更多"A financial analyst and CFA Institu"的相关试题:
[单项选择]An analyst, who is a CFA Institute member, manages a high-grade bond mutual fund. This is his only professional responsibility. When the analyst comes across a speculative stock investment that he feels is a good investment for his personal portfolio, the analyst:（）
A. may invest in the stock because the analyst would not purchase the stock for the bond portfolio he manages.
B. may not invest in the stock because of his position as a portfolio manager.
C. is in violation of Standard Ⅳ (A), Loyalty to Employer, by spending time analyzing stocks when he should only analyze bonds.
[单项选择]A stockbroker who is a member of CFA Institute has a part - time housekeeper who also works for the CEO of Festival, Inc. One day the housekeeper mentions to the broker that she saw the CEO of Festival having a conversation at his home with John Tater, who is a nationally known corporate lawyer and consultant. The stockbroker is restricted from trading on this information:（）
A. if the housekeeper says the meeting concerned a tender offer and the broker knows that it is non - public information.
B. only if the broker knows that the meeting is non -public information.
C. if the broker is friends with the CEO of Festival.
[单项选择]A money manager and member of CFA Institute is meeting with a prospect. She gives the client a list of stocks and says, "These are the winners I picked this past year for my clients. Their double-digit returns indicate the type of returns I can earn for you." The list includes stocks the manager had picked for her clients, and each stock has listed with it an accurately measured return that exceeds 10 percent. Is this a violation of Standard Ⅲ (D), Performance Presentation（ ）
A. Yes, because the manager cannot reveal historical returns of recent stock picks.
B. No, because the manager had the historical information in writing.
C. Yes, unless the positions listed constitute a complete presentation (i. e. there were no stocks omitted that did not perform in the double digits).
[单项选择]A money manager, who is a member of CFA Institute, suggests during phone calls to his clients that, "I hope you will relay to your friends the great returns I earned for you this past year. " The manager had generated above average returns in the past year. Is this a violation of Standard Ⅲ (D) , Performance Presentation（）
A. Yes, because the Standard forbids members asking their clients to say anything about how well the member has done.
B. No, because the request was made orally and not in writing.
C. Yes, because the intended message fails the test of completeness as required under the standard.
[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]Samuel Goldstein, CFA, is an analyst for Tamarack Securities. Goldstein’s father, Reuben, has a client account at Tamarack. In ordering trades, Goldstein should place orders in:（）
A. his clients’ accounts first, his father’s account second, and his account last.
B. his clients’ and his father’s accounts in the first group and his personal accounts in the second group.
C. his clients’ accounts in the first group and his father’s and his own personal account in the second group.
[单项选择]Vivian, CFA, a research analyst assigned to Double Limited, has been recommending the stock’s purchase in her quarterly report. Vivian has recently married and just discovered her husband’s trust account owns several million dollars worth of Double Limited. The stock makes up more than 50 percent of the trust’s value but less than 5 percent of Double Limited’s outstanding shares. According to AIMR Standards of Professional Conduct, Vivian should: （ ）
A. Take no action because the stock is not in her name.
B. Disclose her interest in the stock at the time of her next report.
C. Cease including Double Limited stock in her report.
D. Take no action because the holding is less than 5 percent of the outstanding shares.
[单项选择]Isabella Travelli, CFA, is a research analyst for Worldwide Investments in Rome, Italy. Travelli was contacted by Seaside Partners of Milan, Italy, a regional brokerage firm, about doing research on companies in the beverage industry on a contract basis. Travelli may only do the contract work:（）
A. after receiving consent from both Worldwide and Seaside.
B. if Worldwide has no clients in the same geographic area as Seaside.
C. if Worldwide does not follow the beverage industry.
[单项选择]Michael Malone, CFA, is an investment analyst for a large brokerage firm in New York who covers the airlines industry. Alter hours in his personal time, Malone maintains an online blog on which he expresses his personal opinions about various investment opportunities, including, but not limited to, the airlines industry. On his blog, he posts a very negative investment opinion about WestAir stock. Malone knows that WestAir’s stock will be downgraded to a "sell" by his firm next week. Malone has:（）
A. violated Standard Ⅵ (B) Priority of Transactions by releasing material information to the public before releasing to the firm’s clients.
B. violated Standard Ⅱ (A) Material Nonpublic Information by releasing material that could negatively impact the price of the security.
