1、CFALevell經(jīng)典模擬試題1200道【一份十分經(jīng)典的專業(yè)資料，打燈籠都找不到的好資料】8SchweserPrintableTests-Level1-EXAM1Morning-180SchweserPrintableTests-Level1-EXAM1Morning-180SScchhwweesseerrPPrriinnttaabblleeTTeessttss-LLeevveell11-EEXXAAMM11MMoorrnniinngg-118800minutes-Level1-EXAM1Morningminutes-Level1-EXAM1Morningmmiinnuutteess-LLee

2、vveell11-EEXXAAMM11MMoorrnniinnggYoucanprintthispagebygoingtofile-printinyourinternetbrowserEthics-18Questions-27minutesEthics-18Questions-27minutesEEtthhiiccss-1188uueessttiioonnss-2277mmiinnuutteessQuestion1-23379BasedonAIMRsStandardsofProfessionalConductwhichofthefollowingstatementsareaviolationo

3、fStandardIVB6ProhibitionagainstMisrepresentationAyoungtraineebondtradertellsaprospectiveclientthatshecanassisttheclientinalltheclientsinvestmentneedsequityfixedincomeandderivativesandbasedAonheryearsofexperienceasananalystinthebusinessthataninvestmentlookslikeithaslotsofpotentialBAlloftheseAninvestm

4、entmanagerrecommendstoaprospectiveclientaninvestmentinCmortgageIOstripsbecausetheyareguaranteedbyanagencyofthefederalgovernmentAbrokersaysXYZstockis100guaranteedtodoubleinvalueoverthenextsixDmonthsQuestion2-28161AccordingtoAIMRsStandardsofProfessionalConductStandardIBFundamentalResponsibilitiesmembe

5、rsshallnotknowinglyparticipateorassistinlegalandethicalviolationsAnanalystmustreportalllegalviolationstotheproperregulatorycommissionandisheldAresponsibleforparticipatinginillegalactswhenthelawisevidenttoanyoneknowingthelawisheldresponsibleforviolationsbyotherswhentheanalystisunawareofthefactsgiving

6、risetotheviolationisheldresponsibleforparticipatinginillegalactswhenthelawisevidenttoanyoneCknowingthelawandcanparticipateinaviolationbyhavingknowledgeoftheviolationandtakingnoactiontostopitordisassociatefromitisheldresponsibleforparticipatinginillegalactswhenthelawisevidenttoanyoneDknowingthelawand

7、isheldresponsibleforviolationsbyotherswhentheanalystisunawareofthefactsgivingrisetotheviolationQuestion3-28162WhichofthefollowingisaviolationbasedonAIMRsStandardsofProfessionalConductAportfoliomanageracceptsfreetradesfromXYZforherpersonalaccountforAdirectingtheportfoliostradestoXYZShedoesnotinformhe

8、rmanagersincethereisnocashinvolvedAfterinforminghismanageraportfoliomanageracceptsmoneyforgivingabrokerinformationrelatingtoaclientsfinancialstandingAportfoliomanagerisofferedafreevacationtoincreaseperformanceAttheendCoftheyearperformanceisupandthemanageracceptsthevacationafterinforminghismanageroft

9、hefactAportfoliomanagerisunexpectedlyofferedavacationatyear-endfromaclientDwhowaspleasedwiththeirportfoliosperformanceThemanageracceptsthevacationafterinforminghermanagerofthefactQuestion4-28165BasedonAIMRsStandardsofProfessionalConductwhichofthefollowingstatementsareaviolationofStandardIVB6Prohibit

10、ionagainstMisrepresentationAyoungtraineebondtradertellsaprospectiveclientthatshecanassisttheclientinalltheclientsinvestmentneedsequityfixedincomeandderivativesandbasedonheryearsofexperienceasananalystinthebusinessthataninvestmentlookslikeithaslotsofpotentialAninvestmentmanagerrecommendstoaprospectiv

