Question #20 - Reading 42.1 Standards of Professional Conduct Guidance for Standards I

Reading: Reading 42.1 Standards of Professional Conduct Guidance for Standards I

PDF File: Reading 42.1 Standards of Professional Conduct Guidance for Standards I.pdf

Page: 8

Status: Correct

Correct Answer: B

Question

Sam Lecheval, a Level I CFA candidate, resides in a European Union (EU) country and does business in Japan. Lecheval is required to maintain knowledge of and comply with all applicable laws, rules, and regulations in:

Answer Choices:

A. both the EU and Japan, but not the CFA Institute Standards of Professional Conduct

B. the EU, Japan, and the CFA Institute Standards of Professional Conduct

C. the EU and the CFA Institute Standards of Professional Conduct, but not Japan

Explanation

Members and candidates are required to apply the strictest law, rule, or regulation that applies where they reside, applies where they do business, or is included in the CFA Institute standards, in all cases where any of these differ. (Module 42.1, LOS 42: I(A))

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