CFA一级Mock试题VIP免费

1/81.AccordingtotheCFAInstituteCodeofEthicsandStandardsofProfessionalConduct,tradingonmaterialnonpublicinformationisleastlikelytobepreventedbyestablishing:A.fire-walls.B.watchlists.C.selectivedisclosure.Answer:CCFAInstituteStandards2010ModularLevelI,Vol.1,pp.36-42StudySession1-2-cRecommendpracticesandproceduresdesignedtopreventviolationsoftheCodeofEthicsandStandardsofProfessionalConductCiscorrectasselectivedisclosureoccurswhencompaniesdiscriminateinmakingmaterialnonpublicinformationpublic.Corporationsthatdiscloseinformationonalimitedbasiscreatethepotentialforinsider-tradingviolations.StandardII(A).2.WilliamWong,CFA,isanequityanalystwithHayswickSecurities.Basedonhisfundamentalanalysis,Wongconcludesthestockofacompanyhefollows,NolvecInc.,issubstantiallyundervaluedandwillexperiencealargepriceincrease.HedelaysrevisinghisrecommendationonthestockfromDholdDtoDbuyDtoallowhisbrothertobuysharesatalowerprice.WongisleastlikelytohaveviolatedtheCFAInstituteStandardsofProfessionalConductrelatedto:A.dutytoclients.B.reasonablebasis.C.priorityoftransactions.Answer:B2/8DDuidanceforStandardsI-VIID,CFAInstitute2010ModularLevelI,Vol.1,pp.48-50,80-81,94-95StudySession1-2-aDemonstrateathoroughknowledgeoftheCodeofEthicsandStandardsofProfessionalConductbyapplyingtheCodeandStandardstosituationsinvolvingissuesofprofessionalintegrity.BiscorrectbecausethereisnothingtosuggestthatWongdoesnothaveareasonablebasisforhisconclusionrelatedtoNolvec.StandardV(A).3.Duringanonsitecompanyvisit,MarshaWard,CFA,accidentallyoverheardtheChiefExecutiveOfficer(CED)ofStargazer,Inc.discussingthecompanyDstenderoffertopurchaseDynamicaEnterprises,aretailerofStargazerproducts.AccordingtotheCFAInstituteStandardsofProfessionalConduct,Wardmostlikelycannotusetheinformationbecause:A.itrelatestoatenderoffer.B.itwasoverheardandmightbeconsideredunreliable.C.shedoesnothaveareasonableandadequatebasisfortakinginvestmentaction.Answer:AGuidanceforStandardsI-VIID,CFAInstitute2009ModularLevelI,Vol.1,pp.36-42StudySession1-2-aDemonstrateathoroughknowledgeoftheCodeofEthicsandStandardsofProfessionalConductbyapplyingtheCodeandStandardstosituationsinvolvingissuesofprofessionalintegrity.AiscorrectbecausetradingontheinformationisrestrictedasitrelatestoatenderofferDitisclearlymaterial,nonpublicinformation.StandardII(A).D.IanOUSullivan,CFA,istheownerandsoleemployeeoftwocompanies,apublicrelationsfirmandafinancia3/8lresearchfirm.ThepublicrelationsfirmenteredintoacontractwithMalloryEnterprisestoprovidepublicrelationsservices,withODSullivanreceivingD0,000sharesofMallorystockinpaymentforhisservices.Overthenext10days,thepublicrelationsfirmissuedseveralpressreleasesthatdiscussedMalloryDsexcellentgrowthprospects.ODSullivan,throughhisfinancialresearchfirm,alsopublishedaresearchreportrecommendingMallorystockasaDbuy.DAccordingtotheCFAInstituteStandardsofProfessionalConduct,ODSullivanismostlikelyrequiredtodisclosehisownershipofMallorystockinthe:A.pressreleasesonly.B.researchreportonly.C.boththepressreleaseandtheresearchreport.Answer:CGuidanceforStandardsI-VIID,CFAInstitute2009ModularLevelI,Vol.1,pp.21-26,89-91StudySession1D2DaDemonstrateathoroughknowledgeoftheCodeofEthicsandStandardsofProfessionalConductbyapplyingtheCodeandStandardstosituationsinvolvingissuesofprofessionalintegrity.Ciscorrectbecausemembersshoulddiscloseallmattersthatreasonablycouldbeexpectedtoim...