2009 Cfa Level I Mock Exam Afternoon Session

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  • Topic: Chartered Financial Analyst, CFA Institute, Cash flow
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  • Published : November 8, 2012
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2009 Level I Mock Exam: Afternoon Session
The afternoon session of the 2009 Level I Chartered Financial Analyst® Mock Examination has 120 questions. To best simulate the exam day experience, candidates are advised to allocate an average of 1.5 minutes per question for a total of 180 minutes (3 hours) for this session of the exam.

Questions 1-18 19-32 33-44 45-68 69-78 79-90 91-96 97-108 109-114 115-120

Topic Ethical and Professional Standards Quantitative Methods Economics Financial Statement Analysis Corporate Finance Equity Investments Derivative Investments Fixed Income Investments Alternative Investments Portfolio Management Total:

Minutes 27 21 18 36 15 18 9 18 9 9 180

By accessing this mock exam, you agree to the following terms of use: This mock exam is provided to currently-registered CFA candidates. Candidates may view and print the exam for personal exam preparation only. The following activities are strictly prohibited and may result in disciplinary and/or legal action: accessing or permitting access by anyone other than currently-registered CFA candidates; copying, posting to any website, emailing, distributing and/or reprinting the mock exam for any purpose.

LEVEL I MOCK EXAM AFTERNOON

Questions 1 through 18 relate to Ethical and Professional Standards.

1. According to the Standards of Practice Handbook, which of the following statements about fair dealing is least accurate? The Standard related to fair dealing: A. states that members should treat all clients equally. B. imposes a duty with respect to both clients and prospective clients. C. pertains to both investment recommendations and investment actions.

2. An asset manager, a CFA charterholder, manages small-cap portfolios for institutional clients. The manager is convinced, given the deteriorating economic conditions, that as a group, small-cap equities will underperform during the next 12-24 months. To preserve her client’s wealth, the manager sells small-cap equities that she considers most vulnerable to price declines. After considerable research, the manager buys large-cap equities that she believes are better positioned to weather the expected economic downturn. The manager provides complete disclosure of these trades to her clients after the purchase. Has the manager violated any CFA Institute Standards of Professional Conduct? A. No. B. Yes, relating to suitability. C. Yes, relating to misconduct.

3. According to the Standards of Practice Handbook, a supervisor establishing procedures to eliminate conflicts of interest relating to personal trading would least likely recommend requiring: A. a ban on employee investments. B. disclosures of beneficial ownerships. C. duplicate confirmations of employee transactions.

By accessing this mock exam, you agree to the following terms of use: This mock exam is provided to currently-registered CFA candidates. Candidates may view and print the exam for personal exam preparation only. The following activities are strictly prohibited and may result in disciplinary and/or legal action: accessing or permitting access by anyone other than currently-registered CFA candidates; copying, posting to any website, emailing, distributing and/or reprinting the mock exam for any purpose.

4. David Sandridge earned the right to use the CFA designation in September 1968. Sandridge recently retired from the investment management profession. As he is retired, Sandridge no longer attends CFA Institute society meetings and has stopped paying his CFA Institute dues. According to the Standards of Practice Handbook, how should Sandridge refer to his affiliation with the CFA Program? A. David Sandridge, CFA. B. David Sandridge, CFA (retired). C. “I was awarded the CFA charter in 1968.”

5. A CFA Candidate, who is an investment bank equity analyst writes a research report on an oil company recommending a buy. After reviewing the report and not seeing any disclosures a pension fund manager asks the...
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