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Basic Question 1 of 6
The CFA Institute's Code of Ethics specifically addresses all of the following EXCEPT ______.
B. integrity and respect
C. the importance of contractual obligations
A. competence and independent judgment
B. integrity and respect
C. the importance of contractual obligations
User Contributed Comments 23
| User | Comment |
|---|---|
| cheena | it is ethical to keep in mind the contractual obligations as well.why doesnt the code of ethics talk about it then? |
| Mimi | why don't you give CFA Institute a call and ask? |
| Steven | because sometimes contract obligation is in conflict with ethics. |
| Haiqing | i think in this question: A B can find immediately in Code. and C i have't seen, so the answer must be C. |
| Arron | Ethics should be above the contractual obligations |
| baple | ethics has more sanctity in it. There could be contractual obligations which may not be ethical. Ethics refers to high standard of professional practise and execution |
| maverickcfa | i agree with all the comments above |
| mngg | in business ethics should be maintained but contractual obligations cannot be denied. |
| awuzie | contratual obligations are relative |
| mpoki | Ethics is moral principles or it is belief but contractual obligation is a responsibility |
| redders | I think a little common sense goes a long way. |
| kshenoi | a contractual obligation in business is defined by the parties involved allowing latitude in the way business is done, while ethics is universal. |
| Yugo | Ethics above Contractual Obligation |
| jainrajeshv | Contractual Obligation can ask for some unethical step, which should not motivated |
| magicchip | Contractual obligations may or may not be ethical. |
| winniedpooh | for me, contractual obligations is beyond the scope of the code of ethics because contractual obligations are govern by the the state law, therefore, may produce conflict between the two. |
| kforcfa | so RESPECT is the part of ethical code |
| AUAU | It's a typical Q for CFA. |
| johntan1979 | My advice to all candidates: If you intend to finish the entire syllabus i.e. all 67 Readings, skip the comments section, especially if you got the answer right. What you'll commonly see is "Why A?" "Why not B?" "Answer is wrong." "Can someone please explain?" Trust me... it's a waste of time. Only look for useful comments when you got the answer wrong. Those are VERY HELPFUL. Otherwise, skip, skip, skip! |
| funny_val | Guys, read the question. It's asking what the code SPECIFICALLY ADDRESSES. It does not ask you to analyze if contractual obligations should or shouldn't be included in the code, or if they are or aren't ethical. Read for detail. Does the code specifically address contractual obligations? No. That's your answer. Move on. |
| Inaganti6 | @johntan1979. Will do. thank you so much. |
| cfastudypl | johntan1979, very true, thanks. |
| yesitan | @johntan1979 sometimes reading comments is fun, lol. |
I just wanted to share the good news that I passed CFA Level I!!! Thank you for your help - I think the online question bank helped cut the clutter and made a positive difference.
Edward Liu
Learning Outcome Statements
identify the six components of the Code of Ethics and the seven Standards of Professional Conduct
CFA® 2025 Level I Curriculum, Volume 6, Module 2.