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出版社:中国石化
出版日期:2006-4
ISBN:9787802290006
作者:金圣才
页数:333页
章节摘录
42. Jason Blackwell, CFA, works as an investment manager for Mega Capital, a large multinational brokerage firm. He resides in a country whose applicable law is stricter than the Code and Stand-ards but does business with clients in a country whose applicable law is less strict than the Codeand Standards. Blaekwell decides to follow the Code and Standards for clients in the less strict country. While Blackwell is still employed at Mega, Lego Associates verbally asks Blackwell to review client portfolios during evenings and weekends for a fee. Blackwell gets consent from his immediate supervisor at Mega to undertake this independent activity for a one - month trial basis. Which of the following statements about Blackwell s actions involving Standard I, Professional- ism, and Standard IV(A), Loyalty is most accurate? Blackwell: A. did not violate either Standard I or Standard IV (A). B. violated both Standard I and Standard IV (A). C. violated Standard I but did not violate Standard IV (A). 43. A stockbroker who is a member of CFA Institute has a part - time housekeeper who also works for the CEO of Festival, Inc. One day the housekeeper mentions to the broker that she saw the CEO of Festival having a conversation at his home with John Tater, who is a nationally known corpo-rate lawyer and consultant. The stockbroker is restricted from trading on this information:A. if the housekeeper says the meeting concerned a tender offer and the broker knows that it isnon - public information.B. only if the broker knows that the meeting is non - public information. C. if the broker is friends with the CEO of Festival.44. Karen Wilson, CFA, supervises eight junior analysts at Spartan Financial Services. Karen sus-pects that one of the analysts is violating Spartan s personal investing policy. According to theStandards of Practice Handbook, Karen s most appropriate initial action is to:A. initiate an investigation.B. notify her supervisor of the analyst s suspected misconduct.C. require the analyst to liquidate and close all personal accounts.
前言
行人拥有选择是否要执行这种期权的债券的价格一般低于不含任何期权的独立债券:①赎回期权给予债券发行人提前赎回债券的权利。有关赎回期权的特征,本章后续有介绍。②大多数分期偿还贷款中都包含提前偿付期权。如抵押分期贷款,汽车贷款等等。提前偿付期权使债券发行人可以提前偿付所有或部分借款或债券而不受处罚。提前偿付的原因有很多,如借款人用低利率贷款取代旧的较高利率的贷款或房屋拥有者转让房屋,提前偿还住房抵押贷款。③加速偿债基金期权赋予债券发行人偿付超出偿债基金条款约定金额的还款额,直至一个约定的最高额度。④利率上限限制浮动利率债券的利率上限。其利率上限一般以某一短期利率如LIBOR或T-biH利率为参考。债券中的嵌入期权会影响债券的价格。以可赎回期权为例,如果期权被执行,那么期权将提供给发行人在债券到期前来赎回债券的权利,这将制约债券市场价格的上涨空间,增加投资者的交易成本,从而降低投资者的投资收益率。债券持有人拥有卖方期权或者转换期权时,如果持有人执行期权,将会把债券转换为具有更高价值的资产。除了影响债券的价值,嵌人期权还会影响债券价格对利率变化的弹性。 一、CFA:全球金融第一考。顶级金融人才的象征 CFA即为“注册金融分析师”(Charered Financial Analyst),是由美国CFA@协会(其前身为美国投资管理与研究协会,即AIMR)所授予的、全球公认的、体现金融从业人员专业能力和道德操守的一种职业资格称号。 CFA考试于1964年在美国首次举行,经过40多年的发展,现已成为全球规模最大、要求最严的金融职业资格考试。据初步统计,目前全球CFA的报考人数每年为10万人左右,且呈快速增长态势,其考生遍布全球120多个国家和地区,在全球金融行业具有极为广泛的影响。正因为如此,CFA考试被誉为“全球金融第一考”。 二、CFA在中国:近年来快速升温,报考人数迅猛增加 我国最早于1996年引入CFA考试,最初几年,该项考试并未受到国人的重视。但近年来,随着金融改革和金融开放的发展,我国对高端金融人才的需求日益增加,CFA考试在国内迅速升温,报考人数也随之迅速增加。 CFA考试涉及的内容广、难度高。但目前国内市场上还没有相关的CFA@复习资料,国内考生主要通过一些中介机构购买国外资料,如英文Notes等,这些国外资料存在如下两方面的不足:(1)价格太高。国外资料的售价大多在300—500美元,再加上关税、邮寄费、代理费等,其费用更高;(2)不利于中国考生学习。国外资料为全英文编写,由于语言上的差异,国内考生阅读起来较为吃力,复习效率较低。因此,国外的复习资料并不太适合国内考生。 可见,一方面,我国CFA@考试日益升温,国内考生对CFA@学习资料的需求迅速增加,而另一方面,国内市场上还没有合适的图书。因此,编写和出版一套适合国内考生使用的CFA@辅导资料是一件很有意义的事情。
书籍目录
Study Session 1 Ethical and Professional Standards(道德规范与职业行为准则) 一、学习任务 二、学习要求 三、学习精要 1.道德规范与职业行为准则 2.准则Ⅰ-Ⅶ“指南” 3.《全球投资绩效标准》介绍 4.全球投资绩效标准 四、附录:《道德规范与职业行为准则》译文Study Session 2 Quantitative Methods:Basic Concepts(数量方法:基本概念) 一、学习任务 二、学习要求 三、学习精要 5.货向的时间价值 6.贴现现金流的应用 7.统计概念与市场收益 8.概率概念Study Session 3 Quantitative Methods:Application(数量方法:应用) 一、学习任务 二、学习要求 三、学习精要 9.普通概率分布 10.抽样与估计 11.假设检验 12.技术分析
作者简介
CFA学习精要1道德规范与职业行为准则数量方法,ISBN:9787802290006,作者:金圣才
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