I am pretty sure about this...

CFA Level I
#1

Even if you let the people at CFAI who wrote test questions do the real ethics, they may fail easily…

#2

i find CFAI ethics questions to be pretty straightforward schweser, on the other hand…

#3

I agree, it’s a word game more than testing your knowledge of ethics.

#4

When I wrote the exam in December, the only part I did well in was ethics. I never had a hard time understanding it. Now I feel im ok at like 60-70% of the rest of the material. Don’t know if it’s enough…

#5

… And some of the questions are essays where they are talking about 3 or more people who are all connected with each other.

#6

supersharpshooter Wrote: ------------------------------------------------------- > i find CFAI ethics questions to be pretty > straightforward > > schweser, on the other hand… Couldn’t agree more!! I’ve tested in the upper 80’s low 90’s on CFA ethics. For schweser, it’s been upper 60 / low 70.

#7

Straightforward? Ok, try this one: You are an industry analyst for an investment firm. In your spare time, you form an investment club with former college friends. You agree to manage a portfolio of commingled funds for a fee and a performance incentive and intend to use information gained at your firm to manage the portfolio. You inform your supervisor of this venture in writing and he approves. A. You have not violated the Standard because you informed your supervisor in writing. B. You have not violated the Standard because your supervisor approved. C. You have violated the Standard because it precludes all activities competing with your employer. D. You have violated the Standard because you intend to use information obtained at work.

#8

B

#9

B

#10

C

#11

You guys are good to go:-)…any tips for dealing with ethics?

#12

You’re doing it on your own time, you advised your supervisor in writing, you got his approval, and knowledge (i.e. experience) is allowed to be used.

#13

over05 Wrote: ------------------------------------------------------- > You guys are good to go:-)…any tips for dealing > with ethics? First think of the right thing to do (i e the human ethical) then think of the standards… You have to break it down.

#14

Sorry guys, the correct answer is not B! I chose B. I made a mistake by saying what I said in the previous answer. Sorry. The answer is D.

#15

over05 Wrote: ------------------------------------------------------- > Sorry guys, the correct answer is not B! I chose > B. I made a mistake by saying what I said in the > previous answer. Sorry. The answer is D. I can see that if he uses information gained at work. It would depend on what information. I was thinking experience but it could be he is using information from other analysts?

#16

D

#17

I am surprised by the answer, which the website I use did not give explanation, but I think it it violates IV(A) by doing self-dealing. Plus the q does not say what kinda of information and there is no agreement on what information he can use, so it probably violates…

#18

I was racing to the end to say D, but… that’s what I would choose knowing how they ask these quesions, not becuase I think this is a good or fair question… you could argue that since the supervisor agreed, it meant he agreed to everything, including using information.

#19

that question is pretty straightforward he is in violation because he uses information from his work to make investment decisions at another job this is the same as taking a model from one job and bringing it to another here is a schweser question: An analyst receives a research report from a colleague. The colleague’s report has an elaborate table with performance data on publicly traded stocks. The colleague says the data in the table consists of measures provided by Standard & Poor’s. The analyst finds the table a useful reference for a report she is writing. She uses several pieces of data from the table. The analyst is potentially in violation of: A) no particular standard because this is appropriate activity. B) Standard II concerning the obligations to the capital markets. C) Standard V(A) if she does not first verify the data in the table is accurate. D) Standard I© concerning the use of the work of others.

#20

D was my guess.