11、eclientaninvestmentinBmortgageIOstripsbecausetheyareguaranteedbyanagencyofthefederalgovernmentAbrokersaysXYZstockis100guaranteedtodoubleinvalueoverthenextsixmonthsDAlloftheseQuestion5-28167NOTNOTWhichoneofthefollowingisNNOOTTconsistentwithAIMRsPerformancePresentationStandardsACashandcashequivalentsm

12、ustbeincludedincompositereturnsAllactualfeepayingdiscretionaryportfoliosshouldbeincludedinatleastoneBcompositeInvestmentperformanceistherecordofthemanagernotthefirmallchangesinCpersonnelshouldbeaccountedforbyadjustingthecompositesperformancehistoryPresentationofperformancemaybeeithergrossornetofinve

13、stmentmanagementDfeesaslongasthemethodandthefeeschedulearedisclosedQuestion6-28168UndertheEmployeeRetirementIncomeSecurityActERISAapersonisafiduciaryifheorshehasdiscretionaryauthorityintheadministrationofthepensionplanrendersinvestmentadviceforafeewithrespecttoapensionplansassetsexercisesanydiscreti

14、onaryauthoritywiththemanagementofthepensionplanoritsassetsBhasanexecutivepositioninthefirmsponsoringthepensionplanhasanexecutivepositioninthefirmsponsoringthepensionplanhasdiscretionaryauthorityintheadministrationofthepensionplanexercisesanydiscretionaryauthoritywiththemanagementofthepensionplanorBi

15、tsassetsQuestion7-29219TherearefourcomponentsoftheAIMRCodeofEthicsAllofthefollowingarepartoftheEXCEPTEXCEPTCodeofEthicsEEXXCCEEPPTTPracticeandencourageotherstopracticeinaprofessionalandethicalmannerthatAwillreflectcreditonmembersandtheirprofessionStrivetomaintainandimprovethecompetenceofregulatorybo

16、diessuchastheSecuritiesandExchangeCommissionSECCStrivetomaintainandimprovethecompetenceofothersintheprofessionDUsereasonablecareandexerciseindependentprofessionaljudgmentQuestion8-29220AIMRbelievesthataimumlevelofprofessionalresponsibilityandconductdictatesthatAmembersbeawareofandcomplywithlawsrules

17、andregulationsgoverningtheirconductcompaniesshouldsetstandardsbasedontheethicsofuppermanagementandtheboardofdirectorsthatfirmsshouldcomplywithalldomesticlawsandregulationsandthattheselawsCalsogovernbehaviorinforeignmarketsregardlessofforeignlawsandrequirementsthataminimumlevelofprofessionalresponsib

18、ilityandconductdictatesthatDmembersbeawareofandcomplywithlawsrulesandregulationsgoverningtheirconductQuestion9-29221TRUETRUEWhichofthefollowingstatementsabouttheAIMRCodeandStandardsisTTRRUUEETheCodeandStandardsrequirethatmembersreportlegalviolationstotheappropriategovernmentalorregulatoryorganizatio

19、ndonotrequirethatmembersreportlegalviolationstotheappropriategovernmentalorregulatoryorganizationexpectmemberstoresignfromtheirjobstodisassociatethemselvesfromclientsengaginginillegalactivitiesDexpectmemberstopersuadetheperpetratortoceaseillegalactivitiesQuestion10-29222EXCEPTEXCEPTAllofthefollowing

20、areappropriateusesoftheCFAdesignationEEXXCCEEPPTTAJeremySalyersCFABJoanneSilbourneisaCFAcharterholderIasaCFAcharterholderexpecttooutperformthemarketbecauseCFACcharterholdershaveonaverageoutperformedtheSPin95percentofthelast50yearsIhaveearnedtheCFAdesignationbypassingthreeexamshavingsufficientworkDex

