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.
Ethical and Professional Standards
Standard VI(B) Priority practice questions
Standard VI(B) Priority 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 2 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 topicHow 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.
Ethical and Professional Standards
Standard VI(B) Priority
A portfolio manager buys shares for his spouse's account before filling client orders for the same security. The spouse's account is beneficially owned by the manager. The most direct violation is:
View sampleEthical and Professional Standards
Standard VI(B) Priority
A manager decides to buy shares for suitable client accounts, then first buys a small amount for his child's education account hoping to give clients the same average price later. The conduct most likely violates:
View sample