CFA 2026 Level I Ethics Ethics Code Free Quiz 1

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CFA 2026 Level I Ethics Ethics Code Free Quiz 1

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CFA 2026 Level I Ethics Ethics Code Free Quiz 1

Practice CFA 2026 Level I Ethics MCQs from Ethics Code. Get instant results with Explanation.

General5 MCQs

1. According to the CFA Institute Code of Ethics, members and candidates must:

A. Act with integrity, competence, diligence, and respect in an ethical manner with all market participants.B. Act with integrity and competence only with clients and employers.C. Act with diligence and respect only with clients and prospective clients.D. Act with integrity and in an ethical manner only when dealing with the public.

2. The CFA Institute Code of Ethics requires members and candidates to:

A. Use reasonable care and follow all client instructions without question.B. Use reasonable care and exercise independent professional judgment in all professional activities.C. Exercise independent professional judgment only when making investment recommendations.D. Use reasonable care only when dealing with clients' portfolios.

3. Which of the following is a component of the CFA Institute Code of Ethics?

A. Place the interests of employers above personal interests.B. Place personal interests above the interests of clients.C. Place the integrity of the investment profession and client interests above personal interests.D. Place the interests of colleagues above client interests.

4. What does the CFA Institute Code of Ethics say about professional competence?

A. Maintain professional competence only for the first five years after earning the CFA charter.B. Improve professional competence only when required by employers.C. Maintain professional competence only for candidates, not for charterholders.D. Maintain and improve their professional competence and strive to improve the competence of other investment professionals.

5. According to the CFA Institute Code of Ethics, members and candidates must:

A. Practice and encourage others to practice in a professional and ethical manner that reflects credit on themselves and the profession.B. Practice in a professional manner only when working with clients.C. Encourage ethical behavior only among colleagues in the same firm.D. Reflect credit on themselves only, not on the profession.

General5 MCQs

6. How is the Code of Ethics best defined?

A. A non-binding set of aspirational ideals that members may choose to follow.B. A written set of principles that codify a group's beliefs about mandatory and forbidden conduct.C. A set of rules that applies only to CFA charterholders and not to candidates.D. A document that provides guidance only for investment analysis and not for other professional activities.

7. How many components are there in the CFA Institute Code of Ethics?

A. Three components: integrity, competence, and client interests.B. Four components: integrity, competence, diligence, and fairness.C. Six components including integrity, client interests, reasonable care, professional practice, competence, and encouraging ethical practice.D. Seven components including all of the Standards of Professional Conduct.

8. To whom does the CFA Institute Code of Ethics apply?

A. Only CFA charterholders.B. Only CFA candidates.C. Only members of CFA societies.D. Both CFA Institute members and candidates for the CFA designation.

9. What is the relationship between the Code of Ethics and the Standards of Professional Conduct?

A. The Code provides aspirational principles and the Standards provide specific rules of conduct.B. The Standards are more important than the Code and should be followed first.C. The Code replaces the Standards for candidates.D. The Code and Standards are unrelated documents.

10. What is the primary purpose of a code of ethics for a profession?

A. To protect the profession from outside criticism.B. To foster public confidence that members will use their skills to serve clients and others.C. To provide a marketing advantage for CFA charterholders.D. To limit the liability of investment professionals.

📋 CFA - Test Online Practice Quizzes

CFA

Conducting Body: CFA Institute

Frequency: 4 times a year (February, May, August, November) | Time: 135 Minutes

Negative Marking: No

⚡ Test Pattern (Total: 90 MCQs):

Alternative Investments: 8 MCQs
Corporate Issuers: 7 MCQs
Derivatives: 5 MCQs
Economics: 7 MCQs
Equity Investments: 12 MCQs
Ethics: 16 MCQs
Financial Statement Analysis: 11 MCQs
Fixed Income: 11 MCQs
Portfolio Management: 9 MCQs
Quant Methods: 6 MCQs

Merit Formula: -

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