历年注册金融分析试CFA考题第一套试题.docx

1、历年注册金融分析试CFA考题第一套试题 历年注册金融分析试CFA考题第一套试题一、Ethical and Professional Standards 1.: Code of Ethics A.: State the four components of the Code of Ethics. Members of AIMR shall: 1. Act with integrity, competence, dignity, and in an ethical manner when dealing with the public, clients, prospects, employers,

2、 employees, and fellow members. 2. Practice and encourage others to practice in a professional and ethical manner that will reflect credit on members and their profession. 3. Strive to maintain and improve their competence and the competence of others in the profession. 4. Use reasonable care and ex

3、ercise independent professional judgment. to launch Standards of Practice 2-I.: Standards of Professional Conduct: I. Fundamental Responsibilities A.: Know the laws and rules. Standard: Maintain knowledge of and comply with all applicable laws, rules, and regulations (including AIMRs Code of Ethics

4、and Standards of Professional Conduct) of any government, government agency, regulatory organization, licensing agency, or professional association governing the members professional activities. Compliance: Members can acquire and maintain knowledge about applicable laws, rules, and regulations by:

5、Maintaining current files on applicable statutes, rules, and regulations. Keeping informed. Reviewing written compliance procedures on a regular basis. B.: Dont break or help others break the law. Standard: Not knowingly participate or assist in any violation of such laws, rules, or regulations. Com

6、pliance: When members suspect a client or a colleague of planning or engaging in ongoing illegal activities, members should take the following actions: Consult counsel to determine if the conduct is, in fact, illegal. Disassociate from any illegal or unethical activity. When members have reasonable

7、grounds to believe that a clients or employees activities are illegal or unethical, the members should dissociate from these activities and urge their firm to attemptt to persuade the perpetrator to cease such activity. 2-II.: Standards of Professional Conduct: II. Relationships with and Responsibil

8、ities to the Profession A.: Use of Professional Designation II(A.1) AIMR members may reference their membership only in a dignified and judicious manner. The use of the reference may be accompanied by an accurate explanation of the requirements that have been met to obtain membership in these organi

9、zations. II(A.2) Those who have earned the right to use the Chartered Financial Analyst designation may use the marks “Chartered Financial Analyst” or “CFA” and are encouraged to do so, but only in a proper, dignified, and judicious manner. The use of the designation may be accompanied by an accurat

10、e explanation of the requirements that have been met to obtain the right to use the designation. II(A.3) Candidates in the CFA Program, as defined in the AIMR Bylaws, may reference their participation in the CFA Program, but the reference must clearly state that an individual is a candidate in the C

11、FA Program and cannot imply that the candidate has achieved any type of partial designation. B.: Professional Misconduct II(B.1) Members shall not engage in any professional conduct involving dishonesty, fraud, deceit, or misrepresentation or commit any act that reflects adversely on their honesty,

12、trustworthiness, or professional competence. II(B.2) Members and candidates shall not engage in any conduct or commit any act that compromises the integrity of the CFA designation or the integrity or validity of the examinations leading to the award of the right to use the CFA designation. Complianc

13、e: 1. Make clear that dishonest personal behavior reflects poorly on the profession. 2. Adopt a code of ethics to which every employee must subscribe. 3. Conduct background checks on potential employees to ensure that they are of good character and eligible to work in the investment industry. C.: Pr

14、ohibition against Plagiarism Standard: Members shall not copy or use, in substantially the same form as the original, material prepared by another without acknowledging and identifying the name of the author, publisher, or source of such material. Members may use, without acknowledgment, factual inf

15、ormation published by recognized financial and statistical reporting services or similar sources. ? ? Compliance: 1. Maintain copies of materials that were relied on in preparing the research report. 2. Attribute quotations (and projections, tables, statistics, models, and methodologies) used other

16、than recognized financial and statistical reporting services. 3. Attribute paraphrases and summaries of material prepared by others. 2-III.: Standards of Professional Conduct: III. Relationships and Responsibilities to the Employer A.: Inform your Employer of the Code and Standards III(A.1) Members

