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E ¡CN EEE OA A la a Y (27 eLo] h
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Opio!
Resultados mostrados Todas las respuestas, Respuestas enviadas, Respuestas correctas, Comentarios, Preguntas respondidas incorrectamente
EXAMEN PARCIAL 2021-02
Pregunta 1 0 de 0,67 puntos
El!
EXAMEN FINAL 2021-02 "Hugh Benson, CFA, purchases a $100,000 Treasury bill that matures in 90 days for 497,750. If Benson holds the bill until maturity, he will earn a
E holding period yield (HP) of 2.3%. To state the return on a different basis, Benson can:"
Respuesta seleccionada: o Multiply the HPY by 365/90 to determine the money market yield.
eS
Respuestas: Multiply the HPY by 365/90 to determine the money market yield.
AE EE
Compound the HPY tor four periods to calculate the effective annual yield.
a 1jÉl
ales o Convert the HPY to a semiannual effective yield and multiply by 2 to calculate the bond equivalent yield.
Unidades
Eire
Estándares Internacionales "You are considering investing in two different instruments. The first instrument will pay nothing for three years, but then it will pay $20,000 per
z year for four years. The second instrument will pay $20,000 for three years and $30,000 in the fourth year. All payments are made at year-enol. lf
delas
your required rate of return on these investments is 8 percent annually, what should you be willing to pay for:"
0 E
Respuesta seleccionada: o The second instrument
ES
Respuestas: o The first instrument
MEE El
The second instrument
Unidad 4: Reporte y
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"None ofthe,”
Unidad 5: Finanzas
Corporativas
MENE Pregunta 3 0.57 de 0,67 puntos
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SEO Pregunta 3 0,67 de 0,67 puntos 2
E UE E
A Which of the following statements is most correct concerning a member's obligation to his or her employer under the Code and Standards?
iS
E Respuesta O
EE ES es . : z e 2 3 a
seleccionada: Consent from the employer is necessary to permit independent practice that could result in compensation or other
WEAS benefits in competition with the member's employer.
Portafolio
Respuestas: o
Consent from the employer is necessary to permit independent practice that could result in compensation or other benefits in
e competition with the member's employer.
Comunicación
Foro Members are prohibited from undertaking independent practice in competition with their employer.
Members are prohibited from making arrangements or preparations to go into competitive business before terminating their
. relationship with their employer.
ed
(Es
Pregunta 4 0,67 de 0,67 puntos

