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Answer: Inform their employer before commencing an independent practice while still employed.
### Explanation **Option A** is incorrect because Standard IV(A) - Loyalty does not mandate that members and candidates must always place their employer's interests above their personal interests. The standard acknowledges that personal and family obligations may take precedence in certain situations. **Option B** is correct. Standard IV(A) - Loyalty allows members and candidates to engage in independent practice while employed, provided they notify their employer in advance. They must disclose the nature of the services, expected duration, and compensation, and obtain employer consent before proceeding. **Option C** is incorrect because Standard IV(A) - Loyalty recognizes scenarios where members and candidates may need to act contrary to their employer's interests, such as when the employer is involved in illegal or unethical activities. In such cases, actions like contradicting employer instructions or preserving records may be justified to comply with broader ethical duties.
Author: LeetQuiz Editorial Team
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According to the Standard relating to loyalty, CFA members and candidates must:
A
Prioritize their employer's interests over personal interests in all circumstances.
B
Inform their employer before commencing an independent practice while still employed.
C
Refrain from acting against their employer's interests when fulfilling client obligations.
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