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Basic Question 1 of 6
To prevent situations from arising that could be perceived as influencing your independence, you should follow the following policies:
B. Do not engage in conduct involving dishonesty, fraud, deceit, and misrepresentations.
C. Limit gifts, pay your own travel costs, and disclose all special corporate relationships.
A. Beneficiaries of a pension fund are an analyst's primary responsibility, not the fund sponsors.
B. Do not engage in conduct involving dishonesty, fraud, deceit, and misrepresentations.
C. Limit gifts, pay your own travel costs, and disclose all special corporate relationships.
User Contributed Comments 10
| User | Comment |
|---|---|
| isida | shouldn't the answer be all choices??? |
| LogicMan | No since A and B are not related. |
| sharon | It's about INDEPENDENCE. |
| 0is4eva | Tricky question. Every line in the question must be read carefully. Key word: "...influencing your independence...". Standard II B: "...use reasonable care... maintain independence... ...not offer, solicit, accept any gift, benefit... could be expected to compromise... independence and objectivity." The answers listed in A and B are not related to the "independence concept" and are therefore not eligible. |
| lilbut | so where does a and b fall under? |
| CFAMarco | A under duties to clients and B under profesionalism. I think. |
| copus | tricky question...I also thought that all three were correct but upon closer reading, I realized that I had flubbed it big time! |
| bantoo | Read the code Ib.A is not related to question and option b is Id. so C is the correct answer |
| sshetty2 | key words here i think is Best Course of action. If you have the option to pay for it yourself that would likely be the most ethical way of completing the valuation |
| DrewEB86 | Doesn't the standard stipulate you shouldn't be accepting gifts? This says LIMIT gifts? That's what threw me... |
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
demonstrate the application of the Code of Ethics and Standards of Professional Conduct to situations involving issues of professional integrity
recommend practices and procedures designed to prevent violations of the Code of Ethics and Standards of Professional Conduct
identify conduct that conforms to the Code and Standards and conduct that violates the Code and Standards
CFA® 2025 Level I Curriculum, Volume 6, Module 3.