887c8d6a6aa1358d2d1ecfd96ca97b4b

887c8d6a6aa1358d2d1ecfd96ca97b4b - 2001 CFA Level III...

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2001 CFA f Level III Examination Morning Section - Essay Candidate Number: _____ _____ _____ _____ _____ _____ THIS BOOK IS THE PROPERTY OF: Association for Investment Management and Research Post Office Box 3668 Charlottesville VA 22903-0668 USA Tel: 804-951-5499 ' 2001 Association ±or Investment Management and Research. All rights reserved. FOR AIMR USE ONLY FOR AIMR USE ONLY
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The following list contains the command words used on the Morning Section of the 2001 Level III examination. Candidates may want to refer to this list as they formulate their answers. Critique: To offer a critical review or commentary. Describe: To transmit a mental image, an impression, or an understanding of the nature and characteristics of. Determine: To come to a decision as the result of investigation or reasoning; to settle or decide by choice among alternatives or possibilities. Discuss: To discourse about through reasoning or argument; to present in detail. Explain: To give the meaning or significance of; to provide an understanding of; to give the reason for or cause of. Formulate: To put into a systematized statement or expression; to prepare according to a formula. Give: To yield or furnish as a product, consequence, or effect; to offer for the consideration, acceptance, or use of another. Indicate: To point out or point to with more or less exactness; to show or make known with a fair degree of certainty. Judge: To form an opinion about through careful weighing of evidence and testing of premises. Justify: To prove or show to be valid, sound, or conforming to fact or reason; to furnish grounds or evidence for. Select: To choose from a number or group & usually, by fitness, excellence, or other distinguishing feature. State: To express in words.
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The Morning Section of the 2001 CFA Level III Examination has 12 questions. For grading purposes, the maximum point value for each question is equal to the number of minutes allocated to that question. Question Topic Minutes 1 Portfolio Management 28 2 Portfolio Management 9 3 Portfolio Management 10 4 Portfolio Management 18 5 Portfolio Management 15 6 Portfolio Management 6 7 Portfolio Management 20 8 Portfolio Management 12 9 Portfolio Management 23 10 Portfolio Management 12 11 Asset Valuation 9 12 Asset Valuation 18 Total: 180
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Questions 1 through 5 relate to the pension plan of Acme Industries. A total of 80 minutes is allocated to these questions. Candidates should answer these questions in the order presented. QUESTION 1 HAS TWO PARTS FOR A TOTAL OF 28 MINUTES. Angus Walker, CFA, is reviewing the defined benefit pension plan of Acme Industries. Based in London, Acme has operations in North America, Japan, and several European countries. Next month, the retirement age for full benefits under the plan will be lowered from age 60 to age 55. The median age of Acme&s workforce is 49 years.
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887c8d6a6aa1358d2d1ecfd96ca97b4b - 2001 CFA Level III...

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