Explanation:
Explanation:
According to the CFA Institute's Code and Standards, Standard I(A) - Knowledge of the Law requires members to:
Let's analyze each option:
Option A: Correct - Members are required to dissociate from client activities they believe are unethical or illegal. This is a key requirement under Standard I(A). If a member becomes aware of illegal or unethical activities by a client, they must take steps to dissociate from those activities.
Option B: Incorrect - Members are NOT required to have detailed knowledge of ALL laws that could potentially govern their activities. The standard requires members to understand and comply with applicable laws, but they are not expected to be legal experts. They should make reasonable efforts to understand the laws that apply to their specific professional activities.
Option C: Incorrect - While reporting violations is encouraged under Standard I(D) - Misconduct, it is not a specific requirement under Standard I(A) - Knowledge of the Law. The primary focus of Standard I(A) is on compliance with laws and regulations, not on reporting fellow members' violations.
Key Points:
Ultimate access to all questions.
Which of the following is most accurate according to the Standard relating to knowledge of the law? Members are required to
A
dissociate from client activities they believe are unethical.
B
have detailed knowledge of all the laws that could potentially govern their activities.
C
report potential violations of the Code and Standards committed by fellow members to the CFA Institute Professional Conduct Program.
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