2025年CFA一级模拟试卷.docxVIP

2025年CFA一级模拟试卷

考试时间：______分钟总分：______分姓名：______

考试时间：6小时

注意事项：

1.本试卷包含80道选择题和10道情景题，共计90道题。

2.请在答题卡上填涂您的答案。选择题作答错误可能扣除分数，具体规则请参照考试说明。

3.情景题部分请根据题目要求，在答题纸上书写您的答案。

4.请确保您的姓名和考生编号准确无误地填涂在答题卡上。

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第一部分：选择题（共80题，每题1分，共计80分）

1.AccordingtotheCFAInstituteCodeandStandards,whichofthefollowingactionsbyananalystwouldbeconsideredaviolationoftheStandardofProfessionalConductrelatingtoIndependenceandObjectivity?

a)Disclosingtoaportfoliomanagerthattheanalystsrecommendationisbasedonaproprietarymodel.

b)Acceptingaluxurywatchfromaninvestmentbankasatokenofappreciationforprovidingpositiveresearchcoverage.

c)Usingconfidentialinformationfromacompanysunairedconferencecalltoinformcurrentclientsbeforetheinformationispubliclyreleased.

d)Statinginareportthatwhilethecompanysstockisundervalued,thereareconcernsaboutitsmanagementintegrity.

2.Thetimevalueofmoneyconceptisbestillustratedbywhichofthefollowingstatements?

a)Aninvestmentrequiringalargerinitialoutlaywillalwaysyieldahigherreturn.

b)Adollarreceivedtodayisworthmorethanadollarreceivedinthefuture.

c)Thenominalrateofreturnisequivalenttotherealrateofreturnwheninflationiszero.

d)Higherriskinvestmentsshouldalwayshavehigherexpectedreturnstocompensateinvestors.

3.Aninvestorisconsideringaddinganewassettotheirportfolio.Whichofthefollowingmeasuresismostappropriatefordeterminingiftheassetwillimprovetheoverallrisk-returnprofileoftheexistingportfolio?

a)Calculatingtheassetsbetarelativetothemarket.

b)Estimatingtheassetsexpectedfuturepriceappreciation.

c)Comparingtheassetshistoricalvolatilitytoitsindustrypeers.

d)Analyzingthecorrelationbetweentheassetsreturnsandtheportfoliosreturns.

4.Theprimarypurposeofahorizontalanalysisofacompanysfinancial