Foreign Exchange Market Participants：i.e.;buy FX products from the sell-side banks.:all other banks.

Identification of Market Structure – Concentration Ratio：the sum of the market;Advantage:simple to:The industry’sfour-companyconcentration ratiois closest to150300 + 250 + 200 + 150 + 100 + 50 = 9001050 = 86%.

Identification of Market Structure – Econometric Method：Estimate the elasticityof demand and supply.;cross-sectional

Cournot Assumption in Oligopoly Market：The Cournot solution falls betweenthe competitive equilibrium and the monopoly solution.

Open market operations：rate for these reserves.

Collusion in Oligopoly Market：reduced cash flow uncertainty:frequency.competition.collusion.

Analysis of Market Structure：2 The degree of product differentiation;4 The relative strength of the barriers to market entry and exit:monopoly.A[PracticeC.B

What are the responsibilities of the members in reference to the CFA Institute?：Once accepted as a member:每年交述職報告和年費but must not over promise the competency and future investment results.Case

What members and candidates should notice in CFA examinations?：or security of the CFA examinations.（不能惡心CFA），考試不能作弊:考試內(nèi)容要保密:A. No.:Responsibilities as a CFA Institute Member.right④Case

What aspect is loyalty embodied?：Should abstain from independent competitive activity that could conflict with the interests of their employer.:（從事獨立業(yè)務(wù)需要向雇主披露并獲得雇主同意）:Misappropriation of trade secrets（盜竊交易秘密）

What are the ethics and trust in the investment profession？：Global investment performance standards（GIPS）= 比例低，也并非所有的不道德都是違法君子有所不為的決策是更好的決策更符合stakeholder利益的決策

What's the meaning of “market manipulation”?：distort prices or artificially inflate trading volume （扭曲價格、虛增交易量）:with the intent tomisleadmarket participants. （目的是誤導(dǎo)投資者）:如果達到一定的交易量可以減少傭金如果這種利益歸屬于客戶且披露了沒有違反市場操縱準則）