CFA Sample Exam

18603 WordsJan 17, 201375 Pages
Chartered Financial Analyst® CFA® 2011 CFA Level 1 Sample Exam Questions and Answers • 2011 CFA Level 1 Sample Exam Version 1-2 2011 CFA Level 1 Sample Exam 2011 Level 1 Sample Exam Volume 1 SS1 -Ethics and Professional Standards 1. Abasi Hasina, CFA, signed an employment contract with a non-compete clause restricting him from working for a competitor for three years after leaving the employer, an investment bank. After one year, Hsaina. quits his job for a position with an investment bank in a city across the country. The new job pays twice as much as the old one. Lawyers with whom he consulted determined the non-compete clause was a violation of human rights and thus illegal, so he took the offer. Did Hssina most likely…show more content…
Kelso is part of a team of analysts who focus on the automobile industry. Recently, Kelso disagreed wjth two research "sell" recommendations written by her team even though she felt confident the research process was properly conducted. In discussions with several clients, Kelso states "even though my name is on the sell reports, these stocks are a buy because sales and share prices for both auto companies will rise significantly due to strong demand for their vehicles." Concerning the "sell" recommendations, which of Kelso 's following actions would most likely violate the CFA Institute Standards of Professional Conduct? A. Dissociating from the report B. Distinguishing between fact and opinion C. Sharing her personal opinion of the stocks 2 2011 CFA Level 5 Sample Exam 8. Gardner Knight, CFA, is a product development specialist at an investment band. Knight is responsible for creating collateralized debt obligations (CDOs) consisting of residential mortgage bonds. In the marketing brochure for his most recent CDO, Knight provided a list of the mortgage bonds that the CDO was created from. The brochure also states that "an independent third party, the collateral manger, had sole authority over the selection of all mortgage .bonds used as collateral in the CDO." However, Knight met with the collateral manager and helped her select the bonds for the CDO. Knight is least likely to be in violation of which CFA Institute Standards of

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