更多"Kate Wilson, CFA, is a portfolio ma"的相关试题:
[单项选择]Timothy Holt, CFA, is a portfolio manager for the Toro Aggressive Growth Fund, a large mutual fund with an aggressive-growth mandate in Fechtman Investments. While having lunch with his colleagues, Holt overheards the manager of Fechtman Investments' trading desk discussing a large sell order for shares of Samuel Corporation that will take the rest of this week to process. Samuel Corporation stocks take a dominant position in the Toro Aggressive Growth Fund. To protect his clients' interests, Holt immediately heads to his office and sells all the Samuel Corporation stocks held iii his fund. Has Holt most likely violated the Standards of Professional Conduct
A. No.
B. Yes, relating only to material nonpublic information.
C. Yes, relating both to material nonpublic information and priority of transactions.
[单项选择]Jessica Walters, CFA, is a portfolio manager and manages portfolios of a number of high-net-worth retail and institutional clients. Walters receives an allocation of oversubscribed initial public offering of a highly-speculative and risky firm manufacturing pharmaceutical. Walters allocates the stock on a pro rata basis to only those clients who are suitable for the stock according to their investment policy statements. Walters most likely violated the Standards of Professional Conduct（）
A. No.
B. Yes, relating to fair dealing.
C. Yes, relating to suitability.
[单项选择]James Martin, CFA, is a portfolio manager in charge of several mutual funds with Global First Investments. Martin receives an oversubscribed initial public offering (IPO) and allocates it proportionately to his largest clients. Martin discloses this arrangement to all of his clients and obtains their written consent. Has Martin most likely violated the Standards of Professional Conduct（）
A. No.
B. Yes, relating to fair dealing.
C. Yes, relating to diligence and reasonable basis.
[单项选择]Geoff Whitman, CFA, is a portfolio manager for Adam Trust Company, managers many accounts of high-net-worth individual clients. Carol Cochran, One of Whitman's clients, proposes to Whitman that "any year that my portfolio achieves at least 20 percent return before tax, you and your family can fly to Monaco at my expense and use my condominium during the second week of January. " Whitman tells his supervisor about the term of the agreement and asks Cochran to send a similar email to Whitman's supervisor. The supervisor replies with an email to Whitman and Cochran approving the agreement. Has Whitman most likely violated the Standards（）
A. No.
B. Yes, relating to independence and objectivity.
C. Yes, relating to additional compensation arrangement.
[单项选择]Jerry Srruth, CFA, works as a portfolio manager for a large investment management firm and manages investment portfolios for high-net-worth individual clients. Smith relies on high-quality investment research that is consistently sound from one of his favorite brokerage firms, Stafford Securities. In return Smith pays Stafford a higher than average commission. Additionally, Smith uses Cannan Securities, another brokerage firm for trade execution only for a particular client at that client's direction. Cannan Securities charges the highest commission of all of the brokerages Smith currently uses. Has Smith most likely violated the Standards of Professional Conduct（）
A. No.
B. Yes, by using Stafford Securities with higher than average commission.
C. Yes, by using Cannan Securities with the highest commission.
[单项选择]Tom Wayne, CFA, is the portfolio manager of the Franklin City Employees Pension Plan in Thompson Investments. He recently completed thorough research about a chemical company and decided that the company's stock is significantly overvalued. Wayne places a large sell order for the company's thinly traded stock. Thompson Investments' trading desk takes a whole week to process the order, pulling the stock price to a 26-week low and the trading volume to four times the historic average. Has Wayne most likely violated the Standards of Professional Conduct
A. No.
B. Yes, because he distorted the price-setting mechanism of financial instruments.
C. Yes, because heartificially affected the trading volume significantly.
[单项选择]David Beckham, CFA, is a portfolio manager at a hedge fund company. David has an arrangement with a close friend who is an investment consultant, whereby he refers clients who need investment advice to the friend, who in turn refers clients to Beckham. Beckham believes there is no referral fees involved, and he does not disclose this arrangement to his existing or prospective clients. Has Beckham most likely violated the Standards（）
A. No.
B. Yes, only by failing to disclose the arrangement to his prospective clients.
C. Yes, both by failing to disclose the arrangement to his existing clients and to his prospective clients.
[单项选择]Ralph Salley, CFA, is a portfolio manager at a mutual fund company. According to the Standards of Professional Conduct relating to diligence and reasonable basis, which of the following statements is most accurate（）
A. CFA members may not rely solely on third-party research to make investment decisions.
B. CFA members may rely on others in their firm to determine whether thirdparty research has a sound basis and continuous reliability.
