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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) obliges him to master employment law in detail. The response most consistent with the guidance is that he:

He need not have detailed knowledge of employment law. The guidance requires knowledge of laws that directly relate to one's professional responsibility, not expertise in every potentially relevant law, and a non-supervisory employee may not need detailed employment law knowledge, unlike a manager.

  1. Amust be an expert on every law that could govern his activities
  2. Bneed not have detailed knowledge of employment law, since it does not directly relate to his responsibilitiesCorrect
  3. Cmust hold detailed employment law knowledge in the same way a division head does

Explanation

The guidance says members need not be experts on all laws that could potentially govern their activities, only those directly relating to their professional responsibility. A non-supervisory employee may not need detailed employment law knowledge, unlike a manager overseeing many employees.

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