Verifica tus trabajos
"Elbie Botha, CFA, an equity research analyst at an investment bank, disagrees with her research team's buy recommendation for a particular
company's rights issue. She acknowledges the teanvs recommendation is based on a well-developed process and extensive research, but she feels
the valuation is overpriced based on her assumptions. Despite her contrarian view, her name is included on the research report to be distributed
to all ofthe investment bank's clients. To avoid violating any CFA Institute Standards of Professional Conduct, it would be least appropriate for
Botha to undertake which of the following?”
Respuesta seleccionada: o Issue a new report
Respuestas: Insist her name be removed from the report
Leave her name on the report
o Issue a new report
LIE
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"Jack Gallant lends $10,000 to his business partner Alex Wood. In exchange, Wood gives Gallant shares of preferred stock in MM Inc. paying $500
Ka per year in dividends, and he agrees to repay $6,D00 to Gallant atthe end of year 1. The appropriate discount rate on the MMM preferred shares is
10%. Gallant sells the MM preferred stock at the end of year 1, after receiving the first dividend. Gallants 1-year holding period return is closestto:"
Respuesta seleccionada: o 150
Respuestas: 5%
10%
o 15%
“As part of the Duties to Clients standard, members and candidates must:”
A ¿ z . il á z, ed E >
Respuesta seleccionada: ¿q document client financial constraints after an initial investment action.
Respuestas: document client financial constraints after an initial investment action.
maintain an equal balance of interests owed to their clients and employers.
o deal fairly and objectively with all clients when engaging in professional activities.
"After working 20 years on Wall Street, Jim Gentry, CFA, decides to open his own investment firm on Turtle Islands, located in the Caribbean. Turtle
A —, 20:43
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+ "After working 20 years on Wall Street, Jim Gentry, CFA, decides to open his own investment firm on Turtle Islands, located in the Caribbean. Turtle
—L Island has securities laws that are much less stringent than US laws or the CFA Institute Standards of Professional Conduct. Many of his US based
clients have agreed to keep Gentry as their portfolio manager and move their assets to his new firm. After a few months of operations, Gentry has
encountered several instances in which Turtle Island regulations relieve him of disclosing information to investors that he had been required to
disclose while working in New York. According to the CFA Institute Code and Standards, Gentry must adhere to the:”
Respuesta 3
seleccionada: "Code and Standards because as a charterholder, he need only to adhere to the Code and 5tandards under all
circumstances."
Respuestas: o "Code and Standards or U.S. law, whichever is more strict."
"Laws of Turtle Island, but disclose any discrepancies to US based clients."
"Code and Standards because as a charterholder, he need only to adhere to the Code and Standards under all circumstance:
"Gus Hayden is evaluating the performance of the portfolio manager in charge of his retirement account. The account started with $5,000,000 and
Y | generated a 15% return in year 1 and a -5% return in year 2.Hayden adds $2,000,000 at the beginning of year 2. Using time weighted return, the
appropriately measured annualized return is closest to:"
Respuesta seleccionada: o 4.50%
Respuestas: 3.00%
o 4.50%
9.00%
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“In a bag there are a total of 3 balls: 5 blue balls and 3 red balls. Ifthree balls are picked randomly, which is the probability that all ofthe three balls
-E picked are red?"
Respuesta seleccionada: o 0.0105
Respuestas: o 0.0179
0.0105
0.003
"An investment pays 300 annually for five years, with the first payment occurring today. The present value (PW) of the investment discounted at a
E 4% annual rate is closest to:”
Respuesta seleccionada: o "1,389.00"
Respuestas: "1,336.00"
o "1,389.00"
"1,625.00"
"Based on his superior return history, Vijay Gupta, CFA, is interviewed by the First Faithful Church to manage the church's voluntary retirement
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"Based on his superior return history, Vijay Gupta, CFA, is interviewed by the First Faithful Church to manage the church's voluntary retirement
—L3 plan's equity portfolio. Each church staff member chooses whether to opt in or out of the retirement plan according to his or her own investment
objectives. The plan trustees tell Gupta that stocks of companies involved in the sale of alcohol, tobacco, gambling, or firearms are not acceptable
investments given the objectives and constraints of the portfolio. Gupta tells the trustees he cannot reasonably execute his strategy with these
restrictions and that all his other accounts hold shares of companies involved in these businesses because he believes they have the highest alpha,
By agreeing to manage the account according to the trustees' wishes, does Gupta violate the CFA Institute Standards of Professional Conduct?”
Respuesta seleccionada: ¿y "Yes, because the manager was hired based on his previous investment strategy”
Respuestas: "Yes, because the restrictions provided by the trustees are not in the best interest of the members"
"Yes, because the manager was hired based on his previous investment strategy"
o No
"A couple plans to set aside $20,000 per year in a conservative portfolio projected to earn 7 percent a year. lfthey make their first savings
