Phases Of the Business Cycle：peak,is declining.

Definitions of Money：entire range of liquid assets that can be used to make purchases.

Deficits and the National Debt：Budget;Government revenue includes tax revenues net of transfer payments;An increase in a budget surplus would be associated with contractionary fiscal policy:uses.

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

What’s the main idea of referral fee?：consideration,others for the recommendation of products or services. （他人支付或者向他人支付的介紹費(fèi)，應(yīng)向雇主、客戶、潛在雇主披露）;

How to understand the meaning of misrepresentation?：advertising,書面報(bào)告即使沒有發(fā)布也不行）”tablesstatisticsMay use other people’s work within the same firm without committing a violation. （同一公司的報(bào)告不用引用）

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 responsibility of supervisors?：does not relieve them of their supervisory responsibility. （可以轉(zhuǎn)委托他人監(jiān)管，但必須指示明確且對(duì)轉(zhuǎn)委托負(fù)責(zé)）,應(yīng)拒絕承擔(dān)監(jiān)管者責(zé)任）,

What's the meaning of “Additional compensation”?：their employer’s interest （該準(zhǔn)則約束的是,如果收取相關(guān)好處：會(huì)影響雇主利益的情況）unless they obtain written consent from all parties involve.，CFA

What's the meaning of independence and objectivity in professionalism?：or consideration that reasonably could be expected to compromise their own or another’s independence and objectivity.（那些被合理認(rèn)為將會(huì)影響?yīng)毩⒖陀^的威逼利誘都要不為所動(dòng)）,但在他人眼中會(huì)影響?yīng)毩⑿砸膊恍校┛赡艿脑捠孪扰督o雇主告訴雇主是為了引起雇主的同意

What's the meaning of “market manipulation”?：distort prices or artificially inflate trading volume （扭曲價(jià)格、虛增交易量）:with the intent tomisleadmarket participants. （目的是誤導(dǎo)投資者）:如果達(dá)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(chǎng)操縱準(zhǔn)則）

How to understand the Code of ethics and trust in the investment profession?：I,Professionalism:II:IIIIVVVIVIIResponsibilities as a CFA member or candidate