CFA CFA-Level-I 問題集

質問 1：
Characteristics of a population are called ______, while those of a sample are termed _______.
A. parameters; statistics
B. statistics; measures
C. statistics; parameters
正解：A

質問 2：
Barry Call has supervisory responsibility at DGR Brokerage House. Paul Harry an employee of DGR has committed an offence of the Code and Standards. What course of action should Barry follow in terms of Standard IV (C): Responsibilities of Supervisors, with respect to this violation?
A. Barry must initiate an investigation within a 90 day period to ascertain the extent of the wrong doing and pending the outcome of the investigation Barry should take all steps to ensure that the violation will not be repeated.
B. Barry must immediately initiate an investigation to ascertain the extent of the wrong doing and no further action is needed.
C. Barry must immediately initiate an investigation to ascertain the extent of the wrong doing and pending the outcome of the investigation Barry should take all steps to ensure that the violation will not be repeated.
正解：C
解説: (Topexam メンバーにのみ表示されます)

質問 3：
According to the no-arbitrage principle, in a well-functioning market an arbitrage profit would result from:
A. increased demand
B. irrational pricing
C. inflation
正解：B
解説: (Topexam メンバーにのみ表示されます)

質問 4：
Calculate an 80% confidence interval for a population mean. You have a sample of 21, a sample mean of 25%, and a sample standard deviation of 10%. The sample appears to be approximately normally distributed.
A. [-26%, -24%].
B. [-27%, -23%].
C. [-28%, -22%].
正解：C
解説: (Topexam メンバーにのみ表示されます)

質問 5：
Assume that a company announces an unexpectedly large cash dividend to its shareholders. In an efficient market without information leakage, one might expect:
A. an abnormal price increase after the announcement.
B. no abnormal price change before or after the announcement.
C. cannot tell without additional information.
正解：A

質問 6：
The best action for a portfolio manager to take to preserve capital in a declining stock market is to:
A. sell stock index futures.
B. buy stock index futures.
C. sell call options.
正解：A

質問 7：
A basic assumption of technical analysis in contrast to fundamental analysis is that:
A. security prices move in patterns, which repeat over long periods.
B. aggregate supply of and demand for goods and services are key determinants of stock value.
C. financial statements provide information crucial in valuing a stock.
正解：A
解説: (Topexam メンバーにのみ表示されます)

質問 8：
Item A is recognized for financial reporting but not allowed by tax legislation. Item B is recognized for tax reporting but not for financial reporting. A ______ will result from item A and a ______ will result from item B
A. permanent, temporary.
B. temporary, permanent.
C. permanent, permanent.
正解：C
解説: (Topexam メンバーにのみ表示されます)

質問 9：
If a security just experienced a triple top pattern, its price is then expected to:
A. go down.
B. go up.
C. either go up or go down.
正解：A
解説: (Topexam メンバーにのみ表示されます)