4c11cf6b212b8d10f7fa43504c24cf05

4c11cf6b212b8d10f7fa43504c24cf05 - 2003 CFA Level III...

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2003 CFA ® Level III Examination Morning Session – Essay Candidate Number: _____ _____ _____ _____ _____ _____ THIS BOOK IS THE PROPERTY OF: Association for Investment Management and Research ® 560 Ray C. Hunt Drive Charlottesville VA 22903-0668 USA Tel: 434-951-5499 © 2003 Association for 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 Session of the 2003 Level III examination. Candidates may want to refer to this list as they formulate their answers. Calculate: To ascertain or determine by mathematical processes. Cite: To quote by way of evidence, authority, or proof. Contrast: To compare in respect to differences. 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. Evaluate: To determine or fix the value of; to determine the significance or worth of, usually by careful appraisal and study. Explain: To give the meaning or significance of; to provide an understanding of; to give the reason for or cause of. Formulate: To put in 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. Identify: To establish the identity of; to show or prove the sameness of. 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. Prepare: To put into written form; to draw up. Recommend: To bring forward as being fit or worthy; to indicate as being one’s choice for something or as otherwise having one’s approval or support. Show: To set forth in a statement, account, or description; to make evident or clear. State: To express in words.
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The Morning Session of the 2003 CFA Level III Examination has 13 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 20 2 Portfolio Management 9 3 Portfolio Management 6 4 Asset Valuation 8 5 Quantitative Analysis 16 6 Risk Management 18 7 Portfolio Management 9 8 Portfolio Management 12 9 Portfolio Management 22 10 Portfolio Management 7 11 Portfolio Management 18 12 Asset Valuation 27 13 Portfolio Management 8 Total: 180
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Questions 1 through 3 relate to Rightland Life and Southaw Property and Casualty (P&C), which are life insurance and casualty insurance subsidiaries, respectively, of Alhando Insurance Group. A total of 35 minutes is allocated to these questions. Candidates should
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This note was uploaded on 07/30/2008 for the course CFA 201 taught by Professor Noone during the Spring '07 term at Harvard.

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4c11cf6b212b8d10f7fa43504c24cf05 - 2003 CFA Level III...

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