contribution one year from now, how much will they have at the end of 20 years?"
Respuesta seleccionada: o "5819,909.85"
Respuestas: o "5019,909.65"
"$211,880.29"
"$/49,213.26"
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"$/49,213.26"
Each composite of a GIPS-compliant firm must consist of:
Respuesta seleccionada: o portfolios managed according to a similar investment strategy.
Respuestas: multiple portfolios.
partfolios selected on an ex post basis.
o portfolios managed according to a similar investment strategy.
which statement about a manager s use of client brokerage commissions violates the Code and Standards?
Respuesta o Client brokerage commissions may be directed to pay for the investment manager s operating expenses.
seleccionada:
Respuestas: A client may direct a manager to use that client s brokerage commissions to purchase goods and services for that client.
Client brokerage commissions should be used to benefit the client and should be commensurate with the value of the brokerag:
and research services received.
o Client brokerage commissions may be directed to pay for the investment manager s operating expenses.
PIE
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"Jimmy Deininger, CFA, manages several client portfolios. One of his clients offers him use of a cabin in a vacation spot because the client s
investment results under Deininger s management have exceeded the client s goals. Deininger discloses the gift to his employer. With reference to
the Standards of Practice, Deininger:"
Respuesta seleccionada: o Has complied with the Standards and may accept the gift.
Respuestas: o Has complied with the Standards and may accept the gift.
ls not permitted to accept the gift because he does not have permission from his employer.
"Has appropriately disclosed the gift to his supervisor, but must also disclose it to his other clients."
An investment management firm that does not adopt the GIPS standards could mischaracterize its overall performance by presenting a
performance history:
Respuesta seleccionada: pe, composed of a single top-performing portfolio.
4
Respuestas: that includes terminated portfolios.
o composed of a single top-performing portfolio.
for an investment mandate over all periods since the firm s inception.
y "Lisa Mec Grow, CFA, and Nels on Modello, CFA, are discussing alternative rs of interest rates. Wc Grow states that the opportunity cost
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"Lisa Mc Grow, CFA, and Nelson Modello, CFA, are discussing alternative interpretation of interest rates. Mc Grow states that the opportunity cost
- 4 of holding cash rises when interest rates rise. Modello states that the discounted walue of a set of future cash flows rises when interest rates fall,
Determine whether these statements are correct."
Respuesta seleccionada: o Both of these statements are correct,
Respuestas: o Both of these statements are correct.
Neither of these statements is correct.
Only one of these statements is correct.
"Specialized knowledge and skills, a commitment to serve others, and a shared code of ethics best characterize a(n):"
Respuesta seleccionada: ¡q vocation
Respuestas: vocation
e P rofession
occupation.
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"A project has the following annual cash flows: Year 0 = -$4,662,005; Year 1= $22,610,723; Year 2= -$41,072,261; Year 3= $33,116,550; Year 4=
Y | -$10,000,000. Which of the following discount rates most likely produces the highest NPv?"
Respuesta seleccionada: o 15%
Respuestas: 8%
10%
o 15%
The Duties to Employers standard states that members and candidates must not:
Sad Respuesta seleccionada: g ace pt any gifts that might compromise their independence and objectivity.
Respuestas: accept any gifts that might compromise their independence and ohjectivity.
o deprive their employer of their skills and abilities as related to their employment.
accept compensation competing with their employer s interest and with the written consent of all parties involved.
"Jack Wilson, CFA, a hedge fund manager, takes a large short position in Bonner, Inc. stock. After Wilson establishes his short position, Bonner
E shares trade down 1.15%. One week later, Bonner shares are trading 3.84% below the initial short price, and Wilson reverses the short position and
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2] "Jack Wilson, CFA, a hedge fund manager, takes a large short position in Bonner, Inc. stock. After Wilson establishes his short position, Bonner
—LÍ shares trade down 1.15%. One week later, Bonner shares are trading 3.84% below the initial short price, and Wilson reverses the short position and
establishes a short position in shares ofthe company s competitor, Hatch Company. On a well-known investor message board, Wilson posts a
highly critical message about Hatch, which grossly exageerates problems with a crucial supplier to Hatch. The day after Wilson s message post,
Hatch shares fall 0.97% and Wilson reverses the short position. Did Wilson s actions related to Bonner stock and/or Hatch stock violate the CFA
Institute Standards of Professional Conduct?”
Respuesta seleccionada: ¿y "Yes, in both cases.”
Respuestas: "Yes, in both cases.”
o Only in the case of Hatch.
Only in the case of Bonner.
"Wallace Manaugh, CFA, is analyzing the stock of a manufacturer of fishing boats. Ey analyzing public information, speaking with the firm's
suppliers and customers, and counting the new boats in the company's boat yard, Manaugh concludes that the company's new fishing boat is not
