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Basic Question 5 of 8

During a presentation to prospective clients Pappy Peters says 'If you invest your money with us, you will receive 14% annual returns, no problem.' Pappy has indeed delivered 17% returns the prior year, but over the last 5 years the return has averaged only 15%.

A. Pappy has not violated the Standards.
B. Pappy has only violated Standard III (C) Suitability.
C. Pappy has only violated Standard III (D) Performance Presentation.

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You have a wonderful website and definitely should take some credit for your members' outstanding grades.
Colin Sampaleanu

Colin Sampaleanu

Learning Outcome Statements

evaluate practices, policies, and conduct relative to the CFA Institute Code of Ethics and Standards of Professional Conduct;

explain how the practices, policies, and conduct do or do not violate the CFA Institute Code of Ethics and Standards of Professional Conduct.

CFA® 2025 Level II Curriculum, Volume 6, Module 45.