The Leader in CFA® Review
  1. CFA Exam: June 2020 Level I
  2. Study Session 1. Ethical and Professional Standards
  3. Reading 1. Ethics and Trust in the Investment Profession
  4. Subject 2. Ethics and Professionalism
  5. Practice Question
Basic Question
The CFA Institute Code and Standards are an example of ______ standards.

A. rule-based
B. principle-based
C. action-based

Correct Answer: B

Principle-based standards apply to all members of the community or organization at all times.

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