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

The Handbook describes the Code and Standards as serving as a model for measuring the ethics of investment professionals globally. This model is most accurately described as applying:

The Code and Standards serve as a model for measuring ethics of investment professionals globally regardless of job function, cultural differences, or local laws and regulations. They are not limited to portfolio managers or to places where local law is weaker.

  1. Aregardless of job function, cultural differences, or local laws and regulationsCorrect
  2. Bonly where local laws are less strict than the Code and Standards
  3. Conly to professionals whose job function involves managing client portfolios

Explanation

The Preamble states that the Code and Standards have served as a model for measuring ethics globally regardless of job function, cultural differences, or local laws and regulations. The other options add restrictions that the text does not contain.

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