注册金融分析师-注册金融分析师一级(下午)模拟10

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1、注册金融分析师一级（下午）模拟10AfternoonSession1MichaelPapis,CFA,isachiefinvestmentofficerofAssessCapitalManagementandmanagesseveralhigh-net-worthindividualclients.Papisisresponsibleforpresentingannualcompositeperformancereportforhismanagedaccountstohisclientsandprospe

2、ctiveclients•Inevaluatingwhichaccountstoinclude,heanalyzeseachofhismanagedaccountsquarterlyandpicksthosethathaveoutperformedthebenchmarktoincludeinthecompositeperformancereport.PapishasleastlikelyviolatedtheStandardsofProfessionalConductrelatingto:A•indep

3、endenceandobjectivity•B•misrepresentation.C•performancepresentation•2^JerrySrruth,CFAZworksasaportfoliomanagerforalargeinvestmentmanagementfirmandmanagesinvestmentportfoliosforhigh-net-worthindividualclients.Smithreliesonhigh-qualityinvestmentresearchthat

4、isconsistentlysoundfromoneofhisfavoritebrokeragefirms,StaffordSecurities•InreturnSmithpaysStaffordahigherthanaveragecommission•Additionally,SmithusesCannanSecurities,anotherbrokeragefirmfortradeexecutiononlyforaparticularclientatthatclientfsdirection.Cann

5、anSecuritieschargesthehighestcommissionofallofthebrokeragesSmithcurrentlyuses•HasSmithmostlikelyviolatedtheStandardsofProfessionalConduct?A.No.B.Yes,byusingStaffordSecuritieswithhigherthanaveragecommission・C.Yes,byusingCannanSecuritieswiththehighestcommis

6、sion.3^KimStone,CFA,worksattradingdeskinHowardHedgeFunds•SamuelPeter,achiefinvestmentmanagerforHowardhasinstructedStonetosellalargeamountofonestockbmsedonaninsideinformationofsignificantlegaldisputes•Peterinadvertentlyheardtheinformationfromacompany1spres

7、identinanelevator•StoneisunawarethatPetergotthisinformation.Stoneacceptsthetradeinstructionandcompletestheorder•HasStonemostlikelyviolatedtheStandardsofProfessionalConduct?A.No.B.Yes,withrespecttoresponsibilitiesofsupervisors.C.Yes,withrespecttomaterialno

8、npublicinformation•4^WhichofthefollowingisarecommendedprocedureforcompliancewiththeStandardsofProfessionalConductrelatingtoadditionalcompensationarrangements?Members:A・obtainwrittenpermissionforonlypecuniaryaddition