CFA三级真题_2011年考题.pdfVIP

LEVEL III Question: 1 Topic: Individual PM/Behavioral Minutes: 15 Reading References: 2011 Level III, Volume 2, Study Session 3, Reading 7, pp. 5 –12 “Heuristic-Driven Bias: The First Theme, Beyond Greed and Fear: Understanding Behavioral” Finance and the Psychology of Investing, Hersh Shefrin (Oxford University School Press, 2002) 2011 Level III, Volume 2, Study Session 3, Reading 8, pp13 –20 “Frame Dependence: The Second Theme, Beyond Greed and Fear: Understanding” Behavioral Finance and the Psychology of Investing, Hersh Shefrin (Oxford University School Press, 2002) 2011 Level III, Volume 2, Study Session 4, Reading 16, pp. 246 –250 “Estate Planning in a Global Context, ” Stephen M. Horan, CFA, and Thomas R. Robinson, CFA (CFA Institute, 2009). LOS: 2011-III-3-7-a 7. “Heuristic-Driven Bias: The First Theme ” The candidate should be able to a) evaluate the impact of heuristic-driven biases (including representativeness, overconfidence, anchoring-and-adjustment, aversion to ambiguity) on investment decision making. 2011-III-3-8-a 8. “Frame Dependence: The Second Theme ” The candidate should be able to: a) explain how loss aversion can result in investors ’ willingness to hold on to deteriorating investment positions; b) evaluate the impacts that the emotional frames of self-control, regret minimization, and money illusion have on investor behavior. 2010-III-4-16-a, b, f, g 16. “Estate Planning in a Global Context ” The candidate should be able to: a) discuss the purpose of estate planning and explain the basic concepts of domestic estate planni