Chartered Investment Manager (CIM) Practice Exam · Question
A Canadian investment professional is required to act in their clients' best interests and to place those interests ahead of their own. This describes the core principle of:
Fiduciary duty is a legal and ethical obligation for a person or organization to act in the best interests of another party, which for investment professionals
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Question: A Canadian investment professional is required to act in their clients' best interests and to place those interests ahead of their own. This describes the core principle of:
Answer options:
- Market timing. ✅ Fiduciary duty.
- Technical analysis.
- Proprietary trading.
Correct answer: Fiduciary duty.
Explanation: Fiduciary duty is a legal and ethical obligation for a person or organization to act in the best interests of another party, which for investment professionals means prioritizing client interests.
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Other Canadian certifications candidates often prepare for alongside this one.