CFA Practice Question

There are 361 practice questions for this study session.

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...
MGM13 True. FD is not explicit in C of E.
danlan Agree with MGM13.
Shelton Integrity,
(professional) Competence,
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.."
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