CFA Level 1 Ethics Learning Outcomes are important to focus on when studying for your CFA Level 1 exam. That’s because while the ethics study session is pretty short, it carries a big weight on the CFA exam, worth 15% of the exam.
By the way, you can also review all of the CFA Level 1 study topics here. Keep in mind these notes are not from the CFA curriculum, but actually from the Kaplan Schweser CFA Level 1 study guides. I really like these guides because they are quite concise and focus in on exactly what you need to know.
So here’s what you need to know for the Ethics and Professional Standards study session of CFA Level 1…
Ethics and Professional Standards Learning Outcomes:
The Ethics and Professional Standards are covered in Book 1, Session 1 – Pages 1-98 of the Kaplan Schweser study guide linked to above.
1a: Describe the structure of the CFA Institute Professional Conduct Program and the process for the enforcement of the Code and Standards.
1b: State the six components of the Code of Ethics and the seven Standards of Professional Conduct.
1c: Explain the ethical responsibilities required by the Code and Standards, including the multiple sub-sections of each Standard.
2a: Demonstrate and explain the application of the Code of Ethics and Standards of Professional Conduct to situations involving issues of professional integrity.
2b: Distinguish between conduct that conforms to the Code and Standards and conduct that violates the Code and Standards.
2c: Recommend practices and procedures designed to prevent violations of the Code of Ethics and Standards of Professional Conduct.
3a: Explain why the GIPS standards were created, what parties the GIPS standards apply to, and who is served by the standards.
3b: Explain the construction and purpose of composites in performance reporting.
3c: Explain the requirements for verification.
4a: Describe the key features of the GIPS standards and the fundamentals of compliance.
4b: Describe the scope of the GIPS standards with respect to an investment firm’s definition and historical performance record.
4c: Explain how the GIPS standards are implemented in countries with existing standards for performance reporting and describe the appropriate response when the GIPS standards and local regulations conflict.
4d: Describe the nine major sections of the GIPS standards.
So there you have it. Hopefully these learning outcomes will help you improve your studying for the CFA Level 1 exam. If you’re contemplating studying the CFA level 1 exam I encourage you to check out the Kaplan Schweser CFA Level 1 study guides yourself to speed up your studying and improve your results.
And By The Way: If you’re not ready for the CFA exam you can still improve your approach to stock markets by downloading my free ebook below. You’ll learn how I have refined my approach to the stock market over the years. You’ll also get free updates, tools and tips sent to you each week with my favorite stock market resources.