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1、2019LevelIMockExamAMhcmorningsessionofthe2019LevelICharteredFinancialAnalystMockExaminationhas120questions.Tobestsimulatetheexamdayexperience,candidatesareadvisedtoallocateanaverageofoneandahalfminutesperquestionforatotalof180minules(3hours)(orthissessionoftheexam.QuestionsTopicMinutes1-20Ethicaland
2、ProfessionalStandards3021-32QUanl1833-44Econ1845-62FinancialReportingandAnalysis2763-74CorporateFinance1875-81PortfolioManagement10.582-94Equity19.595-10711xcdIncome19.5IOH-II4DerivativesIoS115-120AlternativeInvestments9Total:180Byarretingthismockexam,yuagreetnthefnllwngtermsofw:Thhmockexamisprovide
3、dtncurrentlyregisteredCfAcandidates.Candidatesmayviewandprinttheexamforpersonalexamprepantiononly.ThefollowingACtiYitiCSarcStrictiyprohibitedandmayresulttndisciplinaryand/orlegalaction：accessingorpermittingaccessbyanyoneotherthancurrently-regirteredCFAcandidates;copying,postingtoanywebs(e.emailing,d
4、stnbutngand/orrepnnungthemockexamforanypurposeB201XCFAInshhitf.Allrightsrfserwd.2019LEVELIMOCKEXAMAM1WhCwolikelydetermineswhetheraViolntinnoftheCFAInstituteCCdPandStandardsortestingpolicieshasoccurredandwhatsanctionshouldbeimposed?The:AProfessionalConductStaffandtheDisciplinaryReviewCommitteeBProfes
5、sionalConductStaffCDisciplinaryReviewCommitteeAiscorrect.BoththeProfessionalConductStaffandtheDisciplinaryReviewCommitteeareresponsiblefordeterminingwhetheraViolattonoftheCodeandStandardsortestingpolicieshasoccurredandifsowhatsanctionshouldbeimposed.Followingtheirinvestigation,tpProfMsionaIConductSt
6、affmayCOndudPth?inquiryWlthnodKdpHnarysanction,issueacautionaryletter,orcontinueproceedingstodisciplinethememberorcandidatewhichincludethechargesandaproposedsanction.Ifthatproposalisrejectedbythememberorcandidate,thematterisreferredtoapanelcomposedofDRCMembers-TheanestaskistodetermineWhetheraviolati
7、onOftheCodeandStandardsortestingpoliciesoccurredd11dKsowhatsanctionshouldbeImposed.Bisincorrect.BoththeProfessionalConductStaffandtheDisciplinaryReviewCommitteeareresponsiblefordeterminingwhetheraviolationOftheCodeandStandardsortestingpolideshasoccuedandifsowhatsanctionshouldbeimposed.Cisincorrect.B
8、oththeProfessionalConductStaffandtheDisciplinaryReviewCommitteeareresponsiblefordeterminingwhetheraviolationOftheCodeandStandardsortestingpolideshasoccurredandifsowhatsanctionshouldbeimposed.CodeofEthicsandStandardsofProfessicxidlConduct1.OS诵2HollyBaker,CFAisCKPIeUningtheCFInstituteCodeofEthicstoacl
9、ient.WhichofthefollowingstatementscouldBakermaketomostlikelyreflectdisciplinarysanctionstheCFAInstitutemayimpose?Sanctionsinclude:Afinesforviolations.Brevocationofmembership.Cbanishmentfromtheindustry.BiscorrectastheCFAInstitutemayrevokemembershipforviolationsoftheInstituteCodeofEthics.AisIncorrectb
10、ecauseCFAInsttuteBylawsdonotincludefinesasasanction.CBincorrectasCFAInstitutedocsnothavetheauthoritytobananindividualfromthebusinessanddoesnotalwaysapplysanctionstoeveryVtolationofItsCode.CodeofEthksandStandardsofProfessionalConductLOSa3WilliamWong,CFAfisanequityanalystwithHayswickSecurities.Basedon
11、hisfundamentalanalysis,Wongconcludesthatthestockofacompanyhefollows,Nolveclnc.fissubstantiallyundervaluedandwillexperiencealargepriceincrease.Hedelaysrevisinghisrecommendationonthestockfromholdtobuytoallowisbrothertobuysharesatthecurrentprice.WongisleastlikelytohaveviolatedtheCFAinstituteStandardsof
12、ProfessionalConductrelatedto:Adutytoclients.Breasonablebasis.Cpriorityoftransactions.BiscorrectbecausethereisnothingtosuggestthatWgdoesnothaveareasonablebasisforhisconclusionrelatedoNokecStandardV（八）).Aisincorrectbecausebydelayingtherevisionofhisrecommendatisothathisbrothercanbuysharesatalowerpriceh
13、ehasviolatedtheCFAInstituteStandardsrelatingtodutytoclientsSUnddrdH（八）.SUnddrdVKB).CisIncorrectbecausebydelayingterevisionofhisrecommendatisothathisbrothercanbuysharesatalowerpricehehasviolatedtheCFAInstituteStandardsrelatingtopriorttyoftrans4ctisStandardIIKA),StandardVl(B)LGuidanceforStandardsI-Vll
14、1.oSaStandardIII（八）-LoyaIty,Prudence,andCare,StandardVl(B)-PriorityofTransactions,StandardV（八）-DhgcneMndReasonableBd4HuiChen,CFA1developsmarketingmaterialsforaninvestmentfundhefoundedthreeyearsAgeThrmaterialshcwthe3-yrar,2-yrar.and1yrarreturnsforthefund.HcincludesaftnotethatstatesinsmallprintPastper
15、formancedoesnotguaranteefuturereturns.*HedoesnotclaimcompliancewithGlPSinthedisclosuresorfootnotes.Hcalsoincludesaseparatesheetshowingthemostrecentsemi-annualandquarterlyreturns,whichnotesthattheyhavebeenneitherauditednorverified.HasChenmostlikelyviolatedanyCFAInstituteStandardsofPrufrssiunalConduct?ANdBYes,becauseheincludedunauditedandunverifiedresults.CYes,becausehedidnotadheretotheGlobalInvestmentPerformancestandards.AisccxrectbecausetheStandardsrequirememberstomakereasonableeffortstomakesureperfcxmanceInformationisfairtaccurate,andcomplete.TheStandardsdonotrequirecompliancewith
