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Study Session 1: Ethical and Professional Standards

Level II Topics by CFAI Study Session

One of my favorite features of the new site is the ability to “tag” topics using one of the CFAI study sessions. For example, if you post a topic on ethics you can select Study Session 1: Ethical and Professional Standards so that your topic will show up in the filter for that study session. This will allow you and other members of AF to quickly access posts for a specific study session. To tag a new topic with a study session, simply choose that study session from the Filed Under categories above the Save button on the new forum topic page.

Ethics is killing me!

Anybody else in the same boat? EOCs I got all correct…however, TTs only 25% correct! What am I missing? Somebody please guide.


Ethics -Standard VI(B)–Priority of Transactions.

Researcher, trading for himself after trading for clients & not alongside clients, is applicable only in case of thinly traded shares or even in case where the shares are highly liquid blue chip?

Kaplan Practice Exams & Q Bank

Does anyone know if Kaplan has updated their practice exams for 2019 significantly? I still have my books from 2018 which I was going to use as prep but was curious if they had changed their mocks.

Single representative Account

Why below is an incorrect (answer in CFA Practice Ques):

A weighted composite of all client accounts must be included in client presentations.

Under the Performance Presentation it is recommended that: Wtd composite of similar portfolios, not single representative account

How many topics have you covered?

I’ve completed the reading, EOC and a few questions from Kaplan QBank:


Economics (more like econometrics for a person who dislikes this) 

Corporate Finance 

Fixed Income 


I’m currently on FRA 

CFA -prepation Guide

I have just started CFA level 2 preparation. Is it something that i could easily tackle in 3 months, How many hours should i dedicate daily?

Ethical obligations of supervisors

Ahmed Jamal, CFA, head of research for Valley Brokers, decided it was time to change his recommendation on D&R Company from buy to sell. He orally announced his decision during the Monday staff meeting and said his written report would be finished and disseminated to Valley’s customers by the middle of next week. As a result of this announcement, Doris Smith, one of Jamal’s subordinates, immediately sold her personal shares in D&R, and Martin Temple told his largest institutional customers of the change the following day.

Making “public”, material nonpublic information

This is accurate but an odd statement;

From the Standards of Practice Handbook states; “if a member or candidate determines that information is material, the member … should make reasonable efforts to achieve public dissemination.” 

Therefore trading for a personal account would be contrary to the Code and Standards, but public dissemination appears fine. Not a surprising conclusion.