Charta is on Google Play: practise on the go. Get the app
Charta

CFA® Level I question of the day

5 November 2026 · Ethical and Professional Standards

A member is repeatedly incapable of working after long lunches. Which Standard is most directly engaged?

Show the answer and explanation

Answer: C. Misconduct, since it bears on competence

Misconduct covers any act that reflects badly on professional reputation, integrity or competence. Being repeatedly unable to work after long lunches bears directly on the member's fitness to do the job, so Standard I(D) is the one most directly engaged. It is the link to competence that brings it in, not disapproval of lunches. Nothing here involves a gift, a conflict or a recommendation, so the other two options do not fit.

Why the other options are wrong:

  • A. Independence and objectivity, I(B) - Standard I(B) concerns benefits that could sway judgement, and nothing here involves a gift or a conflicted relationship.
  • B. Suitability, Standard III(C) - Standard III(C) concerns whether a recommendation fits the client's circumstances, and no recommendation is described.

Medium · ET.2.e · learning outcome: Use the Misconduct standard, I(D), in cases

← 4 November 2026

Get a new question every day with spaced review, so the ones you miss come back before you forget them.

Take the free diagnostic →

More on Ethical and Professional Standards

Notes, formulas and a worked question for every learning outcome are on the Ethical and Professional Standards page, with the whole CFA Level I syllabus alongside.

Recent questions

All previous questions →