Ethical and Professional Standards

Code of Ethics and Standards of Professional Conduct practice questions

Code of Ethics and Standards of Professional Conduct is part of CFA Level I Ethical and Professional Standards. Ethics questions test judgment under the Code and Standards, especially duties to clients, employers, markets, and the CFA Program. Use this page to review the controlling ideas, then work through 4 questions with answer explanations and common traps.

Review the worked explanations before moving into adaptive practice. The app version can mix this topic with due reviews and weak related concepts.

Practice this topic

What to know

Identify the rule, formula, or decision criterion before reading the answer choices. CFA Level I distractors often use the right vocabulary with the wrong condition.

How to practice

Work each item under time pressure, then compare your reasoning with the step-by-step explanation and key takeaway.

Review signal

Missed questions should become scheduled reviews when the error comes from a concept gap, formula setup, or answer-choice trap.

Easy

Ethical and Professional Standards

Code of Ethics and Standards of Professional Conduct

Which of the following requirements is most likely a component of the CFA Institute Code of Ethics rather than of the Standards of Professional Conduct?

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Moderate

Ethical and Professional Standards

Code of Ethics and Standards of Professional Conduct

After a Professional Conduct investigation and hearing, Beatriz Campos, a charterholder, is found to have violated the Standards of Professional Conduct. Which sanction is CFA Institute most likely able to impose on Campos?

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Moderate

Ethical and Professional Standards

Code of Ethics and Standards of Professional Conduct

The chief compliance officer of Helvest Partners wants the firm to adopt the CFA Institute Code and Standards and to publicize this in its marketing materials. Which draft statement is most appropriate for the materials?

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Very Difficult

Ethical and Professional Standards

Code of Ethics and Standards of Professional Conduct

CFA Institute Professional Conduct staff complete an investigation of charterholder Quentin Asare and propose a sanction of public censure. Asare is convinced the finding is wrong, rejects the proposed sanction, and assumes the matter must now be dropped because staff cannot force him to accept it. The most likely consequence of his rejection is that:

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