매달, 우리는 1000명 이상의 사람들이 시험 준비를 잘하고 시험을 잘 통과할 수 있도록 도와줍니다.
Sustainable Investing Certificate(CFA-SIC) Exam 온라인 연습
최종 업데이트 시간: 2025년08월07일
당신은 온라인 연습 문제를 통해 Level-1-CFA-Exam Sustainable Investing 시험지식에 대해 자신이 어떻게 알고 있는지 파악한 후 시험 참가 신청 여부를 결정할 수 있다.
시험을 100% 합격하고 시험 준비 시간을 35% 절약하기를 바라며 Sustainable Investing 덤프 (최신 실제 시험 문제)를 사용 선택하여 현재 최신 712개의 시험 문제와 답을 포함하십시오.
정답:
Explanation:
The Corporate Sustainability Reporting Directive (CSRD) is a European Union (EU) directive that mandates enhanced and standardized sustainability reporting for companies. It aims to improve the quality and consistency of sustainability information disclosed by companies, which is essential for investors and other stakeholders to make informed decisions.
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Explanation:
Relevance of Anti-Corruption Laws:
Anti-corruption laws are particularly relevant for investments in sovereign debt as they reflect the governance quality of a country.
Sovereign Debt Governance:
Investors in sovereign debt are concerned with the overall governance and robustness of state institutions.
Effective anti-corruption measures are critical for maintaining political stability, regulatory quality, and rule of law, all of which affect the creditworthiness of sovereign debt.
Application to Other Investments:
While private equity and infrastructure assets are also impacted by governance factors, anti-corruption laws are more directly tied to the governance quality of states, making them most relevant for sovereign debt investors.
References:
The importance of anti-corruption laws in sovereign debt investments is discussed in the final ESG investing documentation.
정답:
Explanation:
Surface Water Usage:
Using surface water in business activities directly affects the local ecosystem and biodiversity.
It can alter water levels, temperature, and flow patterns, impacting aquatic life and surrounding habitats.
Direct Impact Characteristics:
Direct impacts are those that occur as a direct result of the company’s operations.
For example, drawing water from a river for industrial use can reduce water availability for fish and other aquatic organisms.
CFA ESG Investing
Reference: The Global Reporting Initiative (GRI) outlines that activities such as using surface water directly affect biodiversity, making it a direct impact.
정답:
Explanation:
The Taskforce on Nature-related Financial Disclosures (TNFD) identifies invasive alien species as one of the five main drivers of nature change. These species can significantly disrupt ecosystems, outcompete native species, and lead to biodiversity loss. Understanding and managing the impact of invasive alien species is crucial for maintaining ecosystem health and resilience.
정답:
Explanation:
Negative screening in ESG portfolios involves excluding certain sectors, companies, or countries based on specific ethical guidelines or ESG criteria. This approach can result in the exclusion of entire countries if they do not meet the predefined ESG standards. For example, countries with poor human rights records, high levels of corruption, or severe environmental degradation might be excluded from investment portfolios to align with investors' ESG objectives.
정답:
Explanation:
EU Taxonomy for Sustainable Activities:
The EU Taxonomy for Sustainable Activities is a classification system establishing a list of environmentally sustainable economic activities. It includes criteria to determine whether an activity substantially contributes to environmental objectives, does no significant harm to any of these objectives, and complies with minimum safeguards.
정답:
Explanation:
Escalation of engagement refers to increasingly assertive actions taken by investors to address issues with investee companies that have not been resolved through initial engagement efforts.
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Explanation:
When integrating ESG analysis into the investment process, deriving correlations on how ESG factors might impact financial performance over time is an example of a systematic approach. This approach involves incorporating ESG data into financial models and investment strategies in a structured and consistent manner. It enables investors to systematically assess the impact of ESG factors on financial performance and make informed investment decisions based on these insights.
정답:
Explanation:
Triple Bottom Line Accounting Theory:
Triple Bottom Line (TBL) accounting theory expands the traditional reporting framework to include ecological and social performance in addition to financial performance. This approach was introduced by John Elkington in 1994 to measure the sustainability and societal impact of an organization.
정답:
Explanation:
Effective Engagement Strategies:
For engagement to be meaningful and cost-effective, investors need to prioritize and identify which companies in their portfolio require the most attention.
Targeted Engagement:
By focusing on the companies most in need of engagement, investors can allocate their resources more efficiently.
