Ethics: Part 3: Guidance for Standards I–VII

Question 1

What does “Applicable Law” mean?

Answer 1

“Applicable law” is the law that governs the member’s or candidate’s conduct.

Question 2

How does one identify “the more strict law or regulation” ?

Answer 2

The “more strict” law or regulation is the law or regulation that imposes greater restrictions on the action of the member or candidate or calls for the member or candidate to exert a greater degree of action that protects the interests of investors.

Question 3

True or False:

Members and candidates must not engage in conduct that constitutes a violation of the Code and Standards, even though it may otherwise be legal.

Answer 3

True.

Question 4

Fill in the blank:

The applicable laws governing the responsibilities of a member or candidate should be viewed as the ________ threshold of acceptable actions.

Answer 4

Minimal

Question 5

What is standard 1A?

Answer 5

Standard I(A): Professionalism - Knowledge of the Law