CFA Level I · CFA Level I Exam · Guidance for Standard I: Professionalism
Which action by an investment professional most likely shows maintenance of competence consistent with Standard I(E)?
Reading research and training on new instruments before advising clients most likely shows maintenance of competence. Standard I(E) expects members to develop and refine skills throughout their careers as duties change, and it accepts a variety of ways of doing so.
- AReading industry research and training on new instruments before advising clients on them.Correct
- BAttending a single course and never updating skills as duties change.
- CDelegating all analysis of unfamiliar products to junior staff without review.
Explanation
Standard I(E) allows various ways of demonstrating and maintaining competence, and members develop and refine skills throughout their careers. Learning about new instruments before advising on them fits this. A one-time course ignores changing duties, and unreviewed delegation fails to maintain the member's own competence.
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