CFA Level I Ethics Conflicts MCQs Test 4

General3 MCQs

1. What does Standard VI(B) Priority of Transactions require?

A. Allows members to prioritize their own transactions over client transactions.B. Requires that employer transactions take priority over client transactions.C. Requires that client transactions take priority over transactions for own accounts or employer accounts.D. Requires that all transactions be treated equally regardless of the account.

2. What does Standard VI(C) Referral Fees require?

A. Only disclose referral fees to clients.B. Referral fees do not need to be disclosed.C. Only disclose referral fees to employers.D. Disclose to employer, clients, and prospective clients any compensation received from or paid to others for recommendations.

General3 MCQs

3. What does Standard VI(A) require regarding disclosure of matters that could impair independence?

A. Make full and fair disclosure of all matters that could reasonably be expected to impair independence and objectivity.B. Only disclose matters that actually impair independence.C. Choose which matters to disclose.D. Disclosure is optional.

CFA Level I Ethics Conflicts MCQs Test 4

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