CFA Practice Question

There are 291 practice questions for this study session.

CFA Practice Question

Ava Lee works in Morestrict country. Ava has been posted to New York to work for a local client. She is an avid baseball fan and the client who is happy with her performance offers her a ticket to a World Series game. Ava informs her employer in writing about the gift and obtains her employer's consent. Morestrict law says that an employee may not accept even small gifts from clients, even with employer's consent. Morestrict law also says that the law of the client's home country governs. Ava has:

A. violated Standard 1 (B) Independence and Objectivity.
B. violated Standard 1 (A) Knowledge of the Law.
C. not violated the Standards.
Correct Answer: C

In this situation, the strictest of Standards and New York laws apply. She is employed (posted) in New York, so Morestrict law is not relevant.

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