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CFA® Level 1 2014 – Ethics & Professional Standards

CFA® Level 1 Exam [For Jun and Dec 2014]. This program covers the important topic of Ethics & Professional Standards
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Last updated 5/2014
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This program is a Support Tool & Guide to prepare for the CFA® Level 1 Examination to held in June & December 2014. This program covers the First and Most important topic - 'Ethics & Professional Standards' (also known as 'ETHICS' module) carrying almost 15% weight in the 6-hour Exam covering a total of 240 questions [120 questions each in Morning session (9 am to 12 noon) and Afternoon session (2 to 5 pm)]. Many candidates find that they performed or scored very well in other topics but fared poorly in Ethics and as a result could not clear Level 1. Keeping this in consideration, AFT has developed this module with about 3 hours of video lectures to make this topic easier for Candidates to grasp and understand the concepts using relevant examples at varied standards. We hope that you will find this program extremely useful.

Required CFA Institute Disclaimer: "CFA® and Chartered Financial Analyst® are trademarks owned by CFA institute. CFA Institute (formerly the Association for Investment Management And Research) does not endorse, promote, review, or warrant the accuracy of the products or services offer by Academy of Financial Training.”

Who is the target audience?
  • CFA® Program Level 1 [June or December 2014 Exam] Candidates
  • The CFA® Program is suitable for Bankers, Investment Managers, Equity Research professionals, MBAs, and other Finance graduates / professionals. It is also beneficial for non-finance professionals like IT engineers and others who are interested to enhance their knowledge in Finance or choose it as a career.
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What Will I Learn?
Enable the student to understand and apply the CFA Institute Code of Ethics & Standards of Professional Conduct correctly in the CFA Level 1 Examination
View Curriculum
  • No specific pre-requisite knowledge required as such, however a basic understanding of financial services (especially investment management industry) will be useful
Curriculum For This Course
Expand All 23 Lectures Collapse All 23 Lectures 02:54:41
Introduction to Ethics & Professional Standards
1 Lecture 19:22

This session gives a detailed introduction to the Ethics & Professional Standards Module for CFA Level 1 Examination and its importance in the context of the exam. First we understand why Ethics are important in the financial markets and to the investment fraternity. Then we understand the CFA Institute Professional Conduct Program and lastly we understand the 6 statements covered in the CFA Institute Code of Ethics

Preview 19:22
Standard I - Professionalism
4 Lectures 32:04

This session covers Standard I [A] Knowledge of the Law: Members & candidates must understand and comply with all the applicable laws, rules and regulations (including CFA Institute Code of Ethics & Standards) of any government, regulatory organization, licensing agency, or professional association governing their professional activities.

A. Knowledge of the Law

This session covers Standard I [B] Independence and Objectivity: Members & candidates must use reasonable care and judgement to achieve and maintain independence and objectivity in their professional activities and must not offer, solicit, or accept any gift, benefit, compensation or consideration so as to give a perception of compromise on their own or other's independence and objectivity.

B. Independence and Objectivity

This session covers Standard I [C] Misrepresentation: Members & candidates must not knowingly make any misrepresentations relating to investment analysis, recommendations, actions or other professional activities (hereinafter called as "investment activities").

C. Misrepresentation

This session covers Standard I [D] Misconduct: Members & candidates must not engage in any professional conduct involving dishonesty, fraud, or deceit or commit any act that reflects adversely on their professional reputation, integrity, or competence.

D. Misconduct
Standard II - Integrity of Capital Markets
2 Lectures 14:29

This session covers Standard II [A] Material Nonpublic Information: Members & candidates who possess material nonpublic information that could affect the value of an investment must not act or cause others to act on such information.

A. Material Nonpublic Information

This session covers Standard II [B] Material Manipulation: Members & candidates must not engage in practices that distort prices or artificially inflate trading volume with the intent to mislead market participants.

B. Market Manipulation
Standard III - Duties to Clients
5 Lectures 37:27

This session covers Standard III [A] Loyalty, Prudence, and Care: Members & candidates have a duty of loyalty to their clients and must act with reasonable care and exercise prudent judgement. They also must act for the benefit of their clients and place their clients' interests before their employer's or their own interests.

A. Loyalty, Prudence, and Care

This session covers Standard III [B] Fair Dealing: Members & candidates must deal fairly and objectively with all clients when providing investment analysis, making investment recommendations, taking investment actions or engaging in other professional activities.

