Is Ethics going to be tested only in the afternoon part of the exam (ie item sets) or also in the essays? When looking through the past essay exams I do not see any ethics questions…
In theory it could be tested in either part, but in practice it’s been tested only in the afternoon for as long as I can recall.
Thank you!
My pleasure.
Do we happen to know which topics will be tested in the AM section or can basically any reading come up?
Basically any reading can be tested in the AM section and candidates do not know what will be tested. There are some key parts that are tested almost each year but for the rest of material, CFAI is very creative. You’ll notice this by practicing prior AM sessions. Good luck!
In theory everything is fair game, but in reality you likely won’t see any Ethics or GIPS questions on the AM portion. What you can count on seeing however, from data based on the past 10 years of exams, is at least one (possibly/probably more than one) item set for both Individual and Institutional PM. Alternative Investments and Derivatives have been the least commonly tested on the AM exam but they have shown up here and there. All the other topics have represented a range of 5% to 9% (each) of total exam questions over the past 10 years and are certainly fair game for an AM item set.
It’s a safe bet that ethics and GIPS won’t be tested in the morning.
And it’s the only safe bet.
GIPS appeared once a decade ago.
Thanks guys!
Hence, “safe bet”, not “_ sure _ bet”.