2025年CFA一级真题训练.docxVIP

2025年CFA一级真题训练

考试时间：______分钟总分：______分姓名：______

Section1:EthicsandProfessionalStandards

1.Ananalystisevaluatinginvestmentopportunitiesforaclient.Theclienthasprovidedtheanalystwithalistofpotentialinvestmentsthattheclientsfamilyhasalong-standingrelationshipwith.Theanalystisawarethattheseinvestmentsmaynotbeintheclientsbestinterestbutishesitanttochallengetheclientschoices.WhichofthefollowingactionsbytheanalystbestreflectstheCFAInstituteCodeandStandards?

a)Proceedwiththeanalysisasrequestedbytheclientwhiledocumentingthepotentialconflictsofinterest.

b)RefusetoanalyzetheinvestmentsuntiltheclientprovidesaclearmandatealigningwiththeCFAInstituteStandardsofProfessionalConduct.

c)Informtheclientaboutthepotentialbiasesinusingfamilyrelationshipstoguideinvestmentdecisionsandrecommendathird-partyexpertforasecondopinion.

d)Suggesttotheclientthatthelong-standingrelationshipswiththeinvestmentsmightindicatelowerrisk,thusjustifyingtheanalysiswithoutfurtherconsideration.

2.Aninvestmentmanagerisresponsibleformanagingaportfolioofequities.Theportfolioincludesseveralcompaniesthatareinvolvedinalegaldispute.Themanagerreceivesnewinformationindicatingthatthelegaldisputecouldsignificantlynegativelyimpactoneofthecompaniesintheportfolio.Themanagerdeterminesthatthisinformationismaterialandnotyetpubliclyavailable.WhichactionismostconsistentwiththeCFAInstituteStandardsofProfessionalConduct?

a)Disclosetheinformationtoaclosefriendwhoisconsideringinvestinginthecompany,asthefriendrequestedspecificinsights.

b)Usetheinformationtoadjusttheportfolioholdingstominimizepotentiallosses,withoutdisclosingthesourceoftheinformation.

c)Waitfortheinformationtobecomepublicbeforetakinganyaction,astimelydisclos