21、perienceandbecomingamemberofAIMRQuestion11-29223NOTNOTWhichofthefollowingwouldNNOOTTviolateAIMR畳srulesregardingpersonalintegrityandbehaviorAdrivingundertheinfluenceDUIconvictionthatresultsinthelossofonesdriverslicenseforsixmonthsBStealingacarandgoingtoprisonfor18monthsAmisdemeanorconvictionthatresul

22、tsfromlyingaboutyourincomeonyourtaxCreturnDCheatingonanMBApreliminaryexamandbeingexpelledfromtheUniversityQuestion12-29224Whenmustananalystgivecredittothefirm擔(dān)ownresearchstaffforresearchanalysisAWhensendingprintedmaterialstoclientsBWhendiscussingresearchwithaclientCInaprofessionalwitnesssituationDIn

23、inter-officecommunicationsQuestion13-29225NOTNOTAnAIMRmemberisNNOOTTrequiredtonotifyhersupervisorinwritingoftheAIMRCodeandStandardsunderwhichofthefollowingcircumstancesTheemployerhasindicatedawillingnesstoadoptAIMRsCodeandStandardsAandthesupervisorisanAIMRmemberTheemployerhasahighethicalstandardmuch

24、ofwhichisreflectedinwritinginthefirmsMissionStatementCThesupervisorisanAIMRmemberTheemployerhaspubliclyacknowledgedinwritingthattheyhaveadoptedtheDAIMRCodeandStandardsQuestion14-29226WhenanAIMRmemberwhoispresentlyemployedbyafirmundertakesanyindependentEXCEPTEXCEPTpracticehemustdoallofthefollowingEEX

25、XCCEEPPTTAsecurewrittenpermissionfromtheemployerremandapercentagetobedeterminedbytheemployeeandemployeroftheincomeearnedbacktotheemployerCsecurewrittenpermissionfromtheoutsidefirmdisclosetheidentityoftheiremployertoclientsandprospectiveclientsandthefactthattheyareperformingindependentlyoftheemployer

26、Question15-29227FALSEFALSEWhichofthefollowingstatementsregardingemployeeemployerrelationshipsisFFAALLSSEEAAwrittencontractmayormaynotexistbetweenemployerandemployeeTheemployerhasthepowertocontrolanddirectthedetailsofhowworkistobeBperformedTheremustbemonetarycompensationforanemployeremployeerelations

27、hiptoCexistDAnemployeeissomeoneintheserviceofanotherQuestion16-29228WithrespecttoStandardIIIEResponsibilitiesofSupervisorscompliancesupervisorsandEXCEPTEXCEPTcomplianceofficersshoulddoallofthefollowingEEXXCCEEPPTTAdisseminatethecomplianceproceduresincorporateaprofessionalconductevaluationintotheempl

28、oyeesperformancereviewholdhearingswithrepresentativesfromthefirmtodecidewhetherviolationshaveoccurredandthelevelofseverityoftheviolationsDreviewemployeeactionstoensurecomplianceandidentifyviolatorsQuestion17-29229BrettGermaineisanAIMRmemberwhomanagesclientportfoliosHehasthepowertobuyandsellsecuritie

29、sonbehalfofhisclientsHismotherisaclientandBrettmanageshertrustWithrespecttohismother擔(dān)accounthemusttreatheraccountwithabitmorecareandconcerngivingheradvancenoticeofAinformationlikerecommendationchangestreatheraccountwithlesscareandconcernthanhisotheraccountssoastoavoidBtheappearanceoffavoritismandcom

30、plywiththeCodeandStandardsnottakehismothersaccountbecauseitisaviolationoftheCodeandStandardstoCmanageafamilymembersaccountortrusttreatheraccountlikeanyotherfirmaccountandshouldnotgiveheraccountDspecialtreatmentordisadvantageQuestion18-29230InatoughdecisiontoleaveGreenbergandAssociatesJillianCrossCFA

