FinQuiz level3 mock2017 version5 JuneAMSolutions

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FinQuiz level3 mock2017 version5 JuneAMSolutions

FinQuiz level3 mock2017 version5 JuneAMSolutions ution of this material is strictly prohibited, info@fmquiz.com.CFA Level III Mxk Exam 6 - Solutions (AM)FinQuiz.com - 5‘h Mock Exam 2017 (AM Session)T

he morning session of the 2017 Level III CFA Examination has 12 questions. For grading purposes, the maximum point value for each question is equal to FinQuiz level3 mock2017 version5 JuneAMSolutions

the number of minutes allocated to that question.QuestionsTopicMinutes1Portfolio Management - Individual262Portfolio Management - Individual103Portfo

FinQuiz level3 mock2017 version5 JuneAMSolutions

lio Management - Individual34Portfolio Management - Institutional355Portfolio Management - Institutional166Portfolio Management - Asset Allocation107P

FA Level III Mock Exam 5 - Scrfutens (AM)QUESTION 1 HAS SIX PARTS (A, B. c, D and E) FOR A TOTAL OF 26 MINUTESKyle Lucas is the owner of a privately t FinQuiz level3 mock2017 version5 JuneAMSolutions

raded manufacturing concern which is currently worth SI 5 million and was established twenty-five years ago. Lucas is 65 years of age and intends to s

FinQuiz level3 mock2017 version5 JuneAMSolutions

ell the business three years from today.Lucas has approached portfolio manager Gus Weaver to manage his investment portfolio which is currently worth

FinQuiz level3 mock2017 version5 JuneAMSolutions a question regarding his investment experience. Lucas states. “T have faced significant financial crises in the past and now always look to avoid mak

ing investment choices which hold the potential for disastrous consequences.'’Lucas earns annual business income which is fixed at a pre-tax amount of FinQuiz level3 mock2017 version5 JuneAMSolutions

$100,000. His living expenses are $98,000 in the current year and are expected to increase at the annual rate of inflation of 5%. Upon retirement, he

FinQuiz level3 mock2017 version5 JuneAMSolutions

will no longer cam business income and his annual living expenses will become constant at SI 50,000.If Lucas sells his business at its current market

FinQuiz level3 mock2017 version5 JuneAMSolutions He has instructed Weaver to exclude the boat purchase from the investment decision. Lucas intends to finance his grandson's college education as well

as purchase residential property for him. Total estimated costs will amount to S30 million and will be required fifteen years from today.Lucas is sub FinQuiz level3 mock2017 version5 JuneAMSolutions

ject to an ordinary income and capital gains lax rale of 25% and 30% respectively. He always maintains an emergency reserve equal to 3 years of his an

FinQuiz level3 mock2017 version5 JuneAMSolutions

nual business income in addition to his portfolio holdings.A. Formulate each of the following constraints for Lucas* investment policy statement (IPS)