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Basic Question 4 of 4
A CFA Candidate purchased a copyrighted CFA exam preparatory study guide from a publisher. Two weeks prior to the exam, the Candidate lost the study guide, so he photocopied a copy that his friend had purchased. According to the Standards of Practice Handbook, did the CFA Candidate most likely violate the CFA Institute Standards of Professional Conduct?
B. No, because he had purchased his own copy.
C. No, because both had purchased their own copies.
A. Yes
B. No, because he had purchased his own copy.
C. No, because both had purchased their own copies.
User Contributed Comments 4
| User | Comment |
|---|---|
| msk500 | I got this wrong for a silly reason. I should have noted the word 'copyright' |
| Jia612 | copy write law? Does this violate the standard I-C as well since it's a misrepresentation. |
| Hermalia | @Jia612: I don' t think this a misrepresentation since no one is claiming the work as their own. |
| tgig | To my knowledge, personal use of a copy of legitimately purchased content is not a violation of copyright law. For example, in the old days when people had music CD's, they were allowed to copy the songs for their personal use, but broke the law if they shared that content with somebody else. I believe that C is correct because both parties lawfully purchased the material, and the copy was only being used for personal use. |
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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.