FinQuiz level3 mock2017 version6 JuneAMSolutions

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FinQuiz level3 mock2017 version6 JuneAMSolutions

FinQuiz level3 mock2017 version6 JuneAMSolutions ution of this material is strictly prohibited, info@fmquiz.com.CFA Level III Ntock Exam 6 - Solutions (AM)FinQuiz.com - 6’1' Mock Exam 2017 (AM Sessio

n)The morning session of the 2017 Level III CFA Examination has 11 questions. For grading purposes, the maximum point value for each question is equal FinQuiz level3 mock2017 version6 JuneAMSolutions

to the number of minutes allocated to that question.Questions TopicMinutes1Portfolio Management - Individual312Portfolio Management - Individual123Po

FinQuiz level3 mock2017 version6 JuneAMSolutions

rtfolio Management - Individual184Portfolio Management - Individual95Portfolio Management - Institutional226Portfolio Management - Economics24Portfoli

STION 1 HAS FIVE PARTS (A. B. c, D. F.) FOR A TOTAL OF 31 MINUTESCynthia McCollum, CFA, is a portfolio manager at Western Brookes, an asset advisory l FinQuiz level3 mock2017 version6 JuneAMSolutions

inn. Hart has been asked to construct an investment portfolio for Mona Hart, a senior manager at a manufacturing enterprise. McCollum collects the fol

FinQuiz level3 mock2017 version6 JuneAMSolutions

lowing information on Hart:•Hart is 52 years old and is the divorced mother of two sons, aged 8 and 12 respectively.•Iler living expenses arc protecte

FinQuiz level3 mock2017 version6 JuneAMSolutions hinds for saving purposes. Her salary is expected to grow at the annual inflation rate of 4%. The inflation rate is expected to remain the same for t

he indefinite future.•She expects her living expenses to reduce by 20% upon her retirement, which is ten years from today.•She is taxed at a rate of 3 FinQuiz level3 mock2017 version6 JuneAMSolutions

5% on all income, dividends and capital gains.•She has recently received S3 million from her deceased father's estate which she wishes to employ for i

FinQuiz level3 mock2017 version6 JuneAMSolutions

nvestment purposes.During McCollum's meeting with Hart, the client makes two statements which the manager feels are essential to incorporate in the de

FinQuiz level3 mock2017 version6 JuneAMSolutions nt that my funds were tied up in a poorly performing asset class for quite some time. 1 would request refraining from all types of alternative asset c

lasses."Statement 2: “I would not like my investment portfolio to decline by more than 15% in nominal terms in any given year and will be satisfied wi FinQuiz level3 mock2017 version6 JuneAMSolutions

th an annual pretax real return of'2.5%.”A. Formulate the return objective of an investment policy statement for Han. Calculate the after-tax nominal

FinQuiz level3 mock2017 version6 JuneAMSolutions

return requirement to achieve this objective assuming that the inheritance is invested in accordance with the slated before-tax real rate of return. S