meeting sales expectations. Anticipating that this will cause the stock price to decline, Manaugh takes a short position in the stock. Manaugh has: "
Respuesta seleccionada: o not violated CFA Institute Standards.
Respuestas: an obligation under the Standards to make reasonable efforts to achieve public dissemination of the nonpublic information.
o not violated CFA Institute Standards.
violated the Standards by acting on nonpublic information.
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"suni Kioshi, CFA, is an analyst at Pacific Asset Management, where she covers small-capitalization companies. On her own time, Kioshi often
—L3 speculates in low-price thinly traded stocks for her own account. Over the last three months, Kioshi has purchased 50,000 shares of Basic Biofuels
Company, giving her a 5% ownership stake. A week after this purchase, Kioshiis asked to write a report on stocks in the biofuels industry, with a
request to complete the report within two days. Kioshi wants to rate Basic Biofuels as a buy in this report but is uncertain howto proceed,
Concerning the research report, what action should Kioshi most likely take to prevent violating any ofthe CFA Institute Standards of Professional
Conduct?"
Respuesta seleccionada: a Sell her shares
Respuestas: Not recommend a buy
o Disclose her stock ownership
Sell her shares
"An investment banking department of a brokerage firm often receives material nonpublic information that could have considerable value if used
in advising the firm s brokerage clients. ln order to conform to the Code and Standards, which one of the following is the best policy for the
brokerage firm?"
Respuesta o
seleccionada: Establish physical and informational barriers within the firm to prevent the exchange of information between the
investment banking and brokerage operations.
Respuestas: Permanently prohibit both buy and sell recommendations of the stocks of clients of the investment banking department.
Establish physical and informational barriers within the firm to prevent the exchange of information between the investment
banking and brokerage operations.
Monitor the exchange of information between the investment banking department and the brokerage operation.
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The returns of BVN stock have an unknown distibution but it is known that its mean return is 12% and its standard deviation is 4%. According to
- 4 Tchebyshev”s inequality at least 82.89% of observations should be between:
Respuesta seleccionada: o 0% and 240%
Respuestas: 4% and 20%
o 0% and 24%
-4% AND 28%
"Paper was recently terminated as one of a team of five managers of an equity fund. The fund had two value-focused managers and terminated
Y | one ofthem to reduce costs. In a letter sent to prospective employers, Paper presents, with written permission of the firm, the performance
history ofthe fund to demonstrate his past success.”
Respuesta seleccionada: o Paper violated the Code and Standards by claiming the performance of the entire fund as his own.
Respuestas: Paper did not violate the Code and Standards.
o Paper violated the Code and Standards by claiming the performance of the entire fund as his own.
Paper violated the Code and Standards by including the historical results of his prior employer.
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Paper violated the Code and Standards by including the historical results of his prior employer.
Benchmarks for minimally acceptable behaviors of community members are:
Respuesta seleccionada: o standards of conduct.
Respuestas: a code of ethics.
laws and regulations.
o standards of conduct.
The mosaic theory holds that an analyst:
Respuesta seleccionada: o Can use material public information and nonmaterial nonpublic information in the analyst s analysis.
Respuestas: Violates the Code and Standards ifthe analyst fails to have knowledge of and comply with applicable laws.
o Can use material public information and nonmaterial nonpublic information in the analyst s analysis.
Should use all available and relevant information in support of an investment recommendation.
"Smith, a research analyst with a brokerage firm, decides to change his recommendation for the common stock of Green Company, Inc., from a buy
-4 to a sell. He mails this change in investment advice to all the firm s clients on Wednesday. The day after the mailing, a client calls with a buy order
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"Smith, a research analyst with a brokerage firm, decides to change his recommendation for the common stock of Green Company, Inc., from a buy
to a sell. He mails this change in investment advice to all the firm s clients on Wednesday. The day after the mailing, a client calls with a buy order
for 500 shares of Green Company. In this circumstance, Smith should:"
Respuesta seleccionada: o Advise the customer ofthe change in recommendation before accepting the order.
Respuestas: Accept the order
o Advise the customer of the change in recommendation before accepting the order.
Not accept the order because itis contrary to the firm s recommendation.
"Ina bag there are a total of 3 balls numbered from 1 to 8. Ifthree balls are picked randomly, which is the probability that the balls picked are ball
—L3 number 1, ball number 2 and ball number 3 in that exact order?”
Respuesta seleccionada: pm 0.0105
Respuestas: o 0.003
0.0179
0.0105
— Aceptar
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Contenido ps

