id int64 0 3.72k | subset stringclasses 20
values | query stringlengths 6 5.19k | context stringlengths 0 4.12k | choices listlengths 2 33 | answer_letter stringclasses 33
values | answer_index int64 0 32 |
|---|---|---|---|---|---|---|
0 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario: TOPIC: ETHICAL AND PROFESSIONAL STANDARDS
TOTAL POINT VALUE OF THIS QUESTION SET IS 12 POINTS
Edgar Somer, CFA, was recently hired as a po... | [
"text regarding Somer's investment returns.",
"presentation of the performance for Karibe's representative composite.",
"content of the disclosure statement related to assumptions and calculations.."
] | A | 0 | |
1 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario: TOPIC: ETHICAL AND PROFESSIONAL STANDARDS
TOTAL POINT VALUE OF THIS QUESTION SET IS 12 POINTS
Edgar Somer, CFA, was recently hired as a po... | [
"No",
"Yes, he violates the standard related to preservation of confidentiality",
"Yes, he violates the standard related to communication with clients and prospective clients."
] | A | 0 | |
2 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario: TOPIC: ETHICAL AND PROFESSIONAL STANDARDS
TOTAL POINT VALUE OF THIS QUESTION SET IS 12 POINTS
Edgar Somer, CFA, was recently hired as a po... | [
"Yes",
"No, because he did not identify the risk of coding errors",
"No, because he did not describe the investment process in detail."
] | A | 0 | |
3 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario: TOPIC: ETHICAL AND PROFESSIONAL STANDARDS
TOTAL POINT VALUE OF THIS QUESTION SET IS 12 POINTS
Edgar Somer, CFA, was recently hired as a po... | [
"No",
"Yes, because the client would be disadvantaged by the trade",
"Yes, because he would benefit personally from a trade undertaken for a client."
] | C | 2 | |
4 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario: TOPIC: FIXED INCOME
TOTAL POINT VALUE OF THIS QUESTION SET IS 12 POINTS
Alexander Apollo manages bond portfolios for high-net-worth clients... | [
"Portfolio 1",
"Portfolio 2",
"Portfolio 3."
] | A | 0 | |
5 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario: TOPIC: FIXED INCOME
TOTAL POINT VALUE OF THIS QUESTION SET IS 12 POINTS
Alexander Apollo manages bond portfolios for high-net-worth clients... | [
"-0.05%.",
"0.25%.",
"0.65%.."
] | B | 1 | |
6 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario: TOPIC: FIXED INCOME
TOTAL POINT VALUE OF THIS QUESTION SET IS 12 POINTS
Alexander Apollo manages bond portfolios for high-net-worth clients... | [
"Market 1",
"Market 2",
"Market 3."
] | C | 2 | |
7 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario: TOPIC: FIXED INCOME
TOTAL POINT VALUE OF THIS QUESTION SET IS 12 POINTS
Alexander Apollo manages bond portfolios for high-net-worth clients... | [
"Covered bonds",
"Asset-backed securities",
"Collateralized debt obligations."
] | A | 0 | |
8 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Ruth McDougal, CFA, is a vice president of research with Cratter Finance, which covers the healthcare and medical device industry and ... | [
"not attend the seminar",
"accept Randolph's offer",
"decline Randolph's offer and attend the seminar as originally planned.."
] | C | 2 | |
9 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Ruth McDougal, CFA, is a vice president of research with Cratter Finance, which covers the healthcare and medical device industry and ... | [
"receive permission from the CFA Institute before she accepts the assignment.",
"accept the assignment as there is no conflict of interest.",
"obtain the employer's permission before accepting the referral fee arrangement.."
] | C | 2 | |
10 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Ruth McDougal, CFA, is a vice president of research with Cratter Finance, which covers the healthcare and medical device industry and ... | [
"No.",
"Yes, because she did not disclose that some of the analysis was opinion.",
"Yes, because she did not have a reasonable basis for her recommendation.."
