CFA Level 1 Ethical and Professional
Standards Part 1
Andrew Holmes is a professor at Brigham Young University in Provo
Utah and welcome to the Kaplan-schnauzer video series in this
series of course we'll be covering level one and this is the first clip of
the series. I have worked with the curriculum for a long time and I am
hoping that I can help you get past this material and ultimately get
this level one exam behind you. The ethics material is difficult so many
people look at this material especially first time test takers and say
look this is ethical this is material that describes ethical behaviour I am
a good person okay I do not beat my kids or rob banks okay so
therefore I am going to be able to identify ethical versus unethical
material and I am going to do well on this big chunk that is 15
percent of the exam at level 1. A good system also is to keep your
ethics book on your nightstand and as you go to bed each night spend
five or ten minutes reading ethics reviewing the case studies those
types of things. The material for the main part the big part of your
reading a lot of your study time is devoted to ethics is going to be the
same across all three levels.
At level one we have a little intro thing that we 're going to do that you
do not see formally at the other two levels and that is the idea of a
professional conduct program or how do we discipline members of
CFAI or CFA charter holders if some potential breach has been
brought to light. We'll have 20 or 30 minutes at the end to introduce
idea of global investment performance standards you will get a much
more thorough review of those at level three. The CFA institute board
of governors has responsibility for this they are the ones that are
going to conduct a professional conduct review. There is of course
going to be a designated officer that means that CFAI designates an
officer that's responsible for this. The designated officer will
decide whether or not this merits a review board and uh if
there is then they we will go in and they will conduct. If
something goes awry in the testing room the CFAI proctor or CFA exam
proctor will write up a little report that'll be submitted that of course
goes to the designated officer and that's going to lead to a committee
and the word on the street is if there's a report that comes in from the
exam proctor well. There is just almost no way around that if you pay
if you had a passing score on the exam those scores are going to be
rescinded.
The code of ethics is basically a six plank platform about what
constitutes ethical behaviour we'll go through that and then we 'll get
into the nitty gritty which is the standards of professional conduct now
this is done under the 10th edition but the one that came out in 2010.
This is the most up-to-date material is what i 'm trying to tell you now
you're in your fourth volume of the ethics material. The code of ethics
Standards Part 1
Andrew Holmes is a professor at Brigham Young University in Provo
Utah and welcome to the Kaplan-schnauzer video series in this
series of course we'll be covering level one and this is the first clip of
the series. I have worked with the curriculum for a long time and I am
hoping that I can help you get past this material and ultimately get
this level one exam behind you. The ethics material is difficult so many
people look at this material especially first time test takers and say
look this is ethical this is material that describes ethical behaviour I am
a good person okay I do not beat my kids or rob banks okay so
therefore I am going to be able to identify ethical versus unethical
material and I am going to do well on this big chunk that is 15
percent of the exam at level 1. A good system also is to keep your
ethics book on your nightstand and as you go to bed each night spend
five or ten minutes reading ethics reviewing the case studies those
types of things. The material for the main part the big part of your
reading a lot of your study time is devoted to ethics is going to be the
same across all three levels.
At level one we have a little intro thing that we 're going to do that you
do not see formally at the other two levels and that is the idea of a
professional conduct program or how do we discipline members of
CFAI or CFA charter holders if some potential breach has been
brought to light. We'll have 20 or 30 minutes at the end to introduce
idea of global investment performance standards you will get a much
more thorough review of those at level three. The CFA institute board
of governors has responsibility for this they are the ones that are
going to conduct a professional conduct review. There is of course
going to be a designated officer that means that CFAI designates an
officer that's responsible for this. The designated officer will
decide whether or not this merits a review board and uh if
there is then they we will go in and they will conduct. If
something goes awry in the testing room the CFAI proctor or CFA exam
proctor will write up a little report that'll be submitted that of course
goes to the designated officer and that's going to lead to a committee
and the word on the street is if there's a report that comes in from the
exam proctor well. There is just almost no way around that if you pay
if you had a passing score on the exam those scores are going to be
rescinded.
The code of ethics is basically a six plank platform about what
constitutes ethical behaviour we'll go through that and then we 'll get
into the nitty gritty which is the standards of professional conduct now
this is done under the 10th edition but the one that came out in 2010.
This is the most up-to-date material is what i 'm trying to tell you now
you're in your fourth volume of the ethics material. The code of ethics
