CFA考试一级章节练习题精选0330-22（附详解）
1、A central bank fines a commercial bank it supervises for not following statutory regulations regarding nonperforming loan provisions on three large loans as a result of the bank's loan provisioning policy. Louis Marie Buffet, CFA, sits on the board of directors of the commercial bank as a non-executive director, representing minority shareholders. He also chairs the bank's internal audit committee that determines the loan provisioning policy of the bank. Mercy Gatabaki, CFA, is the bank's external auditor and follows international auditing standards whereby she tests the loan portfolio by randomly selecting loans to check for compliance in all aspects of central bank regulations. Which charterholder is most likely in violation of the Code and Standards?【单选题】
A.Gatabaki
B.Buffet
C.Both
正确答案:B
答案解析:Buffet sat on the audit committee that determined the bank's provisioning policies that were contrary to the statutory regulations of the central bank. As a result, he most likely violated Standard I–Professionalism by not abiding by regulations of a regulatory body. Gatabaki did not violate Standard I -Professionalism because it is not apparent she knowingly facilitated the incorrect provisioning policy.
2014 CFA Level I
"Guidance for Standards I-VII," CFA Institute
Standard I(A)
1、Francesca Ndenda, CFA, and Grace Rutabingwa work in the same department for New AgeManagers, with Rutabingwa reporting to Ndenda. Ndenda learns
that Rutabingwa received a Noticeof Enquiry from the Professional Conduct Program at CFA Institute regarding a potential cheatingviolation when she sat for the CFA exam in June. As Rutabingwa's supervisor, Ndenda is afraid thatRutabingwa's behavior will be seen as a violation of the Code and Standards. Does Ndenda mostlikely have cause for concern?【单选题】
A.No, not until Rutabingwa is found guilty of cheating
B.Yes
C.No, because her responsibilities do not apply
正确答案:C
答案解析:A supervisor's responsibilities relate to detecting and preventing violations by anyone subject to theirsupervision or authority regarding activities they supervise. Ndenda had no way of detecting and/orpreventing Rutabingwa from cheating during the CFA exam, if in fact that is what she did, because itwas an event she did not attend.
CFA Level I
"Guidance for Standards I-VII," CFA Institute
Standard IV(C)
1、Kim Klausner, CFA, monitors several hundred employees as head of compliance for a large investment advisory firm. Klausner has always ensured that his company’s compliance program met or exceeded those of its competitors. Klausner, who is going on a long vacation, has delegated his supervisory responsibilities to Sue Chang. Klausner informs Chang that her responsibilities include detecting and preventing violations of any capital market rules and regulations, and the CFA Institute Code and Standards. Klausner least likely violated the CFA Institute Standards of Professional Conduct by failing to instruct Chang to also consider:【单选题】
A.firm policies.
B.legal restrictions.
C.industry standards.
正确答案:C
答案解析:“Guidance for Standards I–VII”, CFA Institute
2013 Modular Level I, Vol. 1, Reading 2, Standard IV (C) Responsibilities of Supervisors
Study Session 1–2–b
Distinguish between conduct that conforms to the Code and Standards and conduct that violates the Code and Standards.
C is correct because the requirement under Standard IV(C) Responsibilities of Supervisors does not include any reference to industry standards. Standard IV(C) requires supervisors to instruct those subordinate to whom supervision is delegated about detection methods to prevent violations of laws, rules, regulations, firm policies and the CFA Institute Code and Standards.
1、According to the CFA Institute Code of Ethics and Standards of Professional Conduct, trading on material nonpublic information is least likely to be prevented by establishing:【单选题】
A.fire-walls.
B.watch lists.
C.selective disclosure.
正确答案:C
答案解析:CFA Institute Standards
2010 Modular Level I, Vol. 1, pp. 36-42
Study Session 1-2-c
Recommend practices and procedures designed to prevent violations of the Code of Ethics and Standards of Professional Conduct
C is correct as selective disclosure occurs when companies discriminate in making material nonpublic information public. Corporations that disclose information on a limited basis create the potential for insider-trading violations. Standard II (A).
1、Lawrence Hall, CFA, and Nancy Bishop, CFA, began a joint research report on Stamper Corporation. Bishop visited Stamper’s corporate headquarters for several days and met with all company officers. Prior to the completion of the report, Bishop was reassigned to another project. Hall utilized his and Bishop’s research to write the report but did not include Bishop’s name on the report, because she did not agree with Hall’s conclusion included in the final report. According to the CFA Institute Standards of Practice Handbook, did Hall violate any CFA Institute Standards of Professional Conduct?【单选题】
A.No.
B.Yes, with respect to misrepresentation.
C.Yes, with respect to diligence and reasonable basis.
正确答案:A
答案解析:“Guidance for Standards I-VII”, CFA Institute
2010 Modular Level I, Vol. 1, pp. 29-31, 80-82
Study Session 1-2-a
Demonstrate a thorough knowledge of the Code of Ethics and Standards of Professional Conduct by applying the Code and Standards to situations involving issues of professional integrity.
Members are in compliance with CFA Institute’s Standard V (A) Diligence and Reasonable Basis, if they rely on the research of another party who exercised diligence and thoroughness. Because Bishop’s opinion did not agree with the final report, disassociating her from the report is one way to handle this difference between the analysts.