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cfa LEVEL ONE

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2013 Level I Mock Exam: Afternoon Session
The afternoon session of the 2013 Level I Chartered Financial Analyst (CFA®) Mock Examination has 120 questions. To best simulate the exam day experience, candidates are advised to allocate an average of
1.5 minutes per question for a total of 180 minutes (3 hours) for this session of the exam.

Questions

Topic

Minutes

1–18

Ethical and Professional Standards

27

19–32

Quantitative Methods

21

33–44

Economics

18

45–68

Financial Statement Analysis

36

69–78

Corporate Finance

15

79–90

Equity Investments

18

91–96

Derivative Investments

9

97–108

Fixed Income Investments

18

109–114

Alternative Investments

9 …show more content…

Vogler most likely violates the CFA Institute Standards of
Professional Conduct because of her use of:
A. industry expert information.
B. one-on-one meeting information.
C. nonmaterial nonpublic information.

7. Lin Liang, CFA, is an investment manager and an auto industry expert. Last month, Liang sent securities regulators an anonymous letter outlining various accounting irregularities at Road
Rubber Company. Shortly before he sent the letter to the regulators, Liang shorted Road stock for his clients. Once the regulators opened an investigation, which Liang learned about from his sources inside the company, Liang leaked this information to multiple sources in the media.
When news of the investigation became public, the share price of Road immediately dropped
30%. Liang then covered the short positions and made $5 per share for his clients. Liang least likely violated which of the CFA Institute Standards of Professional Conduct?

A. Misconduct
B. Market Manipulation
C. Priority of Transactions

8. Sanjay Gupta, CFA, is interviewed by the First Faithful Church to manage the church’s voluntary retirement plan’s equity portfolio based upon his superior return history. Each church staff member chooses whether to opt in or out of the retirement plan according to his or her own investment objectives. The plan trustees tell Gupta that stocks of companies involved in the sale of alcohol, tobacco,

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