31、decidestoseekemploymentwithacompetingfirmShedecidesthathercurrentmanagementteamisessentialtoherabilitytodoherjobandplanstoconvincetheotherstocomewithherwhensheleavesShealsoplanstotakeherclientlistwithherbecauseshehastostartsomewhereinbuildingabookofbusinessJillianisAoutofcomplianceonlyintakingthecli

32、entlistBoutofcomplianceonlyintryingtogetheremployeestocomewithheroutofcompliancewithStandardIIIBDutytoEmployeronbothCcounts-attemptingtotakehermanagementteamwithherandmisappropriatingtheclientlistDincomplianceQuantitativeAnalysis-18Questions-27minutesQuantitativeAnalysis-18Questions-27minutesuuaannt

33、tiittaattiivveeAAnnaallyyssiiss-1188uueessttiioonnss-2277mmiinnuutteessQuestion19-18868Thereare35observationsarrayedinastemandleafdisplayWhatisthemodeandmedianofthisdata01135666890022223556788900223456678A62and65B60and63C65and62D625and625Question20-18871Usethefollowingdatatoevaluateaninvestmentportf

34、oliothatholdsoneshareofeachofthreefirmsABandCthatdonotpaydividendsBeginningEndingStocksYearPriceYearPriceA1020B5060C100110WhatistheaverageratereturnoftheportfolioA625B1225C1875D4333Question21-18872FALSEFALSEWhichofthefollowingstatementsisFFAALLSSEEATheinterquartilerangecontainshalfthedatapointsinthe

35、datasetTheinterquartilerangeissetathalfthedistancebetweenthelargestandsmallestnumberinthedatasetIfthemedianisontheleftsideoftheinterquartilerangethedataisskewedtotheCleftDownsideoutliersarethoseobservationsbelowthefirstquartileless15timestheDinterquartilerangeQuestion22-18873Usethefollowingdatatocal

36、culatethestandarddeviationabouttheexpectedreturn50chanceofa12return30chanceofa10return20chanceofa15returnA25B30C17D33Question23-18874BasedonthefollowingdatawhatisABCCosprojectedgrowthrateBearNormalBullBearNormalBullBBeeaarrNNoorrmmaallBBuullll30Probability3040ROE101530b604030A50B70C75D69Question24-2

37、9390JustinBanksjustwonthelotteryandistryingtodecidebetweentheannualcashflowpaymentoptionorthelumpsumoptionJustincanearn8atthebankandtheannualcashflowoptionbeginningtodaybeginningtodayis100000yearbbeeggiinnnniinnggttooddaayyfor15yearsWhatistheannualcashflowoptionworthtoJustintodayA85594787B150000000C

38、108000000D92442370Question25-29391GiventhefollowingsampledatafindthestandarddeviationofthereturnstostockAandstockStockAStockB16Year120AStdDevA33StdDevB59BStdDevA40StdDevB72CStdDevA57StdDevB102DStdDevA63StdDevB112Year22024Year31210Question26-29394AninvestorisconsideringtwoinvestmentsStockAhasameanann

39、ualreturnof16percentandastandarddeviationof14percentStockBhasameanannualreturnof20percentandastandarddeviationof30percentCalculatethecoefficientofvariationCVofeachstockTRUETRUEWhichofthefollowingstatementsisTTRRUUEEAStockACV0875hasmoredispersionrelativetothemeanthanstockBBStockACV0875haslessdispersi

40、onrelativetothemeanthanstockBCStockACV114hasmoredispersionrelativetothemeanthanstockBDStockACV114haslessdispersionrelativetothemeanthanstockBQuestion27-29395Theprobabilityofaboomeconomyis40percentTheprobabilityofYachtCohavinga50percentreturngivenaboomeconomyis80percentFindthejointprobabilityofaboome

