PRACTICE EXAMS FOR THE CFA® EXAM CFA’ 2013 Level I | Volume 1 KAPLAN) SCHWESERLEVEL I PRACTICE EXAMS — VOLUME 1 Online Resources . How to Use This Book. Exam | Morning Session Afternoon Session . Exam 2 Morning Session Afternoon Session . Exam 3 Morning Session Afternoon Session . 123 153 Exam 1 Answers Morning Session .... Afternoon Session . 183 199 Exam 2 Answers Morning Session Afternoon Session . 1. 216 232 Exam 3 Answers Morning Session Afternoon Session . 247 262Page 2 SCHWESER 2013 CFA LEVEL I PRACTICE EXAMS VOLUME 1 ©2012 Kaplan, Inc. All rights reserved. Published in 2012 by Kaplan Schweser. Printed in the United States of America. ISBN: 978-1-4277-4224-7 | 1-4277-4224-3 PPN: 3200-2864 Ti this book does nor have the hologram with the Kaplan Schweser logo on the back cover it was distributed wiehout permission of Kaplan Schweser, a Division of Kaplan, lnc. and is in direct violation of global copyright laws, Your assistance in pursuing potential violators ofthis law is greatly appreciated. Required CFA Institute disclaimer, “CFA® and Chartered Financial Analyse® are uademarks owned by CFA Insticuce. CFA Insticue (formerly the Association for lavestment Management and Research) docs not endorse, promote, review, of warrant the accuracy ofthe products or services offered by Kaplan Sehweser.” Certain materials contained within chs text are the copyrighted property of CFA Insticure. The following is the copyright disclosure for these materials: “Copyright, 2012, CFA Institute. Reproduced and republished from 2013 Learning Outcome Statements, Level I, Il, and IIT questions from CEA® Program Materials, CFA Institute Standards of Professional Conduct, and CFA Institutes Global Investment Performance Standards with permission from CFA Institut. All Rights Reserved.” ‘These materials may not be copied without written permission from the author. The unauthorized duplication of these notes isa violation of global copyright laws and the CFA Institute Code of Echics. Your assistance in pursuing potential violators of this law is greatly appreciated Disclaimer: Schweser study cools should be used in conjunction with the original readings asset forth by CCEA Instieute in theit 2013 CFA Level I Seudy Guide. The information contained in these Notes covers topics contained in the readings referenced by CFA Institute and is believed to be accurate. However, their accuracy cannot be guaranteed nor is any warranty conveyed 2s to yout ultimate exam success. The authors of the referenced readings have not endorsed or sponsored Schweser study tools ©2012 Kaplan, Inc.