CFA一级模考

CFA一级模考

CFA一级模考题

1 . Which of the following is generally true of the head and shoulders pattern?

A Volume is important in interpreting the data.

B The neckline, once breached, becomes a support level.

C Head and shoulders patterns are generally followed by an uptrend in the security's price.

2 . Nikolai Kondratieff concluded in the 1920s chat since the 1780s, Western economies have generally followed a cycle of how many years?

A 18.

B 54.

C 76.

3 . Based on the decennial pattern of cycles, how would the return of the Dow Jones Industrial Average (DJJA) in the year 2015 compare with the return in 2020?

A The return would be better.

B The return would be worse.

C The answer cannot be determined because the theory does not apply to both of those years.

4 .According to the U.S. presidential cycle theory, the DJIA has the best performance during which year?

A The presidential election year itself.

B The first year following a presidential election.

C The third year following a presidential election.

5 . What is a major problem with long-term cycle theories?

A The sample size is small.

B The data are usually hard to observe.

C They occur over such a long period that they are difficult to discern

1. A is correct. Volume is necessary to confirm the various market rallies and reversals during the formation of the head and shoulders pattern.

2 . B is correct.

3 . A is correct. The decennial pattern theory states that years ending with a 5 will have the best performance of any of the 10 years in a decade and that those ending with a zero will have the worst.

4 . C is correct. A possible reason for the superior performance in the third year is that the U.S. presidential election occurs, together with a number of other elections. in a four-year cycle. so the politicians desiring to be reelected inject money into the economy in the third year to Improve their chances of winning the following year.

5 . A js correct. Long-term cycles require many years to complete; thus. not many cycles are available to observe.