- CFA Exams
- CFA Level I Exam
- Topic 10. Ethical and Professional Standards
- Learning Module 70. Code of Ethics and Standards of Professional Conduct
- Subject 2. The Six Components of the Code of Ethics
CFA Practice Question
Which of the following are NOT explicitly addressed in the Code of Ethics?
A. Competence
B. Professionalism
C. Fiduciary Duty
User Contributed Comments 13
| User | Comment |
|---|---|
| RealEduardo | Distinguish between Code of Ethics and Standard of Practice handbook |
| jacoby | I disagree... professionalism and competence are explicitly in the code of ethics. Fid. Duty is not |
| zhik | By the code of Ethics, it is referring to Memebers of the CFA Institute SHALL: 1. Act with integrity, competence, dignity... 2. |
| MGM13 | True. FD is not explicit in C of E. |
| danlan | Agree with MGM13. |
| Shelton | Integrity, (professional) Competence, Dignity, Respect, Reasonable Care, (independent) Professionalism |
| brimann | III. Duties To Clients A. Loyalty, Prudence, and Care. In relationships with clients, Members and Candidates must determine applicable FIDUCIARY DUTY and must comply with such duty to persons and interest to whom it is owed. We can bicker over "explicitly" but fiduciary duty IS address in the CoE. |
| surob | I would say Brimann is right, but indeed concerned it is not explicitly mentioned in CoE |
| RNAN | Certainly FD is at the heart of any activity in the investment business that involves clients. This question is perhaps using too fine a comb to trip us up. I guess that is why such a simple looking question has a rating for Difficulty: of Difficult. |
| achu | Brimann references the STANDARDS , not the code of ethics. |
| octavianus | You're right achu |
| TammTamm | Wow! I missed this one because I was thinking of SOP intead of COE specifically. |
| heinzlive | Right, in the code of Ethics, Fiduciary Duty is not mentioned but professionalism as a word either, only in the last sentence "...improve their professional competence.." |