CFA Level 1 －模考试题(2)(PM) Q16-20

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Question 16

Bill Owens obtained his CFA charter in Sepember 2002 and began using the following letterhead:

William J. Owens, CFA

222 Main Street

Bank Building

Anywhere, USA

member, CFA Institute

received CFA charter September 2002

Last year, Owens did not renew his membership in CFA Institute and must modify his letterhead accordingly. Owens is least likely required to delete the:

A) “CFA” mark following his name.

B) reference to CFA Institute membership.

C) “CFA” mark following his name and the reference to CFA Institute membership.

D) reference to the date when he received his CFA charter.

Question 17

Longhorn Investments prepares its performance presentations in accordance with Global Investment Performance Standards (GIPS). As part of its employee benefits package, Longhorn does not charge a fee to its employees for managing their portfolios. When calculating total firm assets for the purpose of GIPS compliance, Longhorn should:

A) not include these portfolios because they are non-fee-paying accounts.

B) include these portfolios.

C) only include these portfolios if they contain discretionary assets.

D) not include these portfolios if they are valued at less than 5% of total firm assets.

Question 18

Edwin McNeill, CFA, is a senior trader for Grey Securities. In his monthly review of his team’s activity, McNeill notices a series of suspicious trades by one of the traders. McNeill consults his manager, who agrees that these trades are a potential violation. McNeill informs the trader that her duties will be restricted while these trades are being investigated and refers the matter to Grey’s compliance officer for further action. McNeill has:

A) violated Standard IV(C) – Responsibilities of Supervisors by failing to prevent a potential violation.

B) violated Standard III(E) – Preservation of Confidentiality by consulting his manager about the suspicious trades.

C) not violated the Standards.

D) violated Standard IV(C) – Responsibilities of Supervisors by restricting the trader’s duties before the investigation is completed.

Question 19

The following set of data represents sample from a normally distributed population of prices of jeans at a large retailer: $28, $36, $32, $30, $34, $32. Which of the following statements about this sample is least accurate?

A) The range equals $8.

B) The mode is equal to the mean.

C) The mean absolute deviation equals 2.

D) The median equals $31.

Question 20

A firm holds two $50 million bonds with call dates this week.