Final answer:
The statement "past performance is not indicative of future results" is an ethical requirement for CFAs, known as a qualifying disclosure obligation, meant to manage expectations and uphold the integrity of financial advice.
Step-by-step explanation:
Within the context of ethical standards for Chartered Financial Analysts (CFAs), the statement "past performance is not indicative of future results" is an example of a qualifying disclosure obligation. This ethical requirement ensures that the CFA provides a disclaimer that informs clients and prospective investors that historical financial performance should not be seen as a guarantee of future performance. The obligation to include such a statement helps manage client expectations and maintains the integrity of financial advice and analysis, as it prevents the misinterpretation of data that could lead to unrealistic expectations about the potential success of an investment.