Back to Ethical and Professional Standards

Practice Questions

Ethical and Professional Standards — 5 questions with detailed solutions

Q1

A portfolio manager receives a gift of expensive wine from a client after generating strong returns. According to the CFA Institute Standards, the manager should most appropriately:

Q2

An analyst discovers that her firm's compliance procedures do not meet the requirements of the CFA Institute Standards. She should most appropriately:

Q3

Under GIPS, a firm that claims compliance must include all actual, fee-paying, discretionary portfolios in at least one composite. This requirement ensures:

Q4

A CFA charterholder changes jobs and wants to take detailed client records from her previous employer to her new firm. This action most likely violates:

Q5

Which of the following is least likely a requirement for GIPS compliance?