CFA Level 1
佝偻
MOCK EXAM 1
Afternoon Session
Time Limit: 3 Hours
1. George, CFA, a citizen of Germany, is doing business in a neighboring country. According to AIMR Standards of Professional Conduct, which statement applies to George 's conduct when he is conducting business in the other country?
A. He is not bound by any of the regulations becau France and the other country have no jurisdiction in each other's countries.
B. He should adhere to whichever of France's, the other country's or AIMR's rules that impo the highest degree of responsibility.
C. He should only adhere to the curities laws of France even though they do not cover so
me of the provisions found in the laws of the other country that relate to his work.
D. He should adhere to the curities laws of the other country even though they are not as stringent as tho of France.
2. Charlie, a CFA candidate, got a copy of a computerized stock lection 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 model 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海棠花作文 has:
A. violated Standard IV(B.5) Prervation of Confidentiality.
B. violated Standard II(C) Prohibition against Plagiarism.
C. v生活需要一点甜iolated Standard V(A) Prohibition against u of Material Nonpublic Information.
D. none of the above.
3. Sheria, CFA, just joined an investment firm and reports directly to Raymond, who heads the department dealing with advisory rvice to high net worth individuals. To fulfill her duty of informing her employer about following AIMR Code of Ethics and Standards of Professional Conduct, Sheria must inform:彘怎么读
A. the firm's chief executive officer either orally or in writing.
B. her direct supervisor orally about AIMR's requirements.
C. the managing director of the firm in writing about AIMR's requirements.
D. her direct supervisor in writing about AIMR's requirements.
4. Edison, CFA, supervis a group of rearch analysts, none of whom are CFA charterholders or CFA candidates. He has attempted on veral occasions to get his firm to adopt a compliance system to insure that applicable laws and regulations are followed. The firm's principals, however, have never adopted his recommendations. According to AIMR Standards of Professional Conduct, Edison
at this point should:
A. take no action, becau the employees are not CFA charterholders or CFA candidates.
B. 脸上囊肿take no action, becau he has fulfilled his obligations under AIMR standards.
C. redesign the compliance system, becau no alternative exists that will keep him in compliance with AIMR standards.
D. decline in writing to accept supervisory responsibility until his firm adopts reasonable compliance procedures.
5. 秋季食谱>青岛大包Roy, CFA, manages veral pension accounts and directs most of his trades through the Wales Investment Limited. Roy does this becau he believes that he gets good executions and Wales Investment Limited provides him with excellent rearch reports ud in the management of the accounts. Regional, a small discount brokerage hou, has just approached Roy that it will execute his trades at half the cost of Wales. Regional does not have a rearch department. Accordin
g to AIMR Standards of Professional Conduct, if Wales does NOT switch his business to Regional, has he violated the loyalty clau in his fiduciary duties?
A. No, becau he already had an established relationship with Wales before Regional's offer.
B. No, if he can determine, in good faith, that the higher commissions are commensurate with the value of the rearch rvices he receives and disclos this practice.
C. Yes, becau of the prudent expert clau.
D. 唐诗梅花Yes, becau Standard IV(B.1), Fiduciary Duties, says he must minimize expens.
6. Samuel, CFA, cloly follows the computer industry. In the cour of his rearch, he discovers that the Stone Limited, a small unknown networking company, has just signed veral major contracts. After considerable rearch, Samuel wrote a strong buy recommendation for Stone. Management is likely to take a week to approve his report. In the meantime, which standard covers Samuel
's behavior regarding the dismination of his rearch?