] | C | 2 | |
11 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Ruth McDougal, CFA, is a vice president of research with Cratter Finance, which covers the healthcare and medical device industry and ... | [
"Fair Dealing.",
"Priority of Transactions.",
"Diligence and Reasonable Basis.."
] | A | 0 | |
12 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Ruth McDougal, CFA, is a vice president of research with Cratter Finance, which covers the healthcare and medical device industry and ... | [
"evaluate the transparency of the compliance system.",
"assess any conflicts of interest the fees may cause and evaluate the transparency of the compliance system.",
"assess any conflicts of interest the fees may cause and evaluate the full cost of the services.."
] | C | 2 | |
13 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Ruth McDougal, CFA, is a vice president of research with Cratter Finance, which covers the healthcare and medical device industry and ... | [
"a monetary fine.",
"a monetary fine and/or private censure.",
"private censure and/or suspension.."
] | C | 2 | |
14 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Rejie Ariusu recently passed Level II of the CFA exam. His firm, Scrimm Capital, is an asset manager for several closed-end, pooled in... | [
"Yes.",
"No, Statement 1 is not compliant.",
"No, Statement 2 is not compliant.."
] | A | 0 | |
15 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Rejie Ariusu recently passed Level II of the CFA exam. His firm, Scrimm Capital, is an asset manager for several closed-end, pooled in... | [
"Yes.",
"No; ignoring the lower performance since Ariusu's arrival does not provide a fair and complete presentation of investment performance.",
"No; it would be considered false and misleading not to provide the risk-adjusted performance results since Ariusu's arrival.."
] | A | 0 | |
16 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Rejie Ariusu recently passed Level II of the CFA exam. His firm, Scrimm Capital, is an asset manager for several closed-end, pooled in... | [
"Yes.",
"No, because reporting simulated returns does not provide a fair and complete presentation of performance information.",
"No; CFA Institute Standards allow for simulated investment results only if the simulation is applied retroactively to investment performance.."
] | B | 1 | |
17 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Rejie Ariusu recently passed Level II of the CFA exam. His firm, Scrimm Capital, is an asset manager for several closed-end, pooled in... | [
"No.",
"Yes, because Wheeler received permission from Tami to use the information.",
"Yes, because CFA Institute Standards allow for knowledge gained at one employer to be used in discussions with other firms.."
] | A | 0 | |
18 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Rejie Ariusu recently passed Level II of the CFA exam. His firm, Scrimm Capital, is an asset manager for several closed-end, pooled in... | [
"No.",
"Yes, because Wheeler received permission from Tami to use the information.",
"Yes, because Ariusu recommended the investments included in the performance data.."
] | A | 0 | |
19 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Rejie Ariusu recently passed Level II of the CFA exam. His firm, Scrimm Capital, is an asset manager for several closed-end, pooled in... | [
"decline any additional compensation arrangements.",
"decline any additional compensation arrangements and inform potential Pam Capital investors of the fee arrangement.",
"inform potential Pam Capital investors of the fee arrangement and obtain permission from Pam Capital prior to accepting additional compensa... | C | 2 | |
20 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Oxford Investments is a multinational investment management company that specializes in fixed income and real estate investments. Ron ... | [
"Yes.",
"No, Statement 1 is incorrect.",
"No, Statement 2 is incorrect.."
] | C | 2 | |
21 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Oxford Investments is a multinational investment management company that specializes in fixed income and real estate investments. Ron ... | [
"1.95%",
"2.45%",
"2.95%."
] | C | 2 | |
22 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Oxford Investments is a multinational investment management company that specializes in fixed income and real estate investments. Ron ... | [
"75 bps.",
"295 bps.",
"375 bps.."
] | A | 0 | |
23 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Oxford Investments is a multinational investment management company that specializes in fixed income and real estate investments. Ron ... | [
"interest rate volatility only.",
"likelihood of default only.",
"interest rate volatility and higher likelihood of default.."
] | B | 1 | |
24 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Oxford Investments is a multinational investment management company that specializes in fixed income and real estate investments. Ron ... | [
"12",
"18",
"24."
