2025年CFA一级《伦理与职业准则》测试.docxVIP

2025年CFA一级《伦理与职业准则》测试

考试时间：______分钟总分：______分姓名：______

Instructions:PleaseanswerthefollowingquestionsbasedontheCFAInstituteStandardsofProfessionalConductandrelevantlawsandregulations.

1.AninvestmentanalystatXYZSecuritiesiscoveringthetechnologysector.Theanalystdevelopsaproprietarymodelthatpredictsshort-termpricemovementswithahighdegreeofaccuracy.Theanalystsharesthismodelanditsrecentsuccessfulpredictionswithaclosefriendwhoisanindividualinvestor.Thefriendusesthisinformationtogeneratesubstantialprofits.Theanalysthasnotdisclosedtheproprietarynatureofthemodeltothefriend.Theanalystsfirmhasnoformalpolicyregardingthesharingofnon-publicinformationwithfriendsorfamily.ConsidertheapplicableStandardsofProfessionalConduct.Whichofthefollowingactions,iftakenbytheanalyst,mostlikelyviolatestheCFAInstituteStandardsofProfessionalConduct?

a.Informingthefriendthatthemodelisproprietarybutallowingthefriendtocontinueusingit.

b.Statingtothefriendthatthemodelisdevelopedinternallybutdecliningtoshareitsspecifics.

c.Discouragingthefriendfromusingthemodelfortradingpurposes.

d.Continuingthepracticeofsharingsuccessfulpredictionsbutdocumentingeachinstance.

2.AportfoliomanageratABCInvestmentsmanagestwoseparateportfoliosforclients:PortfolioA,consistingprimarilyofpubliclytradedstocks,andPortfolioB,consistingofprivateplacementsinstartups.ClientSmith,whoinvestedinPortfolioA,askstheportfoliomanagerforinformationaboutaninvestmentopportunityinastartupthatisalsopartofPortfolioB.TheportfoliomanagerknowsthatthisstartupinvestmentgeneratesasignificantportionofPortfolioBsreturnsbuthasnotpubliclydisclosedthisspecificstartupinvestment.ClientSmithisnotaninvestorinPortfolioB.Whichofthefollowingactions,iftakenb