Question #21
Reading: Reading 41 Code of Ethics
PDF File: Reading 41 Code of Ethics.pdf
Page: 7
Status: Correct
Correct Answer: A
Question
John Elliot, CFA, says that in issues of ethics he always puts the clients first according to the guidelines in the Code of Ethics. In doing so he is:
Answer Choices:
A. not correct, because no such ordering or priority is given in the Code
B. not correct, because his first duty is to the public
C. correct
Explanation
Component one of the Code of Ethics mentions duties to the public, clients, prospects,
employers, employees, and fellow members. No ordering of priorities is given. Standards
of Professional Conduct on the other hand, does give priority. Standard III.A, Duties to
Clients, specifies that clients have priority over employers.