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

Portfolio manager Kirsten Vollan receives two offers in the same week. A longstanding pension client, pleased with last year's results, sends her a case of mid-priced wine as a thank-you gift. Separately, a broker competing for the firm's order flow offers her an all-expenses-paid weekend at a coastal resort. Her firm requires that all gifts be disclosed but does NOT prohibit them. Which response by Vollan is most consistent with Standard I(B) Independence and Objectivity?