Level-1-CFA-Exam ESG Investing 問題練習

Question No : 1
In the ESG rating process, an assessment of risk, policies, and preparedness is best categorized as part of a(n):

• A.operational assessment.
• B.fundamental assessment.
• C.disclosure-based assessment.

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Question No : 2
Which of the following is most likely a secondary source of ESG information?

• A.Annual reports
• B.ESG rating reports
• C.Corporate sustainability reports

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Question No : 3
In Australia, a managing director of a company is the:

• A.executive chair.
• B.only executive director.
• C.former CEO of the company.

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Question No : 4
Formal corporate governance codes are most likely to:

• A.be found in all major world markets.
• B.call for serious consequences for non-compliant organizations.
• C.be interpreted by proxy advisory firms when corporate compliance is assessed.

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Question No : 5
The EU Paris-Aligned Benchmarks and EU Climate Transition Benchmarks both:

• A.prohibit investments in fossil fuels.
• B.impose green-to-brown ratios to restrict “brown" investments.
• C.use a relative approach by comparing a company’s performance to its sector average.

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Question No : 6
Negative screening for ESG factors in portfolios:

• A.results in static exclusions.
• B.can exclude an entire country.
• C.is commonly applied to all asset classes.

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Question No : 7
A hurdle to adopting ESG investing is most likely a:

• A.lack of suitable benchmarks.
• B.focus on short-term performance.
• C.lack of options outside of equities.

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Question No : 8
Organizing companies according to their sustainability attributes, such as resource intensity, sustainability risks, and innovation opportunities, best describes the:

• A.Morningstar sustainability rating.
• B.Sustainable Industry Classification System (SICS).
• C.Task Force on Climate-related Financial Disclosures (TCFD).

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Question No : 9
Which of the following would most likely see its estimate of intrinsic value increased by analysts?

• A.A company with high climate-related risk
• B.A company facing significant environmental regulations
• C.A company having launched a service that reduces customers’ electricity usage

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Question No : 10
In response to policy changes, several of the world’s largest automakers made pledges to halt producing cars with internal combustion engines by 2035.
Which of the following would an asset manager most appropriately use to address this trend?

• A.Factor risk asset allocation model
• B.Liability-driven asset allocation model
• C.Regime switching asset allocation model

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Question No : 11
In which of the following circumstances is Free, Prior, and Informed Consent (FPIC) most applicable?

• A.Members agreeing to a social media platform’s privacy policy
• B.Company constructing a fish farm next to a native waterfront community
• C.Governments passing international standards against forced labor practices

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Question No : 12
Company reporting and transparency are led by the:

• A.board
• B.auditor
• C.management team

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Question No : 13
Which of the following is one of the five main drivers of nature change described by the Taskforce on Nature-related Financial Disclosures (TNFD)?

• A.Ecosystem services
• B.Invasive alien species
• C.Transmission channels

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Question No : 14
A materiality assessment to identify ESG issues impacting a company's financial performance is most likely measured in terms of:

• A.likelihood only.
• B.magnitude of impact only.
• C.both likelihood and magnitude of impact.

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Question No : 15
Which of the following projects are most likely to be financed in the green bond market?

• A.Real estate projects
• B.Manufacturing projects
• C.Communications technology projects

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