CFA 2026 Level I Ethics Professional Standards Free Quiz 2

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CFA 2026 Level I Ethics Professional Standards Free Quiz 2

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CFA 2026 Level I Ethics Professional Standards Free Quiz 2

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

General5 MCQs

11. What does Standard III(A) Loyalty, Prudence, and Care require?

A. Place their own interests before clients' interests.B. Act with reasonable care but not necessarily loyalty.C. Act for the benefit of clients and place clients' interests before their own.D. Act for the benefit of the firm before clients.

12. What does Standard III(B) Fair Dealing require?

A. Only applies to existing clients, not prospective clients.B. Allows members to prioritise clients based on their size.C. Only applies to investment recommendations, not actions.D. Requires dealing fairly and objectively with all clients and prospective clients.

13. What does Standard IV(A) Loyalty require?

A. Act for the benefit of their employer and not deprive the employer of their skills and abilities.B. Place their own interests above their employer's interests.C. Act for the benefit of their employer only when it does not conflict with personal interests.D. Deprive their employer of their skills and abilities if they are not fairly compensated.

14. What does Standard IV(B) Additional Compensation Arrangements require?

A. Requires prior approval from the employer for all additional compensation.B. Requires disclosure to the employer of all compensation arrangements that could create a conflict of interest.C. Requires disclosure to clients of all compensation arrangements.D. Does not require disclosure of additional compensation arrangements.

15. What does Standard IV(C) Responsibilities of Supervisors require?

A. Supervisors are not responsible for the actions of their subordinates.B. Supervisors only need to respond to violations after they occur.C. Supervisors must take reasonable steps to prevent violations by persons under their supervision.D. Supervisors only need to ensure compliance with the Code, not other laws.

General5 MCQs

16. What does Standard V(A) Diligence and Reasonable Basis require?

A. Only requires diligence when making recommendations to clients.B. Allows members to rely on the analysis of others without independent verification.C. Only requires diligence when analysing investments for large clients.D. Requires diligence, independence, and thoroughness in analysing investments, making recommendations, and taking investment actions.

17. What does Standard V(B) Communication with Clients require?

A. Disclose the basic format and general principles of their investment processes and communicate in a timely and accurate manner.B. Only communicate with clients when they ask questions.C. Only provide information that is favourable to the client.D. Communicate with clients only when there are significant changes in the portfolio.

18. What does Standard V(C) Record Retention require?

A. Only requires retention of records related to client transactions.B. Requires maintenance of appropriate records to support investment analysis, recommendations, actions, and other professional activities.C. Only requires retention of records for one year.D. Does not require retention of records if they are not requested by clients.

19. What does Standard VI(A) Disclosure of Conflicts require?

A. Only requires disclosure of conflicts that are actually impairing independence.B. Requires disclosure only when asked by clients.C. Requires full and fair disclosure of all matters that could reasonably be expected to impair independence and objectivity.D. Does not require disclosure of conflicts that are not yet actual.

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

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

📋 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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