CFA Level I sample question

CFA Level I Standard IV(A) Loyalty question

Ethical and Professional Standards / Standard IV(A) Loyalty

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Standard IV(A) Loyalty sample question

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Ethical and Professional Standards

Standard IV(A) Loyalty

A portfolio manager employed full time at an advisory firm begins managing accounts for two neighbors on weekends for a fee. The services are similar to his employer's services, but the neighbors are NOT firm clients. The manager discloses the arrangement to the neighbors but NOT to his employer. The manager most likely:

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