- CFA Exams
- CFA Exam: Level II 2021
- Study Session 4. Economics
- Reading 12. Economics of Regulation
- Subject 1. Overview of regulation
CFA Practice Question
Which law defines rights and duties of entities?
B. Substantive law.
C. Procedural law.
A. Judicial law.
B. Substantive law.
C. Procedural law.
Correct Answer: B
A procedural law is the "machinery" for enforcing those rights and duties.
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