- CFA Exams
- CFA Level I Exam
- Topic 10. Ethical and Professional Standards
- Learning Module 3. Guidance for Standards I-VII
- Subject 8. Standard III (B) Fair Dealing
CFA Practice Question
Which of the following statements about fair dealing is the LEAST ACCURATE? The standard related to Fair Dealing ______.
B. imposes a duty with respect to both clients and prospective clients
C. pertains to both investment recommendations and investment actions
A. states that members should treat all clients equally
B. imposes a duty with respect to both clients and prospective clients
C. pertains to both investment recommendations and investment actions
Correct Answer: A
This standard states that all clients cannot be treated equally because it is impossible to reach everyone simultaneously and that each client has unique needs and objectives.
User Contributed Comments 4
| User | Comment |
|---|---|
| tbg091789 | fairly > equally |
| msk500 | That was easy. |
| guest | found it tricky. thanks tbg for pointing out fairly > equally = two different words |
| sshetty2 | I would think equally > fairly... equally is just not possible as stated in the LOS review |