2025年CFA一级道德与专业准则冲刺试卷（含答案）.docx

2025年CFA一级道德与专业准则冲刺试卷（含答案）

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2025年CFA一级道德与专业准则冲刺试卷

一、选择题

1.Ananalystatasell-sideinvestmentbankispreparingaresearchreportonCompanyXYZ.TheanalystgathersfavorableinformationaboutXYZsupcomingearnings,whichisnotyetpublic.TheanalystsbrotherworksatacompanythatisacompetitortoXYZ.Theanalystsharesthenon-public,favorableinformationwiththeirbrother,hopingitwillhelphisbrotherscompanymakeastrategicdecision.Whatactionhastheanalysttakenregardingconflictsofinterest?

A.ViolatedStandardII(B)-IndependenceandObjectivitybyallowingapersonalinteresttoinfluencetheirwork.

B.ViolatedStandardIII(A)-DutyofCarebyusingnon-publicinformationforpersonalbenefit.

C.ViolatedStandardVI-MarketManipulationbyattemptingtoinfluencethemarketthroughsharingnon-publicinformation.

D.TheanalysthasnotviolatedanyStandardsastheinformationsharingisamongfamilymembersanddoesnotinvolvedirectcompensation.

2.Aportfoliomanagermanagesaclientsportfolioandalsoprovidesinvestmentadvicetotheclient.Theportfoliomanagerchargestheclientamanagementfeebasedontheportfoliosassetsundermanagement(AUM).Additionally,theportfoliomanagerearnsasignificantcommissionforsellingtheclientaparticulartypeofstructuredproductthatgeneratesahighfeebutmaynotbeintheclientsbestinterest.Whatprimaryethicalconcerndoesthissituationpresent?

A.ThemanagementfeestructureviolatesStandardI(D)-CompensationArrangementsifitisnotdisclosed.

B.ThepotentialconflictbetweenthemanagementfeeandthecommissionincomeviolatesStandardII(B)-IndependenceandObjectivity.

C.ThesaleofthestructuredproductviolatesStandardIII(A)-DutyofCareifitisnotsuitablefortheclient.

D.ThedualroleofportfoliomanagerandadvisordoesnotviolateanyStandardsaslongas