CFA Level III Practice Questions - CFA Level III Chartered Financial Analyst Exam

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Under the CFA Institute Code of Ethics and Standards of Professional Conduct, which of the following best describes the primary duty of a portfolio manager when allocating IPO shares among client accounts?

Allocate shares proportionally based on assets under management Allocate shares to maximize the firm's overall commission revenue Treat all clients fairly in accordance with their investment objectives Prioritize long-standing clients over newer clients

Correct Answer:

Treat all clients fairly in accordance with their investment objectives

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