CFA Level I Full-Length Mock Exam

Sample Question

A CFA charterholder, Sara Mitchell, manages a discretionary portfolio for a high-net-worth client. Without notifying the client, she shifts 20% of the portfolio into a private placement offering from a company where she serves as a board member and receives compensation. She believes the investment is suitable for the client. Which CFA Institute Standard is MOST directly violated?

• A.Standard III(A) – Loyalty, Prudence, and Care
• B.Standard VI(A) – Disclosure of Conflicts
• C.Standard III(C) – Suitability
• D.Standard IV(B) – Additional Compensation Arrangements

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