文档介绍：Sample Examination for 1999 Candidates
CFA® Level I
120 Questions
3 Hours
AIMR has constructed the sample examination to help candidates practice taking multiple
choice tests. This 120-question sample examination represents a three-hour section (one-half
the regular exam time). To simulate realistic exam-day conditions, candidates may want to set
aside a block of three hours in which to take the sample examination. Doing so will allow 1½
minutes, on average, for each question.
The sample examination is intended only to give candidates practice at answering questions
that are similar in style to those that will appear on the 1999 CFA Level I examination. None
of these sample questions will appear on that examination. Candidates should not rely on the
sample exam as their only means of preparing for the 1999 CFA Level I examination. Careful
reading and study of the readings listed in the 1999 CFA Level I Study Guide are essential to
being well prepared.
AIMR strives to be accurate with the guideline answers to sample examinations. If you detect
any irregularities, please submit them by fax to: Coordinator, Level I Examination at 804-
980-3631. Corrections will be printed in the Candidate Bulletin and posted on the AIMR Web
site. No individual replies will be given.
Sample Examination Structure
Question Topic Percent Minutes
1–18 Ethical and Professional Standards 15
19–36 Quantitative Analysis 15
37–51 Economics 13
52–80 Financial Statement Analysis 24
81–92 Global Markets and Instruments and Derivatives 10
93–108 Asset Valuation 13
109–120 Portfolio Management and Analysis of 10
Alternative Investments
Total 100
ãAssociation for Investment Management and Research 1
QUESTIONS 1 THROUGH 18 RELATE TO ETHICAL AND PROFESSIONAL
STANDARDS AND ARE ALLOCATED 27 MINUTES (OR 1 ½ MINUTES EACH).
1. The AIMR Code of Ethics specifically addresses all of the following EXCEPT:
A. competence.