CFA一级历年模拟考试(2015-2019)：2019_Mock_Exam_A_－_Morning_Session.docx

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1、2019LevelIMockExamAMThemorningsessionofthe2019Level1CharteredFinancialAnalystMockExaminationhas120questions.Tobestsimulatetheexamdayexperience,candidatesareadvisedtoallocateanaverageofoneandhalfminutesperquestionfortotalof180minutes(3hours)forthissessionoftheexam.QUPgtiOngTopkMinUtZ1-20EthicalandPro

2、fessionalStandards3021-32Quant1833-44Econ】845-62FinancialReportingandAnalysis2763-74CorporateFinance1875-81PortfolioManagement10.582-94Equity19.595-107FixedIncome25108-114DrriYaHVrS10.5Iu20AlternativeIiiwstmenU9Total：ISOByaccessingthismockexam,youagreetothefollowingtermsofuse：Thismockexambprovidedto

3、UiieiillyIt跃SuKedCFACandidatetuyviewuidptitildieedfupelwlrxanpteparii-tknonly.Thefoilowingactivitiesarestrictlyprohibitedandmayresultindisciplinaryand/orlegalacton:accessingorpermittingaccessbyanvoneotherthancurrently-registeredCFAcandidates；copying,postingtnanyUrPhdteemailing,distributingandnrrt*pr

4、intingthpmockPKamforanyPUrpnC2018CFAInstitute.Allrightsreserved.2019LEVELIMOCKEXAMAM1WhomostlikelydetermineswhetheraviolationoftheCFAInstituteCoded11dStaddidortestingPUliCiCIZSoccurredandWhdlanctiunShUIlIdbeimposed?The:AProfessionalConductStaffandtheDisciplinaryReviewCommitteeBProfessionalConductSta

5、ffCDisciplinaryReviewCommittee2HollyBaker,CFAisexplainingtheCFAInstituteCodeofEthicstoaclient.WhichofthefollowingstatementscouldBakermaketomostlikelyreflectdisciplinarysanctionstheCFAInstitutemayimpose?Sanctionsinclude:Afinesforviolations.BrevocationofmembershipCbanishmentfromtheindustry3WilliamWong

6、,CFA,isanequityanalystwithHayswickSecurities.BasedonhisfundamentalanalysisWongconcludesthatthestockofacompanyhefol-IcwsrNolveclnc.fissubstantiallyundervaluedandwillexperiencealargepriceincrease.Hcdelaysrevisinghisrecommendationonthestockfrom“holdto*buytoallowhisbrothertobuysharesatthecurrentprice.Wo

7、ngisleastlikelytohaveviolatedtheCFAInstituteStandardsofProfessionalConductrelatedto:Adutytoclients.Breasonablebasis.Cpriorityoftransactions.4HuiChentCFA,developsmarketingmaterialsforaninvestmentfundhefoundedthreeyearsago.Thematcriahshowthe3year,2year,and1yearreturnsforthefund.Heincludesafootnotethat

8、statesinsmallprint,Pastperformancedoesnotguaranteefuturereturns.*HedoesnotclaimcompliancewithGIpSinthedisclosuresorfootnotes.HealsoincludesaseparatesheetShoWingthemostrecentsemi-annualandquarterlyreturns,WhiChnotesthattheyhavebeenneitherauditednorverified.HasChenRoSZlikelyviolatedanyCFAInstituteStan

9、dardsofProfessionalConduct?ANdBYes,becauseheincludedun-auditedandunverifiedresults.CYes,becausehedidnotadheretotheGlobalInvestmentPerformancestandards.5CharlieMancini,CFA,istheManagingDirectorforBusinessDevelopmentatSVFinancial(SVF),alargeUS-basedmutualfundorganization.Mancinihasbeenunderpressurerec

10、entlytoincreaserevenues.InordertosecurebusinessfromalargehedgefundmanagerbasedinAsia,ManCinirecentlyapprovedflexibletermsforthefundsclientagreement.Toallowfortimezonedifferences,theagreementpermitsthehedgefundtotradeinallofSVFsmutualfundssixhoursafterthecloseofUSmarkets,whichisprohibitedbyUSregulato

11、rs.DidManciniviolateanyCFAInstituteStandardsofProfessionalConduct?ANo.BYes,withregardtoairDealing.CYesywithregardtoFairDeaIingandMaterialNonpublicInformation.6RicaidoTorres,CFA,isawell-respectedtelecommunicationsanalystforPegasusAdvisers.Heisknownforhisthoroughanalysis,includinginterviewswithsupplie

12、rs,customers,andcompetitors.Torreshasastrongfollowing,andhisresearchreportsrancftnmateriallyaffectthemarket.ASasulf,PfgaSUSlimitsthedistributionofhisreportstoPegasusclients.AfterlosingmarketsharetoPegasusforovertwoyears,MarcoRodrigotaCFAcandidate,reportsTorrestothelocalsecuritiesregulatoronsuspicion

13、ofusinginsiderinformationtnmakesharerrcmfnrndatins.WhatCFAIn&titutrStandardofPrnfrssianalConducthasRodrigomostIikdyviolated?AMisconductr.L.201呼CFAFRMKSJl中，4SAJhMn1985BMaterialNonPUHiCInformation同蚌j喇凿ji仁核】220.欢速喻(MarketManipulation7AlbertNyakcndalCFA,wasdrivingtoaclientsofficewherehewasexpectedtotlus

14、ranulli-11ilUun*dllardealwhenhewasPUhdUVrlby4tra(11cpoliceunalthoughhedidnotbelievehehadviolatedanytrafficlaws.WhenNyakendarealizedthepolicemanplannedtowronglytickethimforspeeding,heofferedtobuyhim*knchsothathecouldquicklygrttohisclientsoffice.ThelunchwouldcutignificatlymoreIhallUlrticket.Tlc,allrrn

15、alivrWaAIogoIu【hepoliceMatinnandfileacomplaintofbringwmnglyaccusedthatwnldalsoinvolvegoingtocourtthenextdaytopresenthiscase.DidNyakendamostlikelyviolatetheCFACodeofEthicsIYes.BNo,becausehewaswronglyaccused.(No,becausethecostoflunchismorethantheticket.8FraiKescaNdendalCA,AndGraceRutabingwaworkintheHmCdcpart11wforNewAgeManagerswithRutabingwareportingtoNdenda.NdendalearnsthatRUtabingWareceivedaNoticeofEnquiryfromtheProfessionalConductProgramatCFAInstituteregardingapotentialcheatingviolationwhenhesatfortheCAexaminJuneAsRiItabingWSssupervisor,NdendaisafrtdthebehaviorofRutabingwawillbe