1、考點(diǎn)：保本型產(chǎn)品的misrepresentation的問(wèn)題（百題預(yù)測(cè) P11 Q14-1）

Elis is a portfolio manager of high net worth clients. One day, she received a material from her brokerage introducing an investment product that claimed to provide an insured income. She quickly reviewed the product and sent out the emails to all her clients. The email heading was "New fixed income product! Hot opportunity!”, And she also in-closed the products prospectus in her email. Did Elis most likely violate which of the following standards?

A.Misrepresentation the nature of the product only

B.Misrepresentation the nature of the product and fail to disclose the detail of the product

C.Fail to disclose the detail of the product

Solution: A

Insured income differs from fixed income. She in-closed the products prospectus in her email, she didn’t fail to disclose the detail of the product.

2、考點(diǎn)： Money-weighted return（百題預(yù)測(cè)P95 Q13-2）

An investor purchases one share of stock for $85. Exactly one year later, the company pays a dividend of $2.00 per share. This is followed by two more annual dividends of $2.25 and $2.75 in successive years. Upon receiving the third dividend, the investor sells the share for $100. The money-weighted rate of return on this investment is closest to:

A.7.97%.

B.8.15%.

C.8.63%.

Solution: B

The money-weighted rate of return is the internal rate of return (IRR) of the cash flows associated with the investment. Use the cash flow (CF) function of a financial calculator and enter CF0 = –85, CF1 = 2, CF2 = 2.25, and CF3 = 102.75. Calculate the IRR. The answer is 8.15%.

三、來(lái)自金程學(xué)員評(píng)價(jià)：

1、非常感謝金程的老師們，貢獻(xiàn)了百題預(yù)測(cè)，昨天上午場(chǎng)120道這100道里有10道是直中要害，題型完全一樣，還有10道左右在答案解析里邊直接提到，也算是直中，還有另外20道左右考點(diǎn)直中，只是公式變形，類似把已知數(shù)和未知數(shù)換換位置之類的，下午場(chǎng)的這100里邊不多，在那587頁(yè)的百題預(yù)測(cè)里基本都有。

2、在的復(fù)習(xí)階段，我還是覺(jué)得做題很重要，無(wú)論是mock還是sample exam，一定要自己掐表算準(zhǔn)時(shí)間，以增強(qiáng)臨場(chǎng)感。另外，金程的 “百題預(yù)測(cè)班”，幾乎把所有的考點(diǎn)都覆蓋到了，這對(duì)考試前的復(fù)習(xí)確實(shí)有很大的幫助。

3、因?yàn)槠綍r(shí)工作很忙所以根本沒(méi)時(shí)間看書(shū)，沒(méi)辦法就報(bào)了金程的百題班，沒(méi)想到百題覆蓋了大部分知識(shí)點(diǎn)，還有原題，十分驚訝。雖然不知道一級(jí)能不能過(guò)，但還是要謝謝金程的老師們。

4、頭一次進(jìn)CFA幾千人的大考場(chǎng)，的確場(chǎng)面很震撼，不過(guò)此時(shí)的我心里不是很慌張，因?yàn)榻鸪痰乃涂挤?wù)讓我感到身后有一支強(qiáng)大的師資團(tuán)隊(duì)在助我一臂之力。上午和下午考試各長(zhǎng)達(dá)3個(gè)小時(shí)，雖然我沒(méi)提早交卷，但至少留了一個(gè)半小時(shí)復(fù)查。所以，時(shí)間并不緊張?，F(xiàn)在想來(lái)，考試那天的中午能在金程的大巴上坐坐，很幸福。

四、歷年百題預(yù)測(cè)回顧：

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