C. CFA members may not rely on others in their firm to determine whether third-party research has a sound basis and continuously reliability.
[单项选择]In a perfectly efficient market, portfolio managers should do all of the following EXCEPT:（）
A. rebalance their portfolio when changes are necessary.
B. diversify to eliminate systematic risk.
C. quantify their risk and return needs within the bounds of the client’s liquidity, income, time horizon, legal, and regulatory constraints.
[单项选择]Scott LaRue is a portfolio manager for Washington Advisors. Washington has developed a proprietary model that has been thoroughly researched and is known throughout the industry as the Washington model. The model is purely quantitative and screens stocks into buy, hold, and sell categories. The basic philosophy of the model is thoroughly explained to clients. The director of research frequently alters the model based on rigorous research-an aspect that is well explained to clients, although the specific alterations are not continually disclosed. Portfolio managers then make specific sector and security holding decisions, purchasing only securities that are indicated as "buys" by the model. LaRue has conducted some research on his own and feels the model would be improved by adding some factors. Based on his research, he applied his own version of the model, which is occasionally in conflict with the Washington model. LaRue discloses his model to his own clients but not to his superviso
A. violating the Standards by not considering the appropriateness of the recommendations to clients.
B. violating the Standards by not being objective.
C. violating the Standards by not having a reasonable and adequate basis for his investment recommendation.
[单项选择]If a portfolio manager wants to sell a stock at a price above current market price, the best type of order to use is a:（）
A. limit order.
B. market order.
C. stop sell order.
[单项选择]Karen Wilson, CFA, supervises eight junior analysts at Spartan Financial Services. Karen suspects that one of the analysts is violating Spartan’s personal investing policy. According to the Standards of Practice Handbook, Karen’s most appropriate initial action is to.（）
A. Initiate an investigation.
B. Notify her supervisor of the analyst’s suspected misconduct.
C. Require the analyst to liquidate and close all personal accounts.
[单项选择]Agriculture is the country's chief source of wealth, rice ______ by far the biggest cereal crop.
A. is
B. been
C. be
D. being
[单项选择]According to the passage, the "old rich" get wealthier ______.
A. through their prestige
B. through sweating themselves
C. through collecting rare books, paintings and sculptures
D. by investing their inherited wealth
[单项选择]
Wesley Whitcomb, CFA, participated as a CFA examination grader in 2012. Prior to participating in grading CFA examinations, Whitcomb was required to sign a CFA Institute Grader Agreement drafted by CFA Institute stating that graders are not to reveal or discuss the exam materials with anyone except CFA Institute staff and other graders. Several weeks after the conclusion of the CFA exam grading, Whitcomb returns to his office and is having dinner with several colleagues some of who are the Level Ⅲ candidates in the CFA Program. One of the candidates mentions that he is very disappointed about his examination this time and afraid of failing for the exam because he unintentionally made a calculation mistake when answering the first essay question of investment policy statement. Whitcomb responds by telling the candidate that he was a grader for the 2012 examination and that it would be unfortunate if the candidate did give wrong answer to that question because most candidates scored
A. A
B. B
C. C
[单项选择]Jean: Hello, Wilson, this is Jean. Listen, Wilson...
Ted: ______
A. Just a minute, let me get a pencil.
B. I beg your pardon. Who is it, please
C. Speaking.
D. Good morning. Greenwood Car Rental.
[单项选择]Neil Barton, CFA, and Nancy Roberts, CFA, began a joint research report on Stamp Corporation. Nancy spent several days visiting Stamp’s corporate headquarters and meeting with all company officers. Prior to the completion of the report, Nancy was reassigned to another project. Nell utilized his and Nancy’s research to write the report. According to the CFA Institute Standards of practice Handbook, did Nell violate any CFA Institute Standards of Professional Conduct（）
A. No.
B. Yes, with respect to misrepresentation.
C. Yes, with respect to independence and objectivity.
