2013 Level I Make fun of Exam: Evening Session
The afternoon program of the 2013 Level I actually Chartered Monetary Analyst (CFA®) Mock Examination has a hundred and twenty questions. To best reproduce the exam day experience, candidates are advised to set aside an average of 1 ) 5 minutes per question for the total of 180 minutes (3 hours) for this period of the examination.
Ethical and Professional Specifications
Economical Statement Research
Fixed Salary Investments
Alternative investments cnbc
Queries 1 through 18 correspond with Ethical and Professional Criteria
1 . Carlos Cruz, CFA, is one of two founders of an equity hedge fund. Cruceta manages the fund's possessions, and the different co-founder, Brian Burkeman, CFA, is responsible for finance sales and marketing. Cruz notices the most up-to-date sales material used by Burkeman indicates assets under supervision are listed at a greater value than the current market worth. Burkeman justifies the disparity by stating recent market declines be the cause of the difference. In order to comply with the CFA Start Standards of Professional Carry out, Cruz ought to least probably take which in turn of the next actions?
A. Correct the asset info and provide revisions to potential clients. B. Survey the disparity to CFA Institute's Specialist Conduct Program. C. Give a disclaimer within marketing material indicating prices are since a specific particular date.
2 . Linda Chin, CFA, is a member of a political group advocating less governmental rules in all aspects of life. She works in a country where local securities laws are minimal and insider trading is not prohibited. Chin's politics will be reflected in her purchase strategy, wherever she employs her country's mandatory legal and regulating requirements. Which of the subsequent actions by simply Chin is quite consistent with the CFA Institute Criteria of Professional Conduct? A. Follow the CFA Code and Standards.
B. Continue her current purchase strategy.
C. Disclose her political care to clients.
3. Wouter Duyck, CFA, is the single proprietor associated with an investment advisory firm providing several hundred middle-class retail clientele. Duyck promises to be unlike his competition because he performs research him self. He explains that to simplify the management of these accounts, he has established a recommended set of stocks, from where he chooses investments for all of his clients based on all their suitability. Duyck's recommended set of stocks is usually obtained from his primary broker, who has accomplished due diligence to each stock. Duyck's recommended list least probably violates which in turn of the following CFA Company Standards of Professional Conduct? A. Reasonable Dealing
C. Diligence and Reasonable Basis
4. Lisa Hajak, CFA, specialized in study on real estate property companies in Cornerstone Country Bank for 20 years. Hajak recently started out her personal investment research firm, Hajak Investment Admonitory. One of her former clientele at Foundation asks Hajak to revise a research survey she had written on a property company once she was at Cornerstone. Hajak updates the report, which usually she experienced copied to her personal computer without the bank's knowledge, and supercedes references towards the bank with her fresh firm, Hajak Investment Prediction. Hajak as well incorporates the conclusions of a real estate study conducted by the Realtors Association that came out in the Wall Street Journal. She cites the Record as her source in her report. She supplies the
revised statement free of charge and also a cover letter pertaining to the bank's client to become client of her organization. Concerning the reissued research record, Hajak least likely violated the CFA Institute Specifications of...