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FRM Part I · FRM Exam Part I · GARP Code of Conduct

Which of the following best identifies the broad categories of principles that the GARP Code of Conduct is organised around?

The Code is organised around principles of professional integrity and ethical conduct, conflicts of interest, and fundamental responsibilities and standards, including confidentiality and maintaining professional knowledge. The other lists describe pricing, prudential regulation or audit topics, which are not the Code's organising framework.

  1. APricing, hedging, valuation and settlement
  2. BProfessional integrity and ethical conduct, conflicts of interest, and fundamental responsibilities and standards such as confidentiality and knowledgeCorrect
  3. CCapital adequacy, liquidity, leverage and disclosure
  4. DAudit independence, tax compliance, reporting and internal control

Explanation

The Code is structured around principles of professional integrity and ethical conduct, conflicts of interest, and confidentiality, along with fundamental responsibilities and standards. The other options describe technical, prudential or audit topics outside the Code's structure.

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