CFA Level I sample question

CFA Level I Guidance for Standards I–VII question

Ethical and Professional Standards / Guidance for Standards I–VII

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Guidance for Standards I–VII sample question

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Ethical and Professional Standards

Guidance for Standards I–VII

Portfolio manager Dario Conti allocates a heavily oversubscribed IPO pro rata among all suitable client accounts. His parents hold a regular fee-paying discretionary account at the firm for which the IPO is suitable, but Conti excludes their account from the allocation entirely to avoid any appearance of favoritism. Conti's exclusion of the account is most likely:

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