CFA考试Level Ⅰ模拟试题详解6Word文档下载推荐.docx

1、1An analyst writes a report and includes the forecasts of an econometric model developed by the firms research department. The analyst identifies the source of the forecast and includes all the relevant statistics concerning the model and his opinion of the models accuracy. With respect to Standard

2、V（A）, Diligence and Reasonable Basis, the analyst has:Aviolated the Standard by including quantitative details in a report.Bviolated the Standard by giving his opinion of the accuracy of a model developed by his research department.Ccomplied with the Standard.【答案】C【解析】Including quantitative details

3、in a report is not a violation of the Standard. The analyst has more of an obligation to give an opinion on the accuracy of the model than withhold such an opinion. Although the analyst should use reasonable care to verify information included in a report, retesting models developed by the research

4、department of a firm is not explicitly required.2Charlie, a CFA candidate, got a copy of a computerized stock selection model designed by a former MBA classmate who is a Wall Street analyst. After spending some time reviewing the program and making a few minor adjustments Charlie showed her new mode

5、l to her supervisor. Her supervisor said she did a great job and told Charlie to incorporate net new model in her next industry review, which she did. Charlie has:Aviolated Standard （E）Preservation of Confidentiality.Bviolated Standard （C）Misrepresentation.Cviolated Standard （A）Material Nonpublic In

6、formation.【答案】B【解析】Standard （C）Misrepresentation. By using material prepared by another without acknowledging and identifying the developer of the model, Charlie had committed plagiarism.3A CFA Institute member puts the following statement on her resume:“I passed each level of the CFA exam on the fi

7、rst try.” Is this a violation of Standard （B）?ANo, because it is a statement of fact.BYes, because she incorrectly refers to the CFA exam.CYes, because saying she passed exams on the first try is not appropriate.【答案】A【解析】The statement is not a violation because it is a fact. However, the member must

8、 not go on to claim superior performance.4A CFO who is a CFA Institute member is careful to make his press releases-some of them containing material and previously undisclosed informationclear and understandable to his readers. While writing a new release, he often has his current intern proofread r

9、ough drafts. He also sends electronic copies to his brother, an English teacher, to get suggestions concerning style and grammar. With respect to Standard （A）, Material Nonpublic Information, the CFO is:Anot in violation of the Standard.Bviolating the standard by either showing the pre-release versi

10、on to his intern or sending it to his brother.Conly in violation by showing the pre-release version to the intern but not to a relative such as his brother.【解析】Standard （A）, Material Nonpublic Information, says that a member must be careful about handling material non-public information. As a member

11、 of CFA Institute, the CFO must limit the people who see important information before it is released. It would not be appropriate to involve an intern or a relative in the process.5Insider trading can be defined as information that is:Anonmaterial and nonpublic.Bmaterial and public.Cmaterial and non

12、public.【解析】Information is material if it would be important to the investor in their investment making decision. Information is nonpublic if it is not yet available to the public.6Michel Marchant, CFA, recently became an independent money manager. After six months, he has only ten clients, who are f

13、amily and friends. To supplement his income, Marchant accepted part-time employment as an advisor at Middleton Financial Advisors. According to CFA Institute Standards of Professional Conduct, which of the following statements about Marchants duty to his new employer is TRUE?AMarchant must inform Mi

14、ddleton about his existing clients but need not inform his existing clients about his new part-time employment with Middleton.BMarchant must inform Middleton to keep his existing clients and must inform his existing clients of his new part-time employment at Middleton.CMarchant need not inform Middl

15、eton about his existing clients but must inform his existing clients about his new part-time employment at Middleton.【解析】Standard （A） and （B） requires that Marchant inform both Middleton and his existing clients.7A broker was sanctioned for unsuitable recommendations and excessive trading involving

16、three accounts under his care. These clients were unsophisticated, inexperienced individual investors with limited means. According to CFA Institute Standard （C）, Suitability, which of the following is least likelyto be considered a relevant factor in determining the appropriateness and suitability of investment recommenda