16. Rebecca Wong is enrolled to take the Level I CFA exam. Her friend William Leung purchased Level I study materials from a well-known CFA review program the previous year. Leung made a photocopy
of the previous year's copyrighted materials and sold it to Wong to help her study. Who most likely
violated the CFA Institute Code of Ethics or any Standards of Professional Conduct?
A. Neither violated.
B. Only Leung violated.
C. Both violated.
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