Standard I(A)

Question 1

what is standard i(A)

Answer 1

Professionalism - Knowledge of the Law

Question 2

explain Standard i(A)

Answer 2

must understand and comply with all applicable laws, rules, and regulations of any govt, regulatory organization, licensing agency or professional association

in event of conflict, must comply w/ more strict law/rule/regulation

must not knowingly participate or assist in and must dissociate from any violations

Question 3

reside in NS, business in LS

Answer 3

LS applies –> code & standards

Question 4

resides in NS, business in MS

Answer 4

MS applies –> MS laws

Question 5

resides in LS, business in NS

Answer 5

LS applies –> code & standards

Question 6

resides in LS, business in MS

Answer 6

MS applies –> MS laws

Question 7

resides in LS, business in NS, states law of locality where business is conducted governs

Answer 7

LS applies –> code & standards

Question 8

resides in LS, business in MS, states law of locality where business is conducted governs

Answer 8

LS applies but adhere to MS laws

Question 9

resides in MS, business in LS

Answer 9

MS applies –> MS laws

Question 10

resides in MS, business in LS, states law of locality where business is conducted governs

Answer 10

code & standards

Question 11

resides in MS, business in LS, client of LS citizenship,, states law of locality where business is conducted governs

Answer 11

code & standards

Question 12

resides in MS, business in LS w/ client of MS citizenship, states law of locality where business is conducted governs

Answer 12

MS laws

Question 13

recommended procedures

Answer 13

acquiring and maintaining understanding of applicable laws

understand development and distribution area laws

seek compliance or legal counsel

document violation when dissociating from activity

develop/adopt code of ethics
distribute pertinent applicable law info to employees
establish written protocols