Skip to content

CFA Level I · CFA Level I Exam · Code of Ethics and Standards of Professional Conduct

A candidate works in a country with no law governing a particular practice, but the Code and Standards require disclosure of referral fees. The candidate most likely must:

The candidate must follow the Code and Standards and disclose the referral fees. When no law applies or the Code and Standards impose a higher responsibility than the law, members and candidates must adhere to the Code and Standards. Local silence on the issue does not remove the obligation.

  1. Afollow the Code and Standards and disclose the referral feesCorrect
  2. Bfollow local practice since no law requires disclosure
  3. Cseek a regulator's permission before making any disclosure

Explanation

Where there is no applicable law, or the Code and Standards impose a higher degree of responsibility, members and candidates must adhere to the Code and Standards. The Handbook uses referral fee disclosure as its example.

Did you get it right without looking?

One question tells you little. A timed set on Code of Ethics and Standards of Professional Conduct shows your real accuracy, how long you take and where you lose marks.

Practise Code of Ethics and Standards of Professional ConductFree diagnostic mock

More Code of Ethics and Standards of Professional Conduct questions