Non-practitioner candidates tend to find it difficult to fully grasp the concepts, so it is best to seek out a practitioner or instructor to discuss these concepts or questions with. Note that certain parts of the Standards Handbook within the prescribed readings are marked "Optional Reading": these parts aren't tested and can be skipped if you're pressed for time. The CFA Institute prides its Code of Ethics and Standards of Professional Conduct to be the ethical benchmark for investment professionals worldwide. As a candidate in the level 1 CFA exam, you must know that each ethics standard is devoted to a separate area of the investment profession. CFA Level 2 Exam Preparation with AnalystNotes: Study Session 1. Reading 1. Th’ng Beng Hooi, CFA, lectures on Ethics for AB Maximus & Co. A new Cheat Sheet topic is available every Sunday on the AB Maximus blog. It provides a detailed explanation on what each of the required standards means, or is intended to address. The Seven Standards of Professional Conduct. The CFA Institute implements a factor called the 'ethics adjustment' for candidates that are within the passing score. Although sometimes you might be able to sense something wrong was done in a question's scenario, you'll also need to know exactly what was wrong, and why. He was previously VP for Dealing and Resource Development at a listed regional stock-broking firm and is the lead co-author of various financial regulatory examination study guides in Singapore and Malaysia. Related Posts. Level II CFA® Program exam: Ethical and Professional Standards cheat sheet, Take note of the exact wordings prescribed in the standards, such as ", Although there are many study aids (by different prep providers and schools) and different resources, candidates should focus only on the readings and sample exam questions prescribed for their specific exam level by. Comprehensive study notes that are based on the CFA Institute's study guide for the 2020 level 1 exam. The Standards of Professional Conduct are not to be confused with common sense as there are many special cases relating to finance that require much deeper knowledge. This makes it the second most significant topic area after Financial Reporting and Analysis. The section "Application of the Standard" provides examples of how these standards are upheld. The Standards of Practice Handbook might comprise the bulk of the Level I readings, but continues to be relevant in Levels II and III. Ethics is a tough topic on any level in the CFA curriculum. The Standards cannot, however, be used selectively. Ethical and Professional Standards, 1. There is less material to go through though - Ethics only comprises of 4 out of the 60+ readings for the CFA exam, so it makes sense to really concentrate on Ethics for the CFA exam. Saved by Shibi Narayanan. The Cheat Sheet articles are a series of articles, each focusing on one specific topic area of the CFA exam for one specific CFA level. In this series of revision posts, we ask your AB Maximus CFA® Program exam trainers to give you quick tips and essential advice for different chapters in the syllabus. Know what they mean and entail. Ensuring ethical conduct is one of the key principles underpinning the concept of a CFA charter, and by holding a CFA charter, you are pledging to the CFA Institute and your clients that you will hold your conduct strictly by the Code. 1. Investment managers hold a lot of responsibility (not to mention a lot of their clients' money). Known officially as Ethical and Professional Standards, the Ethics portion of the Level I CFA exam is focused on educating candidates on the CFA Institute's Code of Ethics & Standards of Professional Conduct - basically schooling future and current investment managers on how to behave. Articles, forum, guides, practice material, discounts - everything to maximize CFA pass chances. Over 5,700 practice questions that cover the entire CFA curriculum. A typical question will run the candidate through a theoretical scenario and ask the candidate to assess if any Ethics & Professional Standards were violated. A typical question will run the candidate through a theoretical scenario, such as this: The question would then ask the candidate to assess if any Ethics & Professional Standards were violated. Avoid relying on material from other sources that are not from the exam-setting body. Your Cheat Sheet to... CFA Level I: Ethical & Professional Standards. CFA Program Ethics & Standards Questions: How to Find the Correct Answers! The Ethics topic area makes up 15% of the tested material in the CFA Level I exam, or 36 questions in total.

In each Cheat Sheet article, we will cover the basics of what you need to know before diving into the material - what it's about in a nutshell, how significant is it in the CFA exams, real-life applications, and tips for the CFA exams. ... Th’ng Beng Hooi, CFA, lectures on Ethics for AB Maximus & Co. Code of Ethics and Standards of Professional Conduct, Study Session 1. To add a little spice to the mix, CFA Institute also puts forward the Code of Ethics that complements the Standards of Professional Conduct. There's probably no shortcut to learning the subject but to read this section thoroughly for each of the standards. In each Cheat Sheet article, we will cover the basics of what you need to know before diving into the material - what it's about in a nutshell, how significant it is in the CFA exams, real-life applications, and tips for the CFA exams. It is a lot of material but fortunately doesn’t change much from year to year and you’ve got a real opportunity to carry over some points to each exam if you learn it early. Taken from the CFA website: Your Cheat Sheet to... CFA Level I: Ethical & Professional Standards, Rob Thakur from Fitch Learning recommends addressing Ethics last, You can also get more tips to getting better at Ethics by reading this article, Viewing all published Cheat Sheet articles here, Signing up to our member list to get notified. A framework to support ethical decision- making is provided to help guide behavior. Besides its transferable knowledge across levels, Ethics is also unique in a very important way. Even with the change to topic area weights on the CFA exams this year, CFA Ethics and Professional Standards remain extremely important. There's less to read on this topic, but Ethics can be challenging to answer.

Please reload. Doing the practice questions found at the back of the Standards Handbook is highly recommended, as is reviewing your answers against the detailed solutions provided.

Simply put: AnalystNotes offers the best value Ethical and Professional Standards - Reading 1. Turned off Ethics by now? A new Cheat Sheet topic is available every Sunday on the AB Maximus blog. These could be cases related to the concepts found in the Handbook, or cover different areas/sub-topics, but which are not found within the book itself.

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