CFA® Level 1 Exam - Incorrect Statement

Which of the following statements is NOT correct?

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Question

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A. Members who work in a country where the Code and Standards impose a lesser degree of responsibility than local laws and regulations must still adhere to the Code and Standards.

B. All of these statements are correct.

C. Standards II through V address specific conduct.

D. Standard I sets forth minimum standards relating to general activities.

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Explanations

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A. B. C. D.

If a member lives in a country, or provides investment services to a client residing in a country, with more strict securities laws than the Codes and Standards, he/ she must comply with the more strict laws and regulations of the country.

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