土豆妮

Which of the following is NOT part of the CFA Institute Code of Ethics. Members of CFA Institute will:

A) recommend investments that maximize returns for a given level of risk.

B) use reasonable care and exercise independent professional judgment.

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

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Standard of Professional Conduct III(C), not the Code of Ethics, requires that investments be appropriate and suitable.

土豆妮

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.

土豆妮

According to the Code of Ethics, when practicing in a professional and ethical manner the goal is to:

A) reflect credit on members and the profession.

B) increase membership in CFA Institute.

C) resolve conflicts between clients and employers.

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The Code states that a member shall “Practice and encourage others to practice in a professional and ethical manner that will reflect credit on members and their profession.”

土豆妮

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

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

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

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.