C. violated Standard Ⅳ (A) Loyalty by divulging confidential information that is the intellectual property of his employer.
[单项选择]Arthur Harrow, CFA, is a pharmaceuticals analyst at Dominion Asset Management. His supervisor directs him to prepare separate research reports on Miracle Drug Company and Wonder Drug Company. Harrow’s former college roommate and close friend is the president of Miracle. Harrow owns 2000 shares of Wonder, which currently sells for $ 25 a share. Harrow’s supervisor is unaware of these facts. According to CFA Institute Standards of Professional Conduct, which of the following action, if any, is Harrow required to take if he writes the research reports（）
A. Harrow must disclose to Dominion both his relationship with the president of Miracle and his ownership of shares in Wonder.
B. Harrow must disclose to Dominion his relationship with the president of Miracle but not his ownership of shares in Wonder.
C. Harrow must disclose to Dominion his ownership of shares in Wonder but not his relationship with the president of Miracle.
[单项选择]Luis Rodriguez, CFA, is an analyst at XYZ Investments. He covers a company that is located in a region that is not easily accessible. The company invites analysts for their annual analyst meeting and pays for the transportation to the remote location. Rodriguez is:（）
A. not allowed to accept the payment for transportation because this is considered a "perk" and may influence his independent judgment.
B. allowed to accept the payment for transportation as long as it does not exceed $100.
C. allowed to accept the payment for transportation because the trip was all business and was out of the way.
[单项选择]Mason Snow, CFA, is an analyst with Polari Investments. Snow’s manager has instructed him to put only securities that are undervalued on the buy list. Today, Snow is to make a recommendation on the following two stocks: Bahre (with an expected return of 10 percent and a beta of 1.4) and Cubb (with an expected return of 15 percent and a beta of 2.0). The risk-free rate is at 7 percent and the market premium is 4 percent. Snow places:（）
A. neither security on the list.
B. only Bahre on the list.
C. only Cubb on the list.
[单项选择]Will Lambert, CFA, is a financial analyst for Offshore Investments. He is preparing a purchase recommendation on Butch Corporation for internal use. According to the CFA Institute Standards of Professional Conduct, which of the following statements about disclosure of conflicts is not required Lambert would not need to disclose to his employer:（）
A. offshore is an OTC market maker for Butch Corporation’s stock.
B. his wife owns 2000 shares of Butch Corporation.
C. he is a beneficiary of a pension plan of his former employer that owns a large number of shares of Butch’s stock.
[单项选择]William Wong, CFA, is an equity analyst with Hayswick Securities. Based on his fundamental analysis, Wong concludes that the stock of a company he follows, Nolvec Inc., is substantially undervalued and will experience a large price increase. He delays revising his recommendation on the stock from "bold" to "buy" to allow his professional conduct that relate to:（）
A. Duty to clients.
B. Reasonable basis.
C. Duty to his employer.
[单项选择]Fred Valley, CFA, is an analyst at a commercial bank. Valley receives compensation for referrals to the bank’s brokerage and personal financial-planning divisions. His recent referrals are long-time clients from his previous employer, and Valley does not mention the bank’s referral arrangement. Does Valley violate any CFA Institute Standards（）
A. No.
B. Yes, with respect to misrepresentation.
C. Yes, with respect to conflicts of interest.
[单项选择]Gloria Arraria, CFA, is a stock analyst at a large multinational bank trust department. A cash tender offer was announced by a company whose stock was held by Arraria’s employer as well as by her sister. Under the terms of the offer, the first million shares tendered would be accepted in full at $45 a share (which was 15% above the existing market) and the next one million shares on a pro rate basis also at $ 45 a share. Arratia immediately called her sister with the news but waited a few days to tender holdings of the trust department. This situation violated Standard:（）
A. Ⅰ (B)Independence and Objectivity.
B. Ⅵ (B) Priority of Transactions.
C. Ⅳ (A) Loyalty.
[单项选择]Michael Robe, CFA, is a junior analyst for a large financial institution and has been preparing an analysis of United Mines, a coal mining company located in the United States. As part of his research, he examines the company’s proxy voting and rules and practices. Which of the following policies would be considered the most restrictive to shareholders（）
A. United Mines allows proxy voting.
B. Shareholders of United Mines are allowed to cast confidential votes but must be present to do so.
C. United Mines requires shareowner attendance to vote but coordinates the timing of its annual meeting to hold them on the same day as other companies in the region.