B. Fair Dealing

This session covers Standard III [C] Suitability: Members & candidates, while in an advisory relationship, must make reasonable inquiry into a client's or prospect's investment experience, risk and return objectives, and financial constraints prior to engaging in any investment related activities and must also reassess and update such information in a timely manner. They should also determine whether an investment is suitability to client's investment policy statement and in the context of client's total portfolio. Members & candidates, while managing a portfolio to a particular mandate, strategy or style must take care of that their investment related activities are consistent with the stated objectives and constraints of the portfolio.

C. Suitability

This session covers Standard III [D] Performance Presentation: Members & candidates, when communicating investment performance information, must make reasonable efforts to ensure that it is fair, accurate and complete.

D. Performance Presentation

This session covers Standard III [E] Preservation of Confidentiality: Members & candidates must keep all the client information (about current, former or prospective clients) confidential. Disclosure without permission can be made only in some specific situations like illegal activities of the client or if such disclosure is required to comply with the law.

E. Preservation of Confidentiality
Standard IV - Duties to Employers
3 Lectures 20:00

This session covers Standard IV [A] Loyalty: Members & candidates must act for the benefit of their employer and not deprive their employer of the advantage of their skills and abilities, divulge confidential information, or otherwise cause harm to their employer.

A. Loyalty

This session covers Standard IV [B] Additional Compensation Arrangements: Members & candidates must not accept gifts, benefits, compensation, or consideration that competes with, or give perception of a conflict of interest with, their employer's interest unless written consent is obtained from all parties involved.

B. Additional Compensation Arrangement

This session covers Standard IV [C] Responsibilities of Supervisors: Members & candidates must make reasonable efforts to detect and prevent violations of applicable laws, rules, regulations, and the Code and Standards by anyone subject to their supervision and authority.

C. Responsibilities of Supervisors
Standard V - Investment Analysis, Recommendations, and Actions
3 Lectures 19:39

This session covers Standard V [A] Diligence and Reasonable Basis: Members & candidates must exercise diligence, independence, and thoroughness in analyzing investments, making investment recommendations, and taking investment actions. Further, they must have a reasonable and adequate basis, supported by appropriate research and investigation, for any investment related activities.

A. Diligence and Reasonable Basis

This session covers Standard V [B] Communication with Clients & Prospective Clients: Members & candidates must disclose to clients & prospects, the basic format and principles of the investment processes used to analyze and select investments and construct portfolios and must promptly disclose any changes that might materially affect such processes. They also must use reasonable judgement in identifying factors that are important in the investment activities and include them in their communication. They must always clearly distinguish between fact and opinion in their investment related communications.

B. Communication with Clients and Prospective Clients

This session covers Standard V [C] Record Retention: Members & candidates must develop and maintain appropriate records to support their investment activities and other investment related communications with clients and prospects.

C. Record Retention
Standard VI - Conflicts of Interests
3 Lectures 18:04

This session covers Standard VI [A] Disclosure of Conflicts: Members & candidates must make full and fair disclosure of all matters that could reasonably be expected to impair their independence and objectivity or interfere with their respective duties to clients, prospects or employer. They must also ensure that such disclosures are prominent, delivered in plain language, and communicate relevant information effectively.

A. Disclosure of Conflicts

This session covers Standard VI [B] Priority of Transactions: Members & candidates must always give priority to investment transactions for clients and employers over those in which they are the beneficial owner.

B. Priority of Transactions

This session covers Standard VI [C] Referral Fees: Members & candidates must disclose to their employer, clients and prospects, any compensation, consideration or benefit received from, or paid to, others for the recommendation of products or services.

C. Referral Fees
Standard VII - Responsibilities as a CFA Institute Member or CFA Candidate
2 Lectures 13:36

This session covers Standard VII [A] Conduct as Members and Candidates in the CFA Program: Members & candidates must not engage in any conduct that compromises the reputation or integrity of CFA Institute or the CFA Designation or the integrity, validity or security of the CFA examination.

A. Conduct as Members and Candidates in the CFA Program

This session covers Standard VII [B] Reference to CFA Institute, the CFA Designation, and the CFA Program: Members & candidates, when referring to CFA Institute, CFA Institute membership, the CFA designation, or candidacy in the CFA Program, must not misrepresent or exaggerate the meaning or implications of membership in CFA Institute, holding the CFA designation, or candidacy in the CFA Program.

B. Reference to CFA Institute, the CFA Designation, and the CFA Program

This quiz will test your learning on A quiz on Ethics and Professional Standards

A quiz on Ethics and Professional Standards
30 questions
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