal controls.B. participation in competitive bidding.C. elimination

11、 of in-depth due diligence for investors.正確答案 :C” CFA Institute2011 Modular Level I, Vol. 1, pp. 1答案解析 : “ Introduction to the Global Investment Performance Standards (GIPS?), aExplain why the GIPS standards were created, what parties the GIPS standards apply to, and who is served by the standards.C

12、 is correct because compliance with the GIPS standards does not eliminate the need for in-depth due diligence on the part of the investor.1、 Amanda Covington, CFA, works for McJan Investment Management. McJan employees must receive prior clearance of their personal investments inaccordance with McJa

13、n's compliance procedures. To obtain prior clearance, McJan employees must provide a written request identifying the security, the quantity of the security to be purchased, and the name of the broker through which the transaction will be made. Precleared transactions are approved only for that t

14、rading day. As indicated below, Covington received prior clearance.SecurityQuantityBrokerPrior ClearanceA100Easy T radeYesB150Easy T radeYesTwo days after she received p rior clearance, the p rice of Stock B decreased, so Covington decided to pu rchase 250 shares of Stock B only. In her decision topu rchase 250 shares of Stock B only, did Covington violate any CFA Institute Standards of Professional Conduct?【單選題】A. Yes, relating to diligence and reasonable basisB. NoC. Yes, relating to her empio yer's comp licance p rocedures正確答案:C 答案解析：Prior-clearance processes guard against potentia