CFA® Level 1: AIMR Member Responsibilities | Criminal Activity, Liability, and Violations

AIMR Member Responsibilities

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Question

An AIMR member:

I. must report any criminal activity to the appropriate legal or regulatory authority.

II. may be held responsible for any illegal activity he associates himself with.

III. may be held liable for violations by others when he is unaware of the facts giving rise to the violations.

IV. can be held liable for violations if he does not take actions to dissociate himself from them.

Answers

A. I, II, III and IV

B. II and IV only

C. I, II and IV only

D. II, III and IV only

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Explanations

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A. B. C. D.

Standard I does not require a member to report the illegal activity to the appropriate regulatory authorities, though it may be prudent to do so in many cases if it is evident that the activity is illegal.

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