A CFA Candidate purchased copyrighted CFA exam preparatory studyguide from a publisher. The Candidate lost the study guide several weeks priorto the exam. , He did not purchase it again, instead, he photocopied a copythat his friend had purchased. According to the Standards of Practice Handbook,did the Candidate most likely violatethe CFA Institute Standards of Professional Conduct?

 

　　A.       Yes.

 

　　B.       No, because he had purchasedhis own copy.

 

　　C.       No, because both hadpurchased their own copies.

 

　　Solution: A

 

　　The Candidate violated Standard I (A)-Knowledge of the Law andStandard I (D)-Misconduct. By photocopying the material without the permissionof the author and publisher, the Candidate violated copy write laws andeffectively stole the intellectual property of the author and publisher, henceacted in a dishonest way.