Ethics and Professional Standards

CFA Level 1 · 10 questions

Key Takeaways

  • Covers the CFA Institute Code of Ethics and Standards of Professional Conduct, which apply to every charterholder regardless of role.
  • Tested through scenario-based vignettes asking which Standard was violated, not just definitions.
  • One of the highest-weighted Level 1 topics — roughly 15–20% of your score.
  • Introduces the Global Investment Performance Standards (GIPS) framework for the first time.
ethics1 / 10
Question 1Easy

A portfolio manager receives material nonpublic information about a company acquisition. What action must the manager take?

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