CFA Practice Question

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CFA Practice Question

In terms of CFA Institute's Standards of Professional Conduct per Standard VI (B) Priority of Transactions, when dealing with compliance procedures, which of the following procedures should be included to assist in complying with this standard?

I. defining personal transactions
II. defining investment (This would include any investment, including real estate etc.)
III. establishing control over trading activity
IV. defining clearly prohibited transactions
Correct Answer: I, II and IV only

Compliance procedures designed to assist members in complying with this standard are as follows:
  • define personal transactions
  • define investment; this would include any investment, including real estate, etc.
  • define clearly prohibited transactions
III is a compliance procedure that relates to Standard III (B) Fair Dealing.

User Contributed Comments 4

User Comment
danlan Fair dealing and transaction priority are different.
johntan1979 :(

Don't you all think that there is a very thin line between Fair Dealing and Priority of Transaction?
marianne1 III -Compliance procedure
Baumisa Tricked question
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