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发布时间:2023-11-20 06:46:16

[单项选择]Rejesh Sekar, CFA, is a successful hedge fund manager and uses fundamental and technical statistical models to select stocks for his fund. When Bill Mandeville, a client asks him about the indicators underlying his models, Sekar tells Mandeville that his method is confidential but is proven to provide future returns similar to its strong past performance. Sekar has most likely violated the Standards of Professional Conduct:()
A. only relating to performance presentation.
B. only relating to communication with clients and prospective clients.
C. both relating to performance presentation and communication with clients and prospective clients.

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[单项选择]A hedge fund that takes perfectly offsetting long and short positions is best described as a(n):()
A. market-neutral fund.
B. long/short fund.
C. event-driven fund.
[单项选择]Compared to investing in a single hedge fund, an individual investing in a fund of funds is least likely to obtain:()
A. Lower fees.
B. A higher lever of expertise in finding good-quality hedge funds.
C. Better access to successful hedge funds.
[单项选择]Jill Marsh, CFA, works for Advisors where she manages a portfolio for a wealthy family. Marsh earns one percent of the portfolio’s value each year in the form of a commission from Advisors. The family just told her that any year the portfolio she manages earns more than a 10 percent return, the family will give her the use of the family’s vacation home for one week. Hirsh will comply with Standard Ⅳ (B), Additional Compensation Arrangements, if she:()
A. does nothing with respect to this.
B. sends an e-mail to her supervisor about the vacation home.
C. delivers a typed memo to her supervisor about the vacation home the first time she uses it.
[单项选择]Cristiano Ronaldo, CFA, is a mutual fund portfolio manager at Bengal International Investment. The fund is focused on the global financial services sector. According to the Standards of Professional Conduct relating to Duties to Employers, which of the following statements is most accurate If Ronaldo leaves Bengal Intemational Investment to join Jason Investment Management Corporation, a competitor of Bengal, all of his research records:()
A. can be recreated at Jason from his memory, provided no records are taken from Bengal.
B. are the property of Bengal and cannot be taken without Bengal's permission.
C. may be taken to Jason,provided he is the sole author of the research.
[单项选择]Gus Hayden, CFA, has developed a mutual fund selection product based on historical information from 2000-2010 period and performs a hypothesis test about performances of different styles. In order to minimize the probability of both Type Ⅰ and Type Ⅱ error, Hayden should increase the:()
A. the power of a test.
B. level of significance.
C. sample size.
[单项选择]Roger Clement, CFA, is a public fund manager at Morgan Capital and does research about z-value. The first step for Clement in the process of standardizing a random variable from a given normal distribution to obtain the zvalue is:()
A. to subtract the population mean from the observation obtained.
B. to multiple the observation obtained by the reliability factor assumed.
C. to divide the population mean by the standard deviation.
[单项选择]

Wesley Whitcomb, CFA, participated as a CFA examination grader in 2012. Prior to participating in grading CFA examinations, Whitcomb was required to sign a CFA Institute Grader Agreement drafted by CFA Institute stating that graders are not to reveal or discuss the exam materials with anyone except CFA Institute staff and other graders. Several weeks after the conclusion of the CFA exam grading, Whitcomb returns to his office and is having dinner with several colleagues some of who are the Level Ⅲ candidates in the CFA Program. One of the candidates mentions that he is very disappointed about his examination this time and afraid of failing for the exam because he unintentionally made a calculation mistake when answering the first essay question of investment policy statement. Whitcomb responds by telling the candidate that he was a grader for the 2012 examination and that it would be unfortunate if the candidate did give wrong answer to that question because most candidates scored
A. A
B. B
C. C

