[LEVEL II 模拟试题7] Mock Level II - Question 6-10 模拟试题

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Question 6 - 7968

Which of the following standards may be violated when investment advisors cover their own trading errors with compensating trades?

A)	Prohibition Against Plagiarism.
B)	Disclosure of Conflicts to Clients and Prospects.
C)	Reasonable Basis and Representations.
D)	Independence and Objectivity.

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Question 7 - 7982

Which of the following is one of the four requirements for meeting fiduciary obligations with regard to soft dollar arrangements? Commissions:

A)	paid must be minimized.
B)	cannot be greater than normal unless the trades being placed are in compensation for a trading error.
C)	paid must be reasonable in relation to the research and execution services provided.
D)	paid must be held in escrow for the benefit of the client.

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Question 8 - 8609

Which of the following statements regarding heteroskedasticity is FALSE?

A)	The assumption of linear regression is that the residuals are heteroskedastic.
B)	Heteroskedasticity may occur in cross-section or time-series analyses.
C)	Heteroskedasticity results in an estimated variance that is too large and, therefore, affects statistical inference.
D)	Conditional heteroskedasticity is the case in which the residuals are correlated with the values of the independent variables.

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Question 9 - 8659

Given: Y = 2.83 + 1.5X

What is the predicted value of the dependent variable when the value of an independent variable equals 2?

A)	-0.55
B)	5.83
C)	6.50
D)	2.83

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Question 10 - 8752

The variance of 100 daily stock returns for Stock A is 0.0078. The variance of 90 daily stock returns for Stock B is 0.0083. What are the hypotheses to test whether these variances are different from one another?

A)	H0: σA2 = σB2 versus Ha: σA2 ≠ σB2.
B)	H0: σA2 = σ02 versus Ha: σA2 ≠ σ02.
C)	H0: σA2 ≠ σB2 versus Ha: σA2 = σB2.
D)	H0: σA2 > σ02 versus Ha: σA2 < σ02.

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Question

6 - #7968

Your answer: B was incorrect. The correct answer was D)

Independence and Objectivity.

Using compensating trades to cover trading errors make it appear that the advisor is placing his or her needs ahead of the client痴 best interest. This is a violation of the Standard concerning Independence and Objectivity.

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Question

7 - #7982

Your answer: B was incorrect. The correct answer was C)

paid must be reasonable in relation to the research and execution services provided.

Commissions paid must be reasonable in relation to the research and execution services provided. This does not imply that trades are always directed to the lowest cost broker.

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Question

8 - #8609

Your answer: B was incorrect. The correct answer was A)

The assumption of linear regression is that the residuals are heteroskedastic.

The assumption of regression is that the residuals are homoskedastic (i.e., the residuals are drawn from the same distribution).

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Question

9 - #8659

Your answer: B was correct!

Y = 2.83 + (1.5)(2)
= 2.83 + 3
= 5.83

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Question

10 - #8752

Your answer: B was incorrect. The correct answer was A)

H₀: σ_A² = σ_B² versus H_a: σ_A² ≠ σ_B².

In hypothesis testing anytime we want to know if something is different from something else this is a two tailed test.  A two tailed test always involves a null hypothesis containing an equals sign (=) and the alternative hypothesis will always contain a not equals to sign (≠).