] | A | 0 | |
25 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Oxford Investments is a multinational investment management company that specializes in fixed income and real estate investments. Ron ... | [
"8.7%",
"9.9%",
"12.1%."
] | C | 2 | |
26 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Angelica Mukasa was recently hired as the CFO of Channel, a leading property and casualty insurer based in a developed European countr... | [
"Allocation 1.",
"Allocation 2.",
"Allocation 3.."
] | A | 0 | |
27 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Angelica Mukasa was recently hired as the CFO of Channel, a leading property and casualty insurer based in a developed European countr... | [
"Shortfall risk.",
"Heuristic approach.",
"Surplus optimization.."
] | B | 1 | |
28 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Angelica Mukasa was recently hired as the CFO of Channel, a leading property and casualty insurer based in a developed European countr... | [
"Global real estate (REITs).",
"Emerging markets equities.",
"Global high-yield corporate bonds.."
] | A | 0 | |
29 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Angelica Mukasa was recently hired as the CFO of Channel, a leading property and casualty insurer based in a developed European countr... | [
"Statement 1.",
"Statement 2.",
"Statement 3.."
] | A | 0 | |
30 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Greta Carson is a financial consultant for high-net-worth clients. Carson meets with prospective clients Nick and Hamidah Johnson. The... | [
"Nick Johnson: Portfolio A; Hamidah Johnson: Portfolio B",
"Nick Johnson: Portfolio B; Hamidah Johnson: Portfolio C",
"Nick Johnson: Portfolio C; Hamidah Johnson: Portfolio A."
] | C | 2 | |
31 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Greta Carson is a financial consultant for high-net-worth clients. Carson meets with prospective clients Nick and Hamidah Johnson. The... | [
"Risk budgeting.",
"Surplus optimization.",
"Monte Carlo simulation.."
] | C | 2 | |
32 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Greta Carson is a financial consultant for high-net-worth clients. Carson meets with prospective clients Nick and Hamidah Johnson. The... | [
"Statement 1.",
"Statement 2.",
"Statement 3.."
] | B | 1 | |
33 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Greta Carson is a financial consultant for high-net-worth clients. Carson meets with prospective clients Nick and Hamidah Johnson. The... | [
"9.50%",
"9.74%",
"10.27%."
] | B | 1 | |
34 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Erica Taylor, CFA, is a derivatives analyst at Alpha Asset Management (Alpha). Taylor is concerned by recent equity market volatility ... | [
"collar.",
"covered call.",
"short straddle.."
] | A | 0 | |
35 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Erica Taylor, CFA, is a derivatives analyst at Alpha Asset Management (Alpha). Taylor is concerned by recent equity market volatility ... | [
"$25.95",
"$27.22",
"$33.28."
] | C | 2 | |
36 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Erica Taylor, CFA, is a derivatives analyst at Alpha Asset Management (Alpha). Taylor is concerned by recent equity market volatility ... | [
"$12.49",
"$12.75",
"$12.86."
] | A | 0 | |
37 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Erica Taylor, CFA, is a derivatives analyst at Alpha Asset Management (Alpha). Taylor is concerned by recent equity market volatility ... | [
"$23.17 and $36.83.",
"$23.67 and $37.33.",
"$26.45 and $34.55.."
] | A | 0 | |
38 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Alex Duhamel is an investment manager at Nashua Investment Associates Ltd. (Nashua). Duhamel specializes in portfolio management and i... | [
"Buy 199 Euro index futures.",
"Buy 226 Euro index futures.",
"Buy 263 Euro index futures.."
] | C | 2 | |
39 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Alex Duhamel is an investment manager at Nashua Investment Associates Ltd. (Nashua). Duhamel specializes in portfolio management and i... | [
"5.45%",
"8.00%",
"13.89%."
] | C | 2 | |
40 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Alex Duhamel is an investment manager at Nashua Investment Associates Ltd. (Nashua). Duhamel specializes in portfolio management and i... | [
"Statement 1.",
"Statement 2.",
"Statement 3.."
