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CFA Level I · CFA Level I Exam · Guidance for Standard I: Professionalism

An analyst with no supervisory responsibility asks whether Standard I(A) requires detailed knowledge of employment law. Which response is most accurate?

Detailed knowledge is required only of laws directly relating to the analyst's professional responsibilities. Standard I(A) does not require members to be experts on every law that could govern their activities, and a non-supervisory employee may not need detailed employment law knowledge.

  1. AYes, every member must be an expert in all laws that could potentially govern their activities.
  2. BYes, because employment law is part of the Code and Standards for every member.
  3. CNo, detailed knowledge is required only of laws that directly relate to the analyst's professional responsibilities.Correct

Explanation

The guidance says members need not be experts on all laws that could govern their activities, but must know and comply with laws directly related to their professional responsibility. A non-supervisory employee may not need detailed employment law knowledge, whereas a manager overseeing many employees might.

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