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CFA® Level I question of the day

10 October 2026 · Ethical and Professional Standards

Which obligation appears in the Code of Ethics?

Show the answer and explanation

Answer: A. Put the profession and clients before oneself

Placing the integrity of the profession and the interests of clients above one's own interests is one of the Code's six principles.

Why the other options are wrong:

  • B. Guarantee clients a minimum annual return — No return can be guaranteed on a risky investment, and promising one breaches Standard I(C).
  • C. Disclose all personal holdings publicly each quarter — Personal holdings are disclosed to the employer under Standard VI(B), not published to the world.

Easy · ET.1.a · learning outcome: Set out the parts that make up the Code of Ethics

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More on Ethical and Professional Standards

Notes, formulas and a worked question for every learning outcome are on the Ethical and Professional Standards page, with the whole CFA Level I syllabus alongside.

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