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(C) Referral Fees practice questions
Standard VI(C) Referral Fees 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 3 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(C) Referral Fees
An adviser receives free software from a broker for referring clients and does NOT tell clients. The adviser most likely violates:
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Standard VI(C) Referral Fees
An adviser receives 8% of a tax specialist's first-year fee for each referred client. The adviser believes the specialist is competent. The adviser should disclose the arrangement:
View sampleEthical and Professional Standards
Standard VI(C) Referral Fees
An adviser recommends a tax specialist to clients. The specialist gives the adviser free office space for every five clients referred. The adviser believes no disclosure is needed because no cash changes hands and clients pay the specialist directly. The adviser most likely violates:
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