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CFA Level I · CFA Level I Exam · Ethics and Trust in the Investment Profession

According to the CFA Institute's view of ethics, society, and the capital markets, the phrase "for the ultimate benefit of society" in its mission is most likely intended to emphasize that well-functioning global capital markets:

The phrase highlights that efficient global capital markets allocate resources so capital reaches the places where it most benefits society, funding goods and services, innovation and jobs, and raising living standards. It does not promise returns to members or replace regulation.

  1. Aguarantee higher returns to members of CFA Institute
  2. Bdirect available capital to the places where it most benefits societyCorrect
  3. Creplace regulation with voluntary professional standards

Explanation

The official text states that efficient global capital markets allow capital to find its way to places where it most benefits society, funding goods, services, innovation and jobs. Option A is not claimed, and the text says ethics complements rather than replaces laws and regulations.

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