E ¡CN EEE OA A la a Y (27 eLo] h

AA Netflic (2) (19) WhatsApp Instagram %P Facebook

Tiempo transcurrido 1 hora, 20 minutos de 1 hora y 30 minutos

MENE Pregunta 3 0.57 de 0,67 puntos

A > AN Netflix 163) O O ES (a et A y (A eS huamani_me.pdf SPA

SEO Pregunta 3 0,67 de 0,67 puntos 2

Pregunta 4 0,67 de 0,67 puntos

Respuesta seleccionada: o Issue a new report

Respuestas: Insist her name be removed from the report

Leave her name on the report

o Issue a new report

A > AN Netflix 163) O O ES (a et A y (A eS A SPA

Pregunta 5 0,57 de 0,67 puntos

Respuesta seleccionada: o 150

Pregunta 6 0 de 0,67 puntos

Respuestas: document client financial constraints after an initial investment action.

maintain an equal balance of interests owed to their clients and employers.

Pregunta 7 0 de 0,67 puntos

a e Al aulavirtual.upc.edu.pe/ultra (27 (prat 0]

A > AN Netflix 163) O O ES (a et A y (A eS A SPA

Pregunta 7 0 de 0,67 puntos

Respuestas: o "Code and Standards or U.S. law, whichever is more strict."

"Laws of Turtle Island, but disclose any discrepancies to US based clients."

Pregunta 8 0,57 de 0,67 puntos

€ (Er A aulavirtual.upc.edu.pe/ultra/courses/ 292183 1/cl/outline o + (27 ae ie) h

A Netflix 163) MINE Instagram %P Facebook

Pregunta 9 0 de 0,67 puntos

Respuesta seleccionada: o 0.0105

Pregunta 10 0,57 de 0,67 puntos

Respuesta seleccionada: o "1,389.00"

Pregunta 11 0 de 0,67 puntos

A > AN Netflix 163) (19) WhatsApp (8) Instagram “P Facebook

Pregunta 11 0 de 0,67 puntos

Pregunta 12 0,67 de 0,67 puntos

Respuesta seleccionada: o "5819,909.85"

A > AN Netflix 163) O O ES (a et A y (A eS huamani_me.pdf SPA

Pregunta 13 0,57 de 0,67 puntos

Each composite of a GIPS-compliant firm must consist of:

Respuesta seleccionada: o portfolios managed according to a similar investment strategy.

Respuestas: multiple portfolios.

partfolios selected on an ex post basis.

o portfolios managed according to a similar investment strategy.

Pregunta 14 0,57 de 0,67 puntos

A > AN Netflix 163) O O ES (a et A y (A eS huamani_me.pdf SPA

Pregunta 15 0,57 de 0,67 puntos

Pregunta 16 0,67 de 0,67 puntos

Respuestas: that includes terminated portfolios.

o composed of a single top-performing portfolio.

Pregunta 17 0,67 de 0,67 puntos

Escribe aquí para buscar ALLIEA

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Pregunta 17 0,67 de 0,67 puntos

Respuesta seleccionada: o Both of these statements are correct,

Respuestas: o Both of these statements are correct.

Neither of these statements is correct.

Only one of these statements is correct.

Pregunta 18 0 de 0,67 puntos

Respuesta seleccionada: ¡q vocation

Pregunta 19 0,57 de 0,67 puntos

A > AN Netflix 163) O O ES (a et A y (A eS huamani_me.pdf SPA

Pregunta 19 0,57 de 0,67 puntos