CFA Practice Question

There are 361 practice questions for this study session.

CFA Practice Question

The Standards clearly prohibit trading for yourself in advance of your clients. You are working in a country where this is common practice and is not illegal.

A. The Standards allow you to follow local practices if they are not illegal.
B. The Standards allow this practice only if approved by a supervisor.
C. The Standards take precedence over local practice and prohibit you from such trading.
Correct Answer: C

User Contributed Comments 10

User Comment
Haiqing the standards prohibit, then prohibit....
katybo rule of thumb
kaliokale easy one
sarath Thanks god ...at least one easy one...
ebere I am satisfied that I located this site.
rufi this is very good for IBs doing business in low tier nations
TammTamm Makes sense.
bantoo It is not that easy as B also seems a good choice. However, if law of nation allows this then there is no need to disclose to supervisor. So C is correct answer
StephanieG Remember the order of precedence- Client, Employer then you in terms of interests being served.
SAYAN12 AGREE WITH ebere
You need to log in first to add your comment.