Bachelor of General Studies (BGS) Degree Practice Exam

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Which ethical principle must CFA members adhere to when interacting with the public?

Maintaining a competitive advantage
Acting with integrity and respect
Pursuing aggressive marketing tactics
Giving priority to personal interests

The correct answer is: Acting with integrity and respect

CFA members are required to adhere to the principle of acting with integrity and respect when engaging with the public. This principle is fundamental to maintaining the trust of clients, employers, and the broader financial community. Integrity reflects honesty, fairness, and the commitment to uphold the ethical standards of the profession, ensuring that members conduct their activities without misleading or deceiving others. Respect is also critical; it encompasses not just how members treat their clients and colleagues, but also how they represent the profession as a whole. Upholding this principle helps promote the overall reputation and credibility of the finance industry. In contrast, pursuing aggressive marketing tactics or prioritizing personal interests can undermine these relationships and the trust required in the professional environment. Maintaining a competitive advantage without ethical considerations could lead to practices that are not aligned with the core values of the CFA Institute.