2025年CFA一级道德与专业准则模拟试卷（含答案）.docx

2025年CFA一级道德与专业准则模拟试卷（含答案）

考试时间：______分钟总分：______分姓名：______

PartA:MultipleChoiceQuestions

1.Ananalystatasell-sideinvestmentbankisevaluatingacompanyforitsresearchreport.ThecompanysCEO,apersonalfriendoftheanalyst,recentlyapproachedtheanalystandhintedatasignificantstockpurchaseplanthathasnotyetbeenpubliclyannounced.Theanalystisawareofthisinformationbuthasnotyetdecidedhowtoproceed.WhichofthefollowingactionsismostconsistentwiththeCFAInstituteStandardsofPractice?

A.ImmediatelypurchasealargeamountofthestockbasedontheCEOshinttogenerateareturnforthefirm.

B.InformtheresearchdepartmentheadabouttheCEOshintandawaitfurtherinstructionsonhowtoproceed.

C.Waitforthestockpurchaseplantobecomepublicbeforeconsideringanypotentialinvestmentactions.

D.DisclosetheCEOshinttothepublictoavoidanyappearanceofinsidertrading.

2.Aportfoliomanagermanagesclientassetsforaprivatewealthmanagementfirm.Thefirmreceivesafreesubscriptiontoanexpensiveindustrynewsletterfromavendorwhoalsoprovidestradingdatatothefirm.Theportfoliomanagerusesthenewslettertoinforminvestmentdecisions.Thefirmsownershipstructureallowstheportfoliomanagertobenefitfromthenewsletterserviceindirectly.Whichofthefollowingactions,ifany,bytheportfoliomanagerraisesapotentialStandardofPracticeconcern?

A.Nothing,asthenewsletterisagiftanddoesnotprovidematerialnonpublicinformation.

B.Nothing,asthenewsletterisprovidedbyathirdpartyandtheportfoliomanagerhasdisclosedtherelationshiptothefirmscompliancedepartment.

C.Disclosingtherelationshipbetweenthefirmandthenewslettervendortoallclientstoensuretransparency.

D.Usingthenewslettertoidentifyinvestmentopportunities,aslongastheportfoliomanagerdoesnotsharespecificinvestmentideasder