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Answer: No, Joon did not violate any CFA Standards.
According to **Standard I(D)**, Misconduct, Members and Candidates must not engage in professional conduct involving dishonesty, fraud, or deceit, or commit any act that reflects adversely on their professional reputation, integrity, or competence. Joon's actions were not fraudulent or deceitful, and personal bankruptcy does not necessarily reflect on his professional integrity. Additionally, **Standard III(A)**, Loyalty, Prudence, and Care, requires Members and Candidates to act for the benefit of their clients and prioritize their clients' interests over their own or their employer's. There is no evidence that Joon failed to act in his clients' best interests. Therefore, Joon did not violate any CFA Standards.
Author: LeetQuiz Editorial Team
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Min Joon, CFA, works in the client services department of an investment firm. He has been short-selling stocks in his personal account, anticipating a market decline. His transactions do not harm his firm's clients. After a market surge, Joon cannot cover his short positions and declares personal bankruptcy. Did Joon violate any CFA Standards?
A
No, Joon did not violate any CFA Standards.
B
Yes, Joon violated the Standard related to misconduct (Standard I(D)).
C
Yes, Joon violated the Standard related to loyalty, prudence, and care (Standard III(A)).