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CFA Level I > Questions > Flashcards

Questions Flashcards

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CFA flashcards
1
Q

Is representative account linked to the top performance of profolios being used to represent the overall firm’s investment result ? yes or no

A

yes

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2
Q

investment mandate

A

an agreement with an investmet manager that sets out how the money is to be invested.

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3
Q

does composite provite infromation about the investment style result & the vairous type of securities being managed ? (yes or no )

A

yes

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4
Q

does composite provite infromation about the investment style result & the vairous type of securities being managed ? (yes or no )

A

yes

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5
Q

is verification part of the the gips ? (yes or no )

A

yes

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6
Q

name the (A) of standard 1

A

KNOWLEDGED OF THE LAW

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7
Q

Name the (B) of standard 1

A

independence and objectivity

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8
Q

name the (c) of standard 1

A

misrepresentation

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9
Q

name the (d) of standard 1

A

misconduct

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10
Q

name the (d) of standard 1

A

misconduct

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11
Q

How many alphabet letters in standard one ?

A

4 (A - B - C - D )

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12
Q

Hoaw many alphabet letters in standard 2 ?

A

2 ( A - B )

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13
Q

how many alphabet letters in standard 3

A

5 ( a, b, c, d, e)

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14
Q

how many letters in standard 4

A

3 ( a,B, C,)

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15
Q

how many alphabet letter is in standard 5

A

3 (a,b,c)

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16
Q

how many letters of alphabte in standard 6 ?

A

3 (a,b,c)

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17
Q

how many letters in standard 7

A

2(a,b)

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18
Q

code of ethics point 1

A
  • act with integrity, competence, diligence, and respect
  • in an ethical way with the public, employers, employees, clients (old and new), colleagues in the profession of investement
  • and other people that participatesl in the global capital market
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19
Q

code of ethics point 2

A
  • place the integrity of the profession & the interest of the client before your own personal interest
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20
Q

code of ethics point 3

A

use reasonble care and exercise independent judgement (be pro) when conducting:

  • investment analysis
  • making investment recommendation
  • taking investment actions
  • and when doing other professional activities
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21
Q

code of ethics point 4

A

practice and encourage others to be pro & be ethical way that will reflect (give credit) on themselves and the professio (industry)

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22
Q

code of ethics point 5

A

promo of the integrity and viability of the global capital markets for the ultimate benefit of society

23
Q

code of ethics point 6

A

maintain and improve your professional competence and the other of other professional.

24
Q

How many points is there in the code of ethics

A

6

25
Q

is ethical principle and moral principle the same ? (yes or No )

A

yes

26
Q

is telling the TRUTH - conforming to society’s expectation? (yes or No)

A

yes

27
Q

what kind of action is telling the truth ?

A

ethical action

28
Q

are suitability and fiduciary standards part of the law and regulations linked to the government ? (yes or no)

A

yes

29
Q

does law and regulation differs between countries ? (yes or no )

A

yes

30
Q

complete the sentence:

CODE OF ETHICS IS ….

A

… A GUIDE - OF HOW PEOPLE SHOULD ACT

31
Q

Standard of conduct is a…

A

… BENCHMARK for the minimal acceptable behavior of community members and help clarify the code of ethics.

32
Q

Standard practice handbook represent what

A

the CFA code of standard

33
Q

Standard practice handbook represent what

A

the CFA code of standard

34
Q

what does members and candidate of the cfa used each year to re-acfirm their commitment to adhere to the code and standard ?

A

professional conduct stamement

35
Q

what kind of action does members and candidate receive if they violate the code and standards ?

A

disciplinary actions.

36
Q

what kind of action does members and candidate receive if they violate the code and standards ?

A

disciplinary actions.

37
Q

explain Identify from the ethical framework

A
  • relevant facts
  • stakeholders
  • dutie owed
  • ethical principles
  • conflict of interest
38
Q

explain Consider from the ethical framework

A
  • situational influences
  • additional guidance
  • alternative actions
39
Q

explain Reflect from the ethical framework

A
  • was the outcome as anticipated ? why or why not
40
Q

explain Reflect from the ethical framework

A
  • was the outcome as anticipated ? why or why not
41
Q

how many ethical framework point is there ?

A

4

42
Q

how many ethical framework point is there ?

A

4

43
Q

what are common influences for the financial industry - in situational influences ?

A

money and prestige

44
Q

how does situational influences affect people actions ?

A

it makes them act in their own self interest on a short-term

45
Q

are situational influences ? (internal or external factors )

A

external

46
Q

what are thre challenges to ethical conduct ?

A

OVERCONFIDENCE and Situational influences

47
Q

what are thre challenges to ethical conduct ?

A

OVERCONFIDENCE and Situational influences

48
Q

why is being ethical important for the economy vs why not being unethical

A

being unethical means that the actions done by someone will affect many. for example, a market crises can happen, economic difficulties, people lose their jobs.

being ethical is important because 1- it creates trust between the investor and the borrowers

being ethical is also important because investments are intangible and it is hard for investors to judge them or inspect them

being ethical is also important because:
an increase in trust means, and increase in participants in the industry / economy, means and increase in the economic growth which leads to more jobs are available to people.

49
Q

why is being ethical important for the economy vs why not being unethical

A

being unethical means that the actions done by someone will affect many. for example, a market crises can happen, economic difficulties, people lose their jobs.

being ethical is important because 1- it creates trust between the investor and the borrowers

being ethical is also important because investments are intangible and it is hard for investors to judge them or inspect them

being ethical is also important because:
an increase in trust means, and increase in participants in the industry / economy, means and increase in the economic growth which leads to more jobs are available to people.

50
Q

What are the 3 ways interest can be interpreted by

A
  • opportunity cost
  • required rate of return
  • discount rate
51
Q

what are the component of the “interest rate” formula

A

real risk free rate + inflation premium + default risk premium + liquidity premium + maturity premium

52
Q

what are the component of the “interest rate” formula

A

real risk free rate + inflation premium + default risk premium + liquidity premium + maturity premium

53
Q

what is the simple interest called ?

A

the interest rate rearned each period on the original investment .

example: invest 100$

FV= 110 $

simple interest is 10$.

54
Q

what is the simple interest called ?

A

the interest rate rearned each period on the original investment .

example: invest 100$

FV= 110 $

simple interest is 10$.

CFA Level I (11 decks)

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