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Basic Question 3 of 4
In one country there are no applicable local laws or stock exchange rules that regulate the use of material nonpublic information. It is ______ for a CFA Institute member to use insider information to trade securities in this market.
B. illegal and unethical
C. legal but unethical
D. ethical but illegal
A. legal and ethical
B. illegal and unethical
C. legal but unethical
D. ethical but illegal
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I am happy to say that I passed! Your study notes certainly helped prepare me for what was the most difficult exam I had ever taken.
Andrea Schildbach
Learning Outcome Statements
compare and contrast ethical standards with legal standards
CFA® 2025 Level I Curriculum, Volume 6, Module 1.