2025年CFA一级道德与专业准则专项训练试卷（含答案）.docx

2025年CFA一级道德与专业准则专项训练试卷（含答案）

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1.Aninvestmentmanagerisevaluatingwhethertoacceptagiftofaluxurywatchfromaclient.Themanagerknowsthattheclientisamajorshareholderofacompanyinwhichtheportfolioisinvested.AccordingtoStandardI(A)-LoyaltytotheClient,whichofthefollowingactionsismostappropriate?

a.AcceptthegiftanddiscloseittotheCFAInstituteStandardsofPracticeCommittee(SPC).

b.Acceptthegiftanddonotdiscloseit,asthevalueisbelowthefirmsgiftpolicythreshold.

c.Declinethegiftandexplaintotheclientthatthegiftpolicyprohibitsacceptinggiftsfromclients.

d.Acceptthegiftandusetheinformationgainedfromtheclientsrelationshipwiththecompanytomaketradingdecisions.

2.Aportfoliomanagerisapproachedbyaformercolleaguewhoworkedatacompetitor.Thecolleagueofferstheportfoliomanagerinsideinformationaboutanupcomingmergerthatisnotyetpublic.AccordingtoStandardII(A)-ConflictsofInterest,whatshouldtheportfoliomanagerdo?

a.Disclosetheinformationtothefirmscompliancedepartmentanddecidewhethertoactbasedontheirguidance.

b.Ignoretheinformationasitisnotdirectlyrelevanttotheportfoliomanagementduties.

c.Usetheinformationtomaketradesintheportfolio,asthecolleagueisnolongeranemployeeofacompetingfirm.

d.RefusetoengagewiththecolleagueandreporttheincidenttotheCFAInstituteStandardsofPracticeCommittee(SPC).

3.Aresearchanalystispreparingareportonasmall,emergingmarket.Theanalysthasaccesstonon-publicinformationaboutacompanysfinancialperformancethatissignificantlybetterthanwhatisavailabletothepublic.AccordingtoStandardII(B)-CommunicationwithClientsandEmployers,whatisthemostethicalapproachfortheanalyst?

a.Includethenon-publicinformationi