Ethical and Professional Standards (for Level I of the CFA® Exam)

Offered by AnalystPrep

What's Inside

In this course, Prof. James Forjan, PhD, CFA, summarizes each Ethics reading and standard of professional conduct so you can learn or review all of the important concepts for your CFA Level exam. James Forjan has taught college-level finance classes for over 25 years. Ethical and Professional Standards represents 15 percent of the total CFA L1 exam, so Prof. Forjan will make sure you understand well all of the intricacies related to this chapter.

The readings covered in this course are:

  • Reading 1 – Ethics and Trust in the Investment Profession
  • Reading 2 – Code of Ethics and Standards of Professional Conduct
  • Reading 3 – Guidance for Standards I-VII

Standard I – Professionalism

  • (A) Knowledge of the law
  • (B) Independence and objectivity
  • (C) Misrepresentation
  • (D) Misconduct
Standard II – Integrity of Capital Markets
  • (A) Material non-public information
  • (B) Market manipulation
Standard III – Duties to Clients and Prospective Clients
  • (A) Loyalty and prudence
  • (B) Fair dealing
  • (C) Suitability
  • (D) Performance presentation
  • (E) Preservation of confidentiality
Standard IV – Duties to Employers
  • (A) Loyalty
  • (B) Additional compensation arrangements
  • (C) Responsibilities of supervisors
Standard V – Investment Analysis, Recommendations, and Action
  • (A) Diligence and Reasonable basis
  • (B) Communication with clients and prospective clients
  • (C) Records retention
Standard VI – Conflicts of Interest
  • (A) Disclosure of conflicts
  • (B) Priority of transactions
  • (C) Referral fees
Standard VII – Responsibilities as a CFA Institute Member or CFA Candidate
  • (A) Conduct as participants in CFA Institute programs
  • (B) Reference to CFA Institute, CFA designation, and CFA program
  • Reading 4 – Introduction to
    the Global Investment Performance Standards (GIPS)
  • Reading 5 – The GIPS Standards

CFA Institute does not endorse, promote or warrant the accuracy or quality of AnalystPrep. CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

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James Forjan

James Forjan has taught graduate and post-graduate finance classes for over 25 years and has also co-authored college-level investment books. He currently teaches a number of different graduate and MBA classes in Pennsylvania. He received his CFA charter in 2004 and has always been keeping up to date with what is happening in the investment world. His resume includes:

  • BS in Accounting
  • Master of Science in Finance
  • PhD in Finance (minor in Economics, two PhD level courses in Econometrics)
  • Completed the CFA Program in 2004 and earned the CFA charter later that year
  • College professor who taught at six institutions since classes such as Corporate Finance, Investments, Derivatives Securities, International Finance
  • Has crafted, edited, updated, and upgraded a multitude of CFA type questions at all levels
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