CFA考试试题汇编含答案完整版Word格式.docx
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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:
4.DougWatson,CFA,servesinasalespositionatSommersetBrokerage,aregisteredinvestmentadviser.Aspartofhisemployment,heisexpectedtoentertainclients.Frequentlyattheseclientoutings,Watsondrinksexcessively.Ononeoccasion,afterdroppingoffaclient,Watsonwascitedbylocalpoliceformisdemeanorpublicintoxication.AccordingtotheStandardonknowledgeofthelawandtheStandardonmisconduct,Watsonisinviolationof:
5.KevinRichardsisaperformanceanalystforReliableAdvisors,aretailinvestmentadvisoryandconsultingfirm.Richards,whoisaLevelICFAcandidate,washired-aspartofthefirm'
seffortstoattractCFAcandidatesintocriticalareasofthefirm,suchasperformancemeasurementandattribution.Richards'
supervisorinstructshimtoreferencethefirm'
scompliancewithGIPSinmarketingmaterialstoattractmoreclients.ForRichards'
referencetothefirm'
sGIPScompliancetobeaccurate,Reliableisleastlikelyrequiredto:
A.applyGIPScompliancefirmwideandnotonlytothespecificassetclassesmentionedinthemarketingmaterials.
B.claimcompliancewithGIPSonlyifithasacompliantperformancehistoryoffiveyearsormore.
C.includealldiscretionaryfee-payingaccountsincompositesbasedontheirinvestmentobjectivesand/orstrategies.
6.PeterTaylor,aCFAcharterholderandafoodindustryanalystforalargeinvestmentfirm,hasbeeninvitedbySweetPineappleCo.tovisitthefirm'
sprocessingplantsinHawaii.TheStandardconcerningindependenceandobjectivityrecommendsthatTaylor:
A.useandpayforcommercialtransportation,ifavailable.
B.obtainwrittenpermissionfromhisemployerbeforeheacceptsthisinvitation.
C.declinethisinvitationifheissuesrecommendationsonthefirm'
ssecurities.
7.RuthBrett,aLevelICFAcandidate,isaresearchanalystforalargeinvestmentfirm.Duetoademandingworkschedulewithlonghours,Brettwasunabletoattendanysortofexampreparationclass,andhasonlybeenabletostudysporadically.Feelingnervousandunpreparedthenightbeforetheexam,Brettwritesafewkeynotesonthebottomofhershoe.Attheexam,Brettseesthelargenumberofproctorspresentanddecidesnottoriskgettingcaughtanddoesnotlookathershoe.AccordingtotheCFAInstituteCodeofEthicsandStandardsofProfessionalConduct,Brettis:
A.notinviolationofanyStandardortheCodeofEthicsbecauseshedidnotusethenotes.
B.inviolationoftheCodeofEthicsforbri