[单项选择]Neil Barton, CFA, and Nancy Roberts, CFA, began a joint research report on Stamp Corporation. Nancy spent several days visiting Stamp’s corporate headquarters and meeting with all company officers. Prior to the completion of the report, Nancy was reassigned to another project. Nell utilized his and Nancy’s research to write the report. According to the CFA Institute Standards of practice Handbook, did Nell violate any CFA Institute Standards of Professional Conduct()
A. No.
B. Yes, with respect to misrepresentation.
C. Yes, with respect to independence and objectivity.
[单项选择]All the following statements relating to Cost Management Plan are accurate except:
A. Specifies the precision level to which schedule activity cost estimates will adhere to.
B. Establishes variance thresholds for costs or other indicators.
C. Defines formats for various cost reports.
D. Specifies preferred tools to be used for cost estimating.
[单项选择]Hedge funds are generally not required to publicly disclose their performance, however, some managers choose to make performance information available to the public. This information is then included in hedge fund indexes and some conclusions about the performance of hedge funds can be drawn. Which of the following statements regarding hedge fund performance is least accurate( )
A. In recent years, the Sharpe ratio for hedge funds has been comparable to that of fixed income investments.
B. The reported volatility of hedge fund returns may be higher than the actual volatility of returns.
C. When measured by standard deviation, hedge funds are less risky than traditional equity investments.
[单项选择]
·Read the following article on recruiting and managing staff and the questions.
·For each question (15-20), mark one letter (A, B, C or D) on your Answer Sheet.
As a manager in the service industry sector, I’ve looked at hundreds of CVs in my time. They are not necessarily the bland documents some bosses might think they are! They are full of little pointers towards individuals’ personalities and suitability for the job. The first thing I always look at is an applicant’s employment record. I check for continuity and stability. If somebody has a long list of previous jobs, all of varying length, alarm bells start ringing. Rather than an irregular route from job to job, what I hope to see is stable career progression. What does their career path look like-is it all steps forward. or are there a lot of sideways moves And I am always plea
A. that they have experience of many different jobs.
B. that their careers have developed steadily.
C. the opinion their employers had of them.
D. whether they are married or single.
[单项选择]An analyst compared the performance of a hedge fund index with the performance of a major stock index over the past eight years. She noted that the hedge fund index (created from a database) had a higher average return, higher standard deviation, and higher Sharpe ratio than the stock index. All the successful funds that have been in the hedge fund database continued to accept new money over the eight-year period. Are the average return and the standard deviation, respectively, for the hedge fund index most likely overstated or understated Average return for the Standard deviation for the hedge fund indes hedge fund index()
A. Understated Overstated
B. Overstated Understated
C. Overstated Overstated
[单项选择]A mutual fund manager wants to create a fund based on a high-grade corporate bond index. She first distinguishers between utility binds and industrial bonds; she then, for each segment, defines maturity intervals of less than 5 years, and greater than 10 years. For each segment and maturity level, she classifies the bonds as callable or non-callable. For the manager’s sample, which of the following best describes to: sampling approach number of sampling cells()
A. simple random sample 3
B. simple random sample 12
C. stratified random sample 12
[简答题]International Monetary Fund
[单项选择]The previous project manager for your project managed it without much project organization.There is a lack of management control and no clearly defined project deliverables.Which of the following would be the BEST choice for getting your project better organized ?()
A. Adopt a life cycle approach to the projec
B. Develop lessons learned for each phas
C. Develop specific work plans for each work packag
D. Develop a description of the product of the projec
[单项选择]Dear Ms Downings,
You want retail clerks and managers who are accurate, enthusiastic, and experienced. You want someone who cares about customer service, who understands merchandising, and who can work with others to get the job done. When you’re ready to hire a manager trainee or a clerk who is willing to work toward promotion, please consider me for the job.
Working as clerk and then as assistant department manager in a large department store has taught me how challenging a career in retailing can be. Moreover, my AA degree in retailing (including work in such courses as retailing, marketing, and business information systems) will provide your store with a well-rounded associate. Most important, I am eager to take on responsibility, and willing to continue learning throughout my career. Please look over my resume to see how my skills can benefit your store.
I understand that Wal-Mart prefers to promote its managers from within the company, and I would be pleased to sta
A. Right
B. Wrong
C. Doesn’t Say
[填空题]It is very considerate of you to persuade the managing company to _____________________(安置一些商店) in the residential area.


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