41、conomyanda50percentreturnforYachtCoA020B032C040D050Question28-29397JanetJacobsintendstostartsavingforretirementtodayinanIRAIfsheinvests3000yeareachyearstartingattheendofyear1howmuchwillsheaccumulatedafter40yearsifsheexpectstoearn12percentovertheperiodA230127426B257742717C27915291D12000000Question29-

42、29398JohnsonIncmanagesagrowthportfolioofequitysecuritiesthathasameanmonthlyreturnof145andastandarddeviationof108TheSP500hasameanmonthlyreturnof12andastandarddeviationof68ThemeanmonthlyreturnonT-billsis030CalculateSharpe抯reward-to-variabilityratioforthegrowthportfolioandfortheSP500WhichoftheTRUETRUEf

43、ollowingstatementsisTTRRUUEEBasedonareward-to-variabilityratiothegrowthportfolioispreferabletotheSPA500BThegrowthportfoliohasmoreexcessreturnperunitofriskthantheSP500CAninvestorwouldalwaysprefertheSP500tothegrowthportfolioBasedonareward-to-variabilityratiotheSP500ispreferabletothegrowthDportfolioQue

44、stion30-29399SarahParkerisbuyinganew25000carHertrade-inisworth5000sosheneedstoborrow20000Theloanwillbepaidin48monthlyinstallmentsandtheannualinterestrateontheloanis75IfthefirstpaymentisdueattheendofthefirstmonthwhatisSarah抯monthlycarpaymentA48057B48358C41667D42763Question31-18557TRUETRUEWhichofthefo

45、llowingstatementsareTTRRUUEEThemeanofasampleoffivenumbers52454isETOC o 1-5 h zXn-15Thestandarderrorofthesamplemeansofthenumbersaboveissn-175Thevarianceofasampleoffivenumbers52454isEX-Xn-115ThesamplingerroristhedifferencebetweenasamplestatisticanditscorrespondingpopulationparameterAIIIandIVonlyBIIIon

46、lyCIIIandIIIonlyDIIIIIIandIVQuestion32-28156Ananalystconductsatwo-tailedz-testtodetermineifsmallcapreturnsaresignificantlydifferentfrom10percentThesamplesizewas200Thecomputedz-statisticis23Usinga5TRUETRUEpercentconfidencelevelwhichstatementisTTRRUUEEAYoucannotdeterminewhattodowiththeinformationgiven

47、BAsamplesizeof200indicatesthatthenullshouldbeacceptedAcceptthenullhypothesisandrejectthealternativehypothesisThatissmallcapreturnsarenotsignificantlydifferentfrom10RejectthenullhypothesisandacceptthealternativehypothesisThatissmallcapDreturnsaresignificantlydifferentfrom10Question33-28158TRUETRUEWhi

48、chofthefollowingstatementsareTTRRUUEEAtwo-tailedtestonalargesamplewithasignificancelevelof01hasconfidenceintervalsof196snAhypothesizedmeanof3asamplemeanof6andastandarderrorofthesamplingmeansof2giveasampleZ-statisticof15ATypeIerrorisrejectingthenullhypothesiswhenitwastrueandaTypeIIerrorisacceptingthe

49、alternativehypothesiswhenitisfalseWhenthesampleZ-statisticisgreaterthanthecriticalZ-statisticinatwo-tailedtestyoushouldrejectthenullhypothesisandacceptthealternativehypothesisAIandIIIonlyBIIandIVonlyCIIIIIandIVonlyDIIIIIIandIVQuestion34-29392EXCEPTEXCEPTAllofthefollowingarepropertiesofthestudent擔(dān)t-d

50、istributionEEXXCCEEPPTTitAissymmetricalBhasfattertailsthananormaldistributionCisdefinedbyasingleparameterthedegreesoffreedomdfDisanormaldistributionQuestion35-29393ThemeanreturnofBartlettCois3percentandthestandarddeviationis6percentbasedon20monthlyreturnsWhatisthestandarderrorofthesampleA200B067C050

