CFA Level 1 Mini Mock

Sample Question

A portfolio manager at an investment firm receives a gift worth $500 from a client after generating strong returns. The manager does not disclose this gift to her employer. According to the CFA Institute Code of Ethics and Standards of Professional Conduct, which standard has the manager most likely violated?

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

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