This targeted approach helps in addressing significant ESG risks and opportunities that can materially impact the company’s performance.
Broader Discussion:
While it is important to frame the engagement topic within the company’s broader strategy, discussing long-term financial performance and risks is crucial for holistic engagement.
References:
Identifying the company most in need of engagement is a recommended strategy in the 2021 ESG investing documentation.
정답:
Explanation:
Statement I - Capital Intensive:
Wastewater treatment plants require significant upfront investment for construction and infrastructure.
This makes them highly capital intensive projects.
Statement II - Difficult to Maintain:
The operation and maintenance of wastewater treatment plants involve complex processes and specialized skills.
This adds to the difficulty and cost of maintaining these facilities.
Verification:
Both statements are correct as they describe the significant financial and operational challenges associated with wastewater treatment plants.
CFA ESG Investing
정답:
Explanation:
Issue-based engagement is most closely aligned with passive investments. Passive investors, who typically hold broadly diversified portfolios, often focus on specific ESG issues that affect multiple companies across sectors. They may engage with companies on these issues through collaborative initiatives or voting on shareholder resolutions, rather than engaging deeply with individual companies, which is more characteristic of active investment strategies.
정답:
Explanation:
Step 1: Understanding EU Paris-Aligned and Climate Transition Benchmarks
The EU Paris-Aligned Benchmarks (PAB) and EU Climate Transition Benchmarks (CTB) were established to help investors align their portfolios with the Paris Agreement goals. They aim to guide investments towards a low-carbon economy and provide standards for climate-related financial products.
Step 2: Key Characteristics of the Benchmarks
Paris-Aligned Benchmark (PAB): Designed to align with a 1.5°C temperature rise scenario.
Climate Transition Benchmark (CTB): Allows for a broader alignment with climate transition objectives, aiming for a less stringent pathway than the PAB.
Step 3: Common Features
Both benchmarks:
Require reductions in carbon intensity compared to a standard benchmark.
Aim to support the transition towards a low-carbon economy.
Use a sector-relative approach, meaning companies’ performances are compared to their sector averages to account for differences in sectoral emission profiles.
Step 4: Verification with ESG Investing References
Both the EU PAB and CTB use a relative approach to compare a company's performance to its sector average, ensuring that high-emission sectors still contribute to the transition: "These benchmarks use sector-relative decarbonization approaches, comparing companies within the same sector to ensure fair and achievable targets across different industries".
Conclusion: The EU Paris-Aligned Benchmarks and EU Climate Transition Benchmarks both use a relative approach by comparing a company's performance to its sector average.
정답:
Explanation:
p 1: Definitions and Concepts
Blue Bond: A bond specifically designed to support marine and ocean-based projects, such as sustainable fisheries, coral reef restoration, and wastewater treatment to protect water resources.
Green Bond: A bond issued to raise funds for new and existing projects with environmental benefits, including renewable energy projects like solar farms, wind energy, and other sustainability projects.
Transition Bond: A bond issued to support companies in transitioning their operations towards more sustainable practices. These bonds often support companies that are moving from high carbon-intensive activities to lower carbon-intensive practices.
Step 2: Characteristics and Use Cases
Blue Bond: Focuses on aquatic ecosystems.
Green Bond: Focuses on a wide range of environmental projects, including renewable energy, energy efficiency, sustainable agriculture, and pollution prevention.
Transition Bond: Typically used by companies in carbon-intensive industries to finance their transition to greener operations.
Step 3: Application to Solar Farm Financing
A bond issued to finance the construction of a solar farm falls under the category of a green bond. This is because:
Solar farms are renewable energy projects.
Green bonds are specifically designed to fund projects that provide clear environmental benefits.
Step 4: Verification with ESG Investing References
Green bonds are explicitly used to finance projects that have positive environmental impacts, such as renewable energy projects. As per ESG investing documents: "Green bonds support projects with environmental benefits, including renewable energy projects such as solar and wind farms".
Conclusion: A bond issued to finance the construction of a solar farm is an example of a green bond due to its environmental benefits and alignment with sustainable finance principles.
정답:
Explanation:
Increased investment crowding into more ESG-friendly sectors is most likely to increase valuations. As more investors seek to allocate capital to sectors or companies with strong ESG performance, the demand for these investments rises, which can drive up their market prices and, consequently, their valuations. This trend reflects the growing recognition of the long-term value associated with sustainable business practices.
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