CFA考試一級章節(jié)練習(xí)題精選0331-40(附詳解)

1、CFA考試一級章節(jié)練習(xí)題精選 0331-40附詳解）1、Etienne Gagne, CFA, is an independent research analyst covering some unknownsmall companies and its shares are traded over -the -counter.Gagne is hired towrite research report about these small companies who pay him for her service.Gagne issues research reports on these s

2、mall companies to retail and institutionalclients who also pay him for his research report.Gagne doesn' t disclose thesesmall companies' payment to her research clients.Has Gagne most likely violatedthe Standards of Professional Conduct? 【單選題】A. No.B. Yes, relating to referral fees.C. Yes, r

3、elating to conflicts of interests.正確答案 :C答案解析 :Gagne 撰寫針對小公司的獨立研究報告并賣給其零售和機(jī)構(gòu)客戶，但在他的報告中沒有披露這些小公司會給他報酬的事項，這個事項屬于利 益沖突的事項，如果沒有告知客戶的話，就違反了利益沖突的披露的有關(guān)規(guī)定。2、 Lynn Moody is an investment officer at the Lester Trust Company (LTC).If acurrent or former client of LTC has not permitted the disclosure ofconfident

4、ialinformation and disclosure of clients' confidential information does not conflictwith local law, which of the following statements is most accurate?According tothe Professional Conduct Standards, a member will breach his duties bydisclosing confidential client information that relates to:單選題】

5、A. an individual client who ended the client relationship with LTC ten years ago.B. illegal activities on the part of an individual who is a current client of LTC.C. information requested by the CFA Institute Professional Conduct Programduring the course of an investigation into that member's co

6、nduct by designedofficer.正確答案 :A4 個例外情況：法律上要求公開，客戶允許公開，包含非法行為及接答案解析 :在任何情況下都要保守過去、當(dāng)前、潛在客戶的秘密，除非屬于以下的受 CFA 協(xié)會調(diào)查。即使當(dāng)?shù)胤蓻]有限制披露客戶的保密信息，會員或考生也應(yīng)該遵守專業(yè)行為標(biāo)準(zhǔn)更加嚴(yán)格地保守客戶的秘密。3、Wesley Whitcomb, CFA, participated as a CFA examination grader in 2012.Prior to participating in grading CFA examinations, Whitcomb was re

7、quired tosign a CFA Institute Grader Agreement drafted by CFA Institute stating that gradersare not to reveal or discuss the exam materials with anyone except CFAInstitutestaff and other graders.Several weeks after the conclusion of the CFA examgrading, Whitcomb returns to his office and is having d

8、inner with several colleaguessome of who are the level III candidates in the CFA Program.One of thecandidates mentions that he is very disappointed about his examination this timeand afraid of failing for the exam because he unintentionally made a calculationmistake when answering the first essay qu

9、estion of investment policy statement.Whitcomb responds by telling the candidate that he was a grader for the 2012 examinationand that it would be unfortunate if the candidate did give wrong answerto that question because most candidates scored very well on that question.DidWhitcomb violate the Stan

10、dards of Professional Conduct when he told the candidatethat: 【單選題】6he was a grader for lhe2012 examinationhmost Candida!es scored very wellon one part of the question?AB,GA.NoYesYesYesNoYeshe was a grader for the2012 examination*Amost candidates ?*cored very wellon one part of the questicm?A.C.B.No

11、YesYesYesNoYeshe was a grader for lhe 2012 examination* wmost candidates 囂cored very wellon one part of the questiun?A.RC.C.NoYesYesYesNoYes正確答案:A答案解析：作為CFA考卷的閱卷人，可以告知考生自己是閱卷人，但不能披露關(guān)于批改考卷中的任何情況。4、Who is most likely respo nsible for claiming and maintaining comp liance with the CFA Institute Global I

12、nvestment P erformance Standards (Gl PS?)?【單選題】A. Independent verification firmsB. The firm claiming complianceC. The performance measurement department正確答案 :B” CFA Institute2012 Modu-la3r- cLEexvpellaIi,nVol. 1, p. 17答案解析 : “ Introduction to the Global Investment Performance Standards (GIPS?), the

13、requirements for verification.B is correct because firms that claim compliance with the GIPS standards are responsible for their claim of compliance and for maintaining that compliance.5、 David Bravoria, CFA, is an independent financial advisor for a high net worth client with whom he had not had co

14、ntact in over two years. During a recentinvests in several high -riskbrief telephone conversation, the client states he wants to increase his risk exposure. Bravoria subsequently recommends and funds on behalf of the client. Bravoria continues, as he has done in the past, to send to his client month

15、ly, detailed itemized investment statements. DidBravoria most likely violate any CFA Standards? 【單選題】A. No.B. Yes, with regard to investment statements.C. Yes, with regard to purchasing venture capital funds.正確答案 :C答案解析 : “ Guidance for Standards-VIII, ” CFA Institute 2011 Modular Level I, Vol. 1, p

16、p. 65 -67Study Session 1 2 -bC is correct because Bravoria violated Standard IIIDistinguish between conduct that conforms to the Code and Standards and conduct that violates the Code and Standards. Duties to Clients in not exercising Loyalty, Pr udence and Care. Bravoria had not up dated his clientin over two years thus should not have made further investments, particularly in high risk investments until such time as