] | B | 1 | |
41 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Alex Duhamel is an investment manager at Nashua Investment Associates Ltd. (Nashua). Duhamel specializes in portfolio management and i... | [
"pay $36,000 to the swap counterparty.",
"receive $67,500 from the swap counterparty.",
"receive $103,500 from the swap counterparty.."
] | C | 2 | |
42 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Richard Elliott, CFA, is the head of the fixed income department of Lowell Wealth Management (LWM), a leading investment advisory firm... | [
"-1.00%",
"1.00%",
"1.50%."
] | A | 0 | |
43 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Richard Elliott, CFA, is the head of the fixed income department of Lowell Wealth Management (LWM), a leading investment advisory firm... | [
"Macaulay duration.",
"Modified duration.",
"Effective duration.."
] | C | 2 | |
44 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Richard Elliott, CFA, is the head of the fixed income department of Lowell Wealth Management (LWM), a leading investment advisory firm... | [
"The 2-year.",
"The 30-year.",
"Both bonds have the same expected total return.."
] | B | 1 | |
45 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Richard Elliott, CFA, is the head of the fixed income department of Lowell Wealth Management (LWM), a leading investment advisory firm... | [
"Portfolio 1.",
"Portfolio 2.",
"Portfolio 3.."
] | A | 0 | |
46 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Maria Robinson, CFA, is a senior analyst in the Balance Sheet Strategy Division of Bayside Insurance (Bayside), a regional insurance c... | [
"Cash flow matching",
"Duration matching",
"The strategies will perform the same.."
] | B | 1 | |
47 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Maria Robinson, CFA, is a senior analyst in the Balance Sheet Strategy Division of Bayside Insurance (Bayside), a regional insurance c... | [
"529 contracts.",
"969 contracts.",
"1101 contracts.."
] | B | 1 | |
48 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Maria Robinson, CFA, is a senior analyst in the Balance Sheet Strategy Division of Bayside Insurance (Bayside), a regional insurance c... | [
"Increased diversification and stable income streams.",
"Economies of scale and daily liquidity.",
"Ability to redeem at NAV and intraday liquidity.."
] | B | 1 | |
49 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
Maria Robinson, CFA, is a senior analyst in the Balance Sheet Strategy Division of Bayside Insurance (Bayside), a regional insurance c... | [
"Total return receiver—to capture appreciation in the index.",
"Total return payer—to capture the cash flows of the index.",
"Total return receiver—to avoid counterparty credit risk.."
] | A | 0 | |
50 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
The Cherry Street Foundation is a nonprofit institution that provides resources for refugee children around the world. Over the last s... | [
"the benchmark should have a limited number of underlying securities.",
"the benchmark's underlying securities should have significant depth of liquidity.",
"the tax burden is not a factor in considering actively managed strategies.."
] | B | 1 | |
51 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
The Cherry Street Foundation is a nonprofit institution that provides resources for refugee children around the world. Over the last s... | [
"full replication.",
"stratified sampling.",
"optimization.."
] | C | 2 | |
52 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
The Cherry Street Foundation is a nonprofit institution that provides resources for refugee children around the world. Over the last s... | [
"equitize the portfolio using futures.",
"transact at the market-on-close price.",
"use stratified sampling to mimic the benchmark.."
] | B | 1 | |
53 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
The Cherry Street Foundation is a nonprofit institution that provides resources for refugee children around the world. Over the last s... | [
"Fund A.",
"Fund B.",
"Fund C.."
] | C | 2 | |
54 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
The Cherry Street Foundation is a nonprofit institution that provides resources for refugee children around the world. Over the last s... | [
"Hiring an external proxy advisory firm.",
"Purchasing the security on margin.",
"Loaning the security to a short seller.."
] | C | 2 | |
55 | CFA-Challenge | Carefully read the scenario provided and the subsequent question. Your task is to analyze the scenario and select the most appropriate answer from the options A, B and C.
Scenario:
The Cherry Street Foundation is a nonprofit institution that provides resources for refugee children around the world. Over the last s... | [
"activist investors typically have a longer time horizon.",
"ESG-focused activists use different processes and tactics than traditional activists.",
"activist investors typically take a stake of less than 10%.."
] | C | 2 |
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