51、D134Question36-29396FALSEFALSEWhichofthefollowingstatementsisFFAALLSSEEregardinghypothesistestingAAnanalystcanperformaone-tailedoratwo-tailedtestBAtypeIerrorisacceptanceofahypothesisthatisactuallyfalseCAtypeIIerroristheacceptanceofahypothesisthatisactuallyfalseDThesignificancelevelistheriskofmakinga

52、typeIerrorEconomics-14Questions-21minutesEconomics-14Questions-21minutesEEccoonnoommiiccss-1144uueessttiioonnss-2211mmiinnuutteessQuestion37-28109UnderrationalexpectationsashifttoamoreexpansionaryeconomicpolicywouldAfailtoreducetheunemploymentrateineithertheshortorlongtermBreducetheshortrununemploym

53、entratebutnotthelongtermrateCreducethelongandshorttermunemploymentrateDreducethelongrununemploymentratebutnottheshorttermrateQuestion38-29047TRUETRUEWhichofthefollowingstatementsaboutthebasicfunctionsofmoneyisTTRRUUEEWhenmoneyisdefinedasamediumofexchangeitmeansthatmoneyenablesAvaluetobestoredandtran

54、sportedBMoneysvalueisdirectlyrelatedtothelevelofpricesPapermoneyallowsconsumerstodeferconsumptionencouragesdivisionofClaborandisthebeststoreofvalueDMoneysfunctionasaunitofaccountallowsindividualstoaccountfordebtsQuestion39-29283Youareexpectinganadditionalpaymentof2000ofincomethisyearYouintendtosave5

55、00ofthe2000AccordingtothemultipliereffecttotalspendingwillincreasebyatotalamountofA1500B4000C6000D2500Question40-29284ChangesinthebudgetdeficitduetogovernmentactionsarecalledAmandatoryfiscalpolicyBKeynesianpolicyCmonetarypolicyDdiscretionaryfiscalpolicyQuestion41-29286FALSEFALSEWhichofthefollowingst

56、atementsisFFAALLSSEEregardingtheprocessbywhichfiscalpolicyaffectsaggregatedemandandaggregatesupplyTheresultsofrestrictivefiscalpolicyareAlowerpricesandreducedoutputBimpossibletopredictwithrespecttopricesandoutputCashiftdownwardandtotherightintheaggregatedemandcurveDhigherpricesandhigheroutputQuestio

57、n42-29287WhichofthefollowingstatementsregardingbudgetdeficitsinflationandinterestratesisFALSEFALSEFFAALLSSEEThecrowdingoutmodelimpliesbudgetdeficitswilldecreasethedemandforAloanablefundsandputdownwardpressureontherealrateofinterestThecrowdingoutmodelimpliesbudgetdeficitswillincreasedemandforloanable

58、fundsandputupwardpressureontherealrateofinterestCEmpiricalstudiesshowaweakrelationshipbetweendeficitsandrealinterestratesThenewclassicalmodelimpliesthathigherexpectedfuturetaxeswillstimulateDadditionalsavingsandtherebypermitthegovernmenttoexpandborrowingatanunchangedinterestrateQuestion43-29288Bankr

59、equiredreservesaretheimumreservesrequiredbylawearninterestandmaynotbeloanedtocustomersBminimumreservesrequiredbylawearninterestandmaybeloanedtocustomersminimumreservesrequiredbylawdonotearninterestandmaynotbeloanedtocustomersimumreservesrequiredbylawdoearninterestandmaybeloanedtocustomersQuestion44-

60、29289ThepotentialdepositexpansionmultiplierisAthereciprocaloftherequiredreserveratioBequaltotherequiredreserveratioalwaysequaltotheactualexpansionintheeconomyisincreasedbyahigherreserverequirementQuestion45-29057AssumethatNotasledaproducerofcafeteriatraysoperatesinapurelycompetitivemarketInadditiona