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CFA Institute CFA-Level-I Exam Questions
- Topic 1: Ethical and Professional Standards
- Topic 2: Quantitative Methods
- Topic 3: Financial Reporting and Analysis .
Free CFA Institute CFA-Level-I Exam Actual Questions
Note: Premium Questions for CFA-Level-I were last updated On Aug. 07, 2025 (see below)
According to the AIMR-PPS, ________ are defined to include all discretionary and nondiscretionary assets.
With regard to real estate, all properties must be included in at least one ________.
According to the AIMR-PPS, terminated portfolios are included in the composite for how long after termination?
Omega Prime Securities is a sizable investment bank that undertakes security issuances on behalf of small and medium-size businesses. Treffil Ellis is the senior vice president of corporate finance at Omega. Treffil, on one of his golf junkets, made acquaintance with Tralth Trevor, owner of a growing chain of resort hotels. Tralth invites Treffil to his estate mansion the next day and over drinks, asks him how fast Omega could issue equity-linked callable notes to finance the $200 million construction of new hotel businesses in Cairo and BalI . He forthrightly tells him that Omega could receive as much as 150 basis points above the normal fee if the issuance could be completed within the month. Treffil knows that this is not enough time to complete a research on Tralth's business and determine the issue price. However, he does know that his research wing could quickly do a comparison with one of the other hotel chains and determine an approximate issue price. He instructs his department to do so. In a month, the public offering is ready for issuance and Omega ends up making almost $15 million more than on other similar business deals. Treffil receives commendation from the CEO for "going beyond the call of duty for his employer." Treffil has
I . violated Standard IV (B.3) - Fair Dealing.
II . not violated any code of ethics.
III . violated Standard IV (A.1) - Reasonable Basis & Representations.
IV . violated Standard IV (B.1) - Fiduciary Duties.
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