CFA Level I Guidance for Standards I–VII question

Guidance for Standards I–VII sample question

Choose an answer before revealing the explanation, key takeaway, and answer-choice review.

Ethical and Professional Standards

Guidance for Standards I–VII

Wealth adviser Tomás Rebelo drafts three sentences for client communications. Statement 1: 'This Treasury bill, if held to maturity, will pay its stated face value, an obligation backed by the full faith and credit of the national government.' Statement 2: 'Based on our track record, this equity strategy will return at least 9% next year.' Statement 3: 'Clients in our balanced program have never experienced a losing month, and that will continue.' Which statement is least likely to violate Standard I(C) Misrepresentation?