CFA考试试题汇编含答案完整版.docx

CFA考试试题汇编含答案完整版.docx

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CFA考试试题汇编含答案完整版

CFA考试试题汇编（含答案）[完整版]

　　1.WhichofthefollowingstatementsabouttheCFAInstitute'sProfessionalConductProgram（PCP）isleastaccurate?

　　A.Possiblesanctionsincludecondemnationbyamember'speersorsuspensionofacandidate'sparticipationintheCFAProgram.

　　B.IftheDesignatedOfficerdeterminesthatasanctionagainstamemberiswarranted,themembermusteitheracceptthesanctionorlosetherighttousetheCFAdesignation.

　　C.MemberswhocooperatewithaPCPinquirybyprovidingconfidentialclientinformationtoPCPstaffarenotinviolationofStandardIII（E）PreservationofConfidentiality.

　　【答案】B

　　2.RobertMiguel,CFA,isaportfoliomanagerforalargeinvestmentadvisoryfirm.Inappreciationofhisimpressiveportfolioreturnslastquarter,oneofhisclients,KevinGoodman,hasinvitedMiguelandhiswifetobehisguestsathisluxurysuiteforamajorleaguebaseballplayoffgame.Miguel,abaseballfan,acceptstheinvitationandattendsthegame.Thenextdayatwork,Migueldoesn'tmentiontohissupervisorthatheattendedthegameasaguestoftheclient.AccordingtotheStandardconcerningindependenceandobjectivityandtheStandardonknowledgeofthelaw,Miguel'sactionsareinviolationof."

　　A.bothoftheseStandards.

　　B.neitheroftheseStandards.

　　C.onlyoneoftheseStandards.

　　【答案】A

　　3.AnnSmith,CFA,callsBillJones,CFA,andtellshimthatherresearchshowsthatBiokemCompanyisunderpricedandthatearningspersharewillexceed$3.00thisyear.JoneshadneverheardofBiokembeforehercallbutknowsthatSmithiswidelyconsideredtobethebestanalystinhersector.Smith'sresearchhasbeenreleasedpublicly,andSmithtellsJoneshe's"welcometoit."Aftertheirconversation,Jonesarrangesaconferencecallwithhisfirm'sportfoliomanagersandannouncesthatBiokemisunderpricedandwilllikelyearnover$3.00persharethisyear.Duringthecallwiththeportfoliomanagers,JonesdoesnotreferencehisconversationwithSmith.AccordingtotheStandardsthatconcernmisrepresentationanddiligenceandreasonablebasis,Jonesviolated:

　　A.bothoftheseStandards.

　　B.neitheroftheseStandards.

　　C.onlyoneoftheseStandards.

　　【答案】A

　　4.DougWatson,CFA,servesinasalespositionatSommersetBrokerage,aregisteredinvestmentadviser.Aspartofhisemployment,heisexpectedtoentertainclients.Frequentlyattheseclientoutings,Watsondrinksexcessively.Ononeoccasion,afterdroppingoffaclient,Watsonwascitedbylocalpoliceformisdemeanorpublicintoxication.AccordingtotheStandardonknowledgeofthelawandtheStandardonmisconduct,Watsonisinviolationof:

　　A.bothoftheseStandards.

　　B.neitheroftheseStandards.

　　C.onlyoneoftheseStandards.

　　【答案】B

　　5.KevinRichardsisaperformanceanalystforReliableAdvisors,aretailinvestmentadvisoryandconsultingfirm.Richards,whoisaLevelICFAcandidate,washired-aspartofthefirm'seffortstoattractCFAcandidatesintocriticalareasofthefirm,suchasperformancemeasurementandattribution.Richards'supervisorinstructshimtoreferencethefirm'scompliancewithGIPSinmarketingmaterialstoattractmoreclients.ForRichards'referencetothefirm'sGIPScompliancetobeaccurate,Reliableisleastlikelyrequiredto:

　　A.applyGIPScompliancefirmwideandnotonlytothespecificassetclassesmentionedinthemarketingmaterials.

　　B.claimcompliancewithGIPSonlyifithasacompliantperformancehistoryoffiveyearsormore.

　　C.includealldiscretionaryfee-payingaccountsincompositesbasedontheirinvestmentobjectivesand/orstrategies.

　　【答案】B

　　6.PeterTaylor,aCFAcharterholderandafoodindustryanalystforalargeinvestmentfirm,hasbeeninvitedbySweetPineappleCo.tovisitthefirm'sprocessingplantsinHawaii.TheStandardconcerningindependenceandobjectivityrecommendsthatTaylor:

　　A.useandpayforcommercialtransportation,ifavailable.

　　B.obtainwrittenpermissionfromhisemployerbeforeheacceptsthisinvitation.

　　C.declinethisinvitationifheissuesrecommendationsonthefirm'ssecurities.

　　【答案】A

　　7.RuthBrett,aLevelICFAcandidate,isaresearchanalystforalargeinvestmentfirm.Duetoademandingworkschedulewithlonghours,Brettwasunabletoattendanysortofexampreparationclass,andhasonlybeenabletostudysporadically.Feelingnervousandunpreparedthenightbeforetheexam,Brettwritesafewkeynotesonthebottomofhershoe.Attheexam,Brettseesthelargenumberofproctorspresentanddecidesnottoriskgettingcaughtanddoesnotlookathershoe.AccordingtotheCFAInstituteCodeofEthicsandStandardsofProfessionalConduct,Brettis:

　　A.notinviolationofanyStandardortheCodeofEthicsbecauseshedidnotusethenotes.

　　B.inviolationoftheCodeofEthicsforbri