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Question 16 Windsong Management has hired John Simmons, who received his CFA charter in 2005, and Lucy Wainwright, who passed the Level 2 exam and has registered to take the Level 3 Exam. These two individuals form Windsong’s Great Lakes Group. Which of the following business cards is consistent with the Standards of Professional Conduct? A) Windsong Management Great Lakes Group John Simmons, CFA Lucy Wainwright, Level 2 CFA B) Windsong Management Great Lakes Group John Simmons, CFA Lucy Wainwright C) Windsong Management Great Lakes Group John Simmons, Chartered Financial Analyst, 2005 Lucy Wainwright, Level 3 CFA Candidate D) Windsong Management Great Lakes Group John Simmons, Chartered Financial Analyst Lucy Wainwright, CFA Candidate / Y& o* ]% M$ [% c1 w' t; M
Question 17 When calculating firm assets for the purposes of a GIPS-compliant performance presentation, Acme Investment Management should include: A) all fee-paying discretionary accounts only. B) all fee-paying, discretionary and non-discretionary accounts only. C) all fee-paying and non-fee-paying discretionary and non-discretionary accounts. D) all fee-paying and non-fee-paying discretionary accounts only.
3 F: j$ }' S0 b3 o( BQuestion 18 With regard to verification of compliance with the Global Investment Performance Standards (GIPS): A) verification must be applied on a firm-wide basis. B) a verification report must be provided to all clients and potential clients. C) verification is required. D) verification must be performed by a public accounting firm.
" @ D* p6 w' {7 m, s# i# JQuestion 19 The median of a distribution is least likely equal to the: A) second quartile. B) third quintile. C) fifth decile. D) 50th percentile.
- l6 n' U; t5 ]7 }% `9 w8 F) cQuestion 20 Which of the following statements about money-weighted and time-weighted returns is leastaccurate? A) The money-weighted return applies the concept of internal rate of return to investment portfolios. B) If a client adds funds to an investment prior to an unfavorable market, the time-weighted return will be depressed. C) The time-weighted return measures the compound rate of growth of $1 over a stated time period. D) If the investment period is greater than one year, an analyst must use the geometric mean to calculate the annual time-weighted return. ; E9 K" N1 S3 F$ E! x/ X( u
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发表于 2015-7-13 10:12:12
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