单项选择题

Which of the following is NOT a reason bond market indexes are more difficult to create than stock market indexes（）

A. Bond deviations tend to be relatively constant.
B. There is a lack of continuous trade data available for bonds.
C. The universe of bonds is always changing due to new issues, retired bonds, sinking funds and calls.

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单项选择题Effective duration is more appropriate than modified duration as a measure of a bond’s price sensitivity to yield changes when:（）

A. the bond contains embedded options.
B. yield curve changes are not parallel.
C. the bond is a floating rate security.

单项选择题A stockbroker who is a CFA Institute member is called on the telephone by the CEO of a large company. The CEO asks to buy shares of the CEO’s company for the accounts of the CEO’s children. In the course of the conversation, the CEO says this will really pay off when the upcoming takeover goes through. The stockbroker checks her sources and finds no information about the takeover. In this ease the broker should:（）

A. only execute the order in compliance with Standard Ⅲ (A), Loyalty, Prudence, and Care. Since the client is buying the stock for the children, there is not a problem.
B. execute the order for all clients as required by Standard Ⅲ (B), Fair Dealing.
C. do none of the actions listed here.