2010CFALevel1MockExammorning.pdf
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1、By accessing this mock exam,you agree to the following terms of use:This mock exam is provided to currently-registered CFA candidates.Candidates may view and print the exam for personal exam preparation only.The following activities are strictly prohibited and may result in disciplinary and/or legal
2、 action:accessing or permitting access by anyone other than currently-registered CFA candidates;copying,posting to any website,emailing,distributing and/or reprinting the mock exam for any purpose.2010 Level I Mock Exam:Morning Session The morning session of the 2010 Level I Chartered Financial Anal
3、yst Mock Examination has 120 questions.To best simulate the exam day experience,candidates are advised to allocate an average of 1.5 minutes per question for a total of 180 minutes(3 hours)for this session of the exam.Questions Topic Minutes 1-18 Ethical and Professional Standards 27 19-32 Quantitat
4、ive Methods 21 33-44 Economics 18 45-68 Financial Statement Analysis 36 69-78 Corporate Finance 15 79-90 Equity Investments 18 91-96 Derivative Investments 9 97-108 Fixed Income Investments 18 109-114 Alternative Investments 9 115-120 Portfolio Management 9 Total:180 【梦轩考资】QQ106454842 专业提供CFA FRM全程高
5、清视频+讲义By accessing this mock exam,you agree to the following terms of use:This mock exam is provided to currently-registered CFA candidates.Candidates may view and print the exam for personal exam preparation only.The following activities are strictly prohibited and may result in disciplinary and/or
6、 legal action:accessing or permitting access by anyone other than currently-registered CFA candidates;copying,posting to any website,emailing,distributing and/or reprinting the mock exam for any purpose.Questions 1 through 18 relate to Ethical and Professional Standards.1.According to the CFA Instit
7、ute Code of Ethics and Standards of Professional Conduct,trading on material nonpublic information is least likely to be prevented by establishing:A.fire-walls.B.watch lists.C.selective disclosure.2.William Wong,CFA,is an equity analyst with Hayswick Securities.Based on his fundamental analysis,Wong
8、 concludes the stock of a company he follows,Nolvec Inc.,is substantially undervalued and will experience a large price increase.He delays revising his recommendation on the stock from“hold”to“buy”to allow his brother to buy shares at a lower price.Wong is least likely to have violated the CFA Insti
9、tute Standards of Professional Conduct related to:A.duty to clients.B.reasonable basis.C.priority of transactions.3.During an onsite company visit,Marsha Ward,CFA,accidentally overheard the Chief Executive Officer(CEO)of Stargazer,Inc.discussing the companys tender offer to purchase Dynamica Enterpr
10、ises,a retailer of Stargazer products.According to the CFA Institute Standards of Professional Conduct,Ward most likely can not use the information because:A.it relates to a tender offer.B.it was overheard and might be considered unreliable.C.she does not have a reasonable and adequate basis for tak
11、ing investment action.【梦轩考资】QQ106454842 专业提供CFA FRM全程高清视频+讲义By accessing this mock exam,you agree to the following terms of use:This mock exam is provided to currently-registered CFA candidates.Candidates may view and print the exam for personal exam preparation only.The following activities are str
12、ictly prohibited and may result in disciplinary and/or legal action:accessing or permitting access by anyone other than currently-registered CFA candidates;copying,posting to any website,emailing,distributing and/or reprinting the mock exam for any purpose.4.Ian OSullivan,CFA,is the owner and sole e
13、mployee of two companies,a public relations firm and a financial research firm.The public relations firm entered into a contract with Mallory Enterprises to provide public relations services,with OSullivan receiving 40,000 shares of Mallory stock in payment for his services.Over the next 10 days,the
14、 public relations firm issued several press releases that discussed Mallorys excellent growth prospects.OSullivan,through his financial research firm,also published a research report recommending Mallory stock as a“buy.”According to the CFA Institute Standards of Professional Conduct,OSullivan is mo
15、st likely required to disclose his ownership of Mallory stock in the:A.press releases only.B.research report only.C.both the press release and the research report.5.Jefferson Piedmont,CFA,a portfolio manager for Park Investments,plans to manage the portfolios of several family members in exchange fo
16、r a percentage of each portfolios profits.As his family members have extensive portfolios requiring substantial attention,they have requested that Piedmont provide the services outside his employment with Park.Piedmont notifies his employer in writing of his prospective outside employment.Two weeks
17、later,Piedmont begins managing the family members portfolios.By managing these portfolios,did Piedmont violate any CFA Institute Standards of Professional Conduct?A.Conflicts of Interest B.Additional Compensation.C.Both Additional Compensation and Conflicts of Interest.6.The eight major provisions o
18、f the Global Investment Performance Standards(GIPS)include all of the following except:A.Input Data,Calculation Methodology,and Real Estate.B.Fundamentals of Compliance,Composite Construction,and Disclosures.C.Calculation Methodology,Composite Construction,and Alternative Assets.【梦轩考资】QQ106454842 专业
19、提供CFA FRM全程高清视频+讲义By accessing this mock exam,you agree to the following terms of use:This mock exam is provided to currently-registered CFA candidates.Candidates may view and print the exam for personal exam preparation only.The following activities are strictly prohibited and may result in discipl
20、inary and/or legal action:accessing or permitting access by anyone other than currently-registered CFA candidates;copying,posting to any website,emailing,distributing and/or reprinting the mock exam for any purpose.7.Hui Chen,CFA,develops marketing materials for an investment fund he founded three y
21、ears ago.The materials show the 3-,2-and 1-year returns for the fund.He includes a footnote that states in small print“Past performance does not guarantee future returns.”He also includes a separate sheet showing the most recent semi-annual and quarterly returns,which notes they have been neither au
22、dited nor verified.Has Chen most likely violated any CFA Institute Standards of Professional Conduct?A.No.B.Yes,because he included un-audited and unverified results.C.Yes,because he did not adhere to the global investment performance standards.8.Charlie Mancini,CFA,is the Managing Director for Busi
23、ness Development at SV Financial,(SVF),a large U.S.based mutual fund organization.Mancini has been under pressure recently to increase revenues.In order to secure business from a large hedge fund manager based in Asia,Mancini recently approved flexible terms for the funds client agreement.To allow f
24、or time zone differences,the agreement permits the hedge fund to trade in all of SVFs mutual funds six hours after the close of U.S.markets.Did Mancini violate any CFA Institute Standards of Professional Conduct?A.No.B.Yes,with regard to Fair Dealing.C.Yes,with regard to Fair Dealing and Material No
25、npublic Information.9.Ron Dunder,CFA,is the CIO for Bling Trust(BT),an investment advisor.Dunder recently assigned one of his portfolio managers,Doug Chetch,to manage several accounts that primarily invest in thinly traded micro-cap stocks.Dunder soon notices that Chetch places many stock trades for
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