cfalevel1QB

According to the Code of Ethics, the professional judgment of a member should be:

A) guided by the SEC guidelines.

B) dependent on that of his/her colleagues.

C) independent.

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The Code of Ethics states that the CFA Institute member shall “Use reasonable care and exercise independent professional judgment.” None of the other answers resemble anything in the Code.

cfalevel1QB

According to the Code of Ethics, which of the following statements is NOT correct? CFA Institute members are required to:

A) use reasonable care and exercise independent professional judgment.

B) maintain and improve their competence and strive to maintain the competence of others in the profession.

C) comply with the CFA Institute Performance Presentation Standards.

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The CFA Institute-PPS are voluntary standards for the industry. Firms are not required to comply with these standards when presenting performance. The other statements are each components of the CFA Institute Code of Ethics.

cfalevel1QB

Which of the following is NOT part of the CFA Institute Code of Ethics?

A) Independent judgment.

B) Competence.

C) Contractual provisions.

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Contractual provisions are not part of the Code of Ethics.

cfalevel1QB

The first component of the Code of Ethics does NOT explicitly say that a CFA Institute member will act in a certain manner with respect to which of the following groups?

A) The SEC.

B) Colleagues in the investment profession.

C) The public.

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The SEC is not mentioned in the Code of Ethics. Component one mentions duties to the public, clients, prospects, employers, employees, colleagues, and other participants in the global capital markets.

hinsafdar

In accordance with Standard III (A) Loyalty, Prudence and Care, which of the following statements is least accurate? Members and Candidates should:

A) utilize client brokerage to the sole benefit of the client.

B) vote all proxies on behalf of clients in a responsible manner.

C) submit to clients, at least quarterly, itemized statements detailing all of the period’s transactions.

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Because of the time and expense involved in voting a proxy, Members and Candidates are not required to vote every proxy. A cost benefit analysis can be performed to determine if it is necessary to vote a proxy.

hinsafdar

Which of the following activities would be following a component of the Code of Ethics explicitly?

A) Consulting with colleagues about opinions you reach in your research.

B) Attending continuing education seminars on investing and inviting colleagues to come along.

C) Maintaining a list of colleagues who have violated the CFA Institute standards.

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The Code states that a member shall “Maintain and improve their professional competence and strive to maintain and improve the competence of other investment professionals.” None of the other answers qualify.

hinsafdar

According to the Code of Ethics, the professional judgment of a member should be:

A) independent.

B) guided by the SEC guidelines.

C) dependent on that of his/her colleagues.

---

The Code of Ethics states that the CFA Institute member shall “Use reasonable care and exercise independent professional judgment.” None of the other answers resemble anything in the Code.

hinsafdar

According to the Code of Ethics, which of the following statements is NOT correct? CFA Institute members are required to:

A) use reasonable care and exercise independent professional judgment.

B) comply with the CFA Institute Performance Presentation Standards.

C) maintain and improve their competence and strive to maintain the competence of others in the profession.

---

The CFA Institute-PPS are voluntary standards for the industry. Firms are not required to comply with these standards when presenting performance. The other statements are each components of the CFA Institute Code of Ethics.

hinsafdar

Which of the following is NOT part of the CFA Institute Code of Ethics?

A) Independent judgment.

B) Competence.

C) Contractual provisions.

---

Contractual provisions are not part of the Code of Ethics.

hinsafdar

The first component of the Code of Ethics does NOT explicitly say that a CFA Institute member will act in a certain manner with respect to which of the following groups?

A) The SEC.

B) Colleagues in the investment profession.

C) The public.

---

The SEC is not mentioned in the Code of Ethics. Component one mentions duties to the public, clients, prospects, employers, employees, colleagues, and other participants in the global capital markets.