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Explore CFA Level 1 DrillsAceThePrepTrap ForensicsCFA Level 1Hub →
CFA Level 1Ethical & Professional StandardsGuidance for Standards I-VII
Level 3 Trap Drill
Can you avoid the examiner's trap?Select an option to evaluate
David Cole, CFA, manages discretionary portfolios for retail clients. He receives an allocation of an oversubscribed, highly attractive initial public offering (IPO). Cole allocates shares to his own personal account, his brother's client account, and a corporate client whose CEO is his close personal friend, before allocating the remaining shares pro-rata among his other clients. Which CFA Institute Standards of Professional Conduct did Cole violate?
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Practice More CFA Level 1 Guidance for Standards I-VII Questions

Take the interactive diagnostic drill with real-time distractor analysis, Desmos calculator, and SM-2 spaced repetition.

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More Guidance for Standards I-VII Questions in CFA Level 1

Tier 3CFA Level 1

Sarah Jenkins, CFA, is a senior research analyst covering the pharmaceutical sector. A biotech company she cov...

Inspect distractor trap
Tier 3CFA Level 1

Under the extended 5-step DuPont framework, how is the Tax Burden ratio defined, and what is the impact of an ...

Inspect distractor trap
Tier 2CFA Level 1

A 5-year annual coupon bond with an 8% coupon rate trades at par ($1,000). If market interest rates instantly ...

Inspect distractor trap
Tier 2CFA Level 1

According to the CFA Institute Code of Ethics, members and candidates must place the integrity of the investme...

Inspect distractor trap
Tier 2CFA Level 1

The CFA Institute Code of Ethics requires investment professionals to practice and encourage others to practic...

Inspect distractor trap