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CFA Level I · CFA Level I Exam · Guidance for Standard II: Integrity of Capital Markets

According to the CFA Institute's view of ethics, society and the capital markets, the phrase "for the ultimate benefit of society" in the CFA Institute mission is best described as reflecting a goal of:

The phrase reflects a goal of a socially, politically and financially stable society in which efficient global capital markets direct capital to its most beneficial uses, funding goods, services, innovation and jobs. It is not about charterholder returns or replacing local regulation.

  1. Amaximizing returns for CFA charterholders
  2. Ba stable society supported by capital markets that allocate resources efficientlyCorrect
  3. Creplacing local regulation with CFA Institute rules

Explanation

The mission stresses a socially, politically and financially stable society, helped by capital markets that move capital to where it most benefits society. It does not aim to maximize charterholder returns, and it does not seek to replace regulation.

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