17、shall inform their employer in writing, through their direct supervisor, that they are obligated to comply with the Code and Standards and are subject to disciplinary sanctions for violations thereof. III(A.2) Members shall deliver a copy of the Code and Standards to their employer if the employer d

18、oes not have a copy. Compliance: Members should notify their supervisor in writing of the Code and Standards and the members responsibility to follow them. The member should also suggest that the employers adopt the Code and Standards and disseminate it throughout the firm. If the employer has publi

19、cly acknowledged, in writing, that they have adopted AIMRs Code and Standards as part of the firms policies then the member need not give the formal written notification as required by III(A). B.: Duty to Employer Standard: Members shall not undertake any independent practice that could result in co

20、mpensation or other benefit in competition with their employer unless they obtain written consent from both their employer and the persons or entities for whom they undertake independent practice. ? ? Compliance: 1. Members who plan to engage in independent practice for compensation should provide w

21、ritten statements to their employer describing the types of services they will perform, the expected duration of the services, and the compensation they will receive. 2. Members should also disclose to their prospective clients the identity of their employer, the fact that they are performing indepe

22、ndently of the employer, and what their employer would charge for similar services. 3. Members seeking new employment should not contact existing clients or potential clients prior to leaving their employer or take records/files to their new employer without the written permission of the previous em

23、ployer. C.: Disclose Conflicts between you and your Employer III(C.1): Members shall disclose to their employer all matters, including beneficial ownership of securities or other investments, that reasonably could be expected to interfere with their duty to their employer or ability to make unbiased

24、 and objective recommendations. III(C.2): Members shall comply with any prohibitions on activities imposed by their employer if a conflict of interest exists. Compliance: Members should report to their employers any beneficial interest and any special relationships, like corporate directorships, tha

25、t may reasonably be considered a conflict of interest with their responsibilities. Members should also discuss the situation with their firms compliance officer before taking any action that could lead to a conflict of interest. D.: Disclose Additional Compensation from Outside the Firm to your Empl

26、oyer Standard: Members shall disclose to their employer in writing all monetary compensation or other benefits that they receive for their services that are in addition to compensation or benefits conferred by a members employer. Compliance: Members should make an immediate written report to their e

27、mployer specifying any compensation or benefits they receive or propose to receive for services in addition to what their employeris to give them. This written report should state the terms of any oral or written agreement, the amount of compensation, and the duration of the agreement. E.: Responsib

28、ilities of Supervisors Standard: Members with supervisory responsibilities, authority, or the ability to influence the conduct of others shall exercise reasonable supervision over those subject to their supervision or authority to prevent any violation of applicable statutes, regulation, or provisio

29、ns of the Code and Standards. In so doing, members are entitled to rely on reasonable procedures designed to detect and prevent such violations. ? ? Compliance: The supervisor and the compliance officer should: 1. Disseminate the compliance procedures. 2. Update the procedures as necessary. 3. Educa

30、te the staff and issue periodic reminders. 4. Incorporate a professional conduct evaluation into the employees performance review. 5. Review employee actions to ensure compliance and identify violators, initiating procedures once a violation has occurred. A supervisor should respond promptly to the

31、violation by conducting a thorough investigation, and placing limitations on the wrongdoer until the investigation is complete. 2-IV.: Standards of Professional Conduct: IV. Relationships with and Responsibilities to Clients and Prospects A.: The Investment Process IV(A.1) Reasonable Basis and Repre

32、sentations. Members shall: a. Exercise diligence and thoroughness in making investment recommendations or in taking investment actions. b. Have a reasonable and adequate basis, supported by appropriate research and investigation, for such recommendations or actions. c. Make reasonable and diligent e

33、fforts to avoid any material misrepresentation in any research report or investment recommendation. d. Maintain appropriate records to support the reasonableness of such recommendations or actions. Compliance: 1. Analyze the investments basic characteristics (records must show the characteristicsof the investment and the basis for the recommendation). 2. Anal