I DREAD ETHICS
has been the norm … . 10% …
ever since level 2, i have been scoring b/t 30%to 66% on ethics on most of the practice exams.
God help me
god help anyone who can get past their lawyer speak …
most of the times I am playing toss a coin to chooise an answer.
last time I scored a 2/12. I begain to think if it is better to waste my time to spend 40 minutes AND waste so much of my brain power AND getting confidence destroyed trying to solve ethics or,
yeps, 2 always, not that I want 2, but that’s the harsh reailty.
I have kept Ethics for the last few days! so it’s pretty much the “B” thingie you discussed above!
Level 3 ethics is harder. I sat for L3 before with minimal studying (barely got through the reading once, with minimal questions) but thought I would at least score something in ethics since I’ve done well before.
Both sections, I got below 50%.
My non-cfa-related room mate knows that I have been studying for this exam. I told him how I have been failing ethics section over and over again.
his response makes me want to do unethical things to him:
“ethics? you fail that? come on, it is all common sense! have you not taken that @%@# course in high school? I always ace that section”
i worked in fixed income and was 100% sure i got over 70 on ethics last year, i ended up getting less than 50
Interesting how much ethics seems to be dreaded, at least on this thread. Although I got 50-70% on the L2 exam I failed, I got >70% on the exam I passed. Same with L1. And I’m convinced that the “ethics adjustment” may have played a role in my passing both times.
So by and large ethics has been my friend on these exams. Plus I’d much rather have ethics to start the PM session than some whacked derivatives item set thrown in from from outer space. At least we all know where ethics is coming from, whereas for some of these other questions - ???
Ethics is not hard - you can learn the goddamn book by heart, and still fail, because you cannot decipher what the CFAI wants from you on the actual exam.
It is like learning that 2 + 2 = 4, and being asked on the exam something along !! * !! - ?
Hans Gruber recently met with his financial advisor, Roy Rogers, CFA to discus his recent windfall of $640 million in negotiable bearer bonds left to him after the death of his business partner Joseph Takagi. Takagi was originally born in Japan but moved to the US for college studying, gaining dual citizenship soon after. Hans, on the other hand, is a German nationalist who renounced his affiliation to Germany recently and is temporarily staying in the US, but will soon move to an undisclosed beach hoping to earn 20% returns. Roy Rogers, CFA is an american born citizen bound by the CFA Code and standards. Which laws and regulations are the most appropriate for Roy Rogers to follow while managing Hans Gruber’s money?
This is the type of convoluted crap that will be thrown at us come test day!
I think this question would have been better if Hans Gruber’s financial advisor was John McClane, CFA and his office was in the Nakatomi Plaza.
yippee ki yay, mother effer
It’s tricky, but it’s not that hard.
Print the code and standards from the CFA site on a double sided piece of paper
Fold twice, put in back pocket
Review each time you head to bathroom and any other free moment you have (10 minutes on the subway, etc.)
Spend at least 30 minutes / day doing ethics item sets for the second to last week
Do the painfully boring Schweser and CFAI ethics quizzes the week before the test
You should be fine. And as someone mentioned earlier, the ethics adjustment is real. I’m fairly convinced it pushed me over last year, although I obviously have no way of knowing.
when people say: “the ethics adjustment for level 3” are they saying it is distinctly harder than what’s in the book already? cuz i look at the l3 questions EOC book material and it doesn’t look any worse than L2 to me.
should i expect the test to be materially harder than the EOC L3 book on ethics?
Ethics is total bullshit. You cannot prepare for it, you can only read the section immediately before the test and hope you don’t get screwed by stupid questions.
The notion that ethics can be “taught” in and of itself is fucking ridiculous. This section should honestly just be thrown out. GIPS can go with it. It won’t though because CFAI has to push their product.
in the ethics EOC questions, i did not see a lot of “recommended procedures vs. required procedures” gotcha questions. is the exam reflective of the EOC questions or is it a whole other level of parsing recommended vs. required?
The “ethics adjustment” from what I have heard is that if you are borderline and you scored well on ethics they pass you. If you are borderline and <50% on ethics, they fail you. Does anyone know if this is accurate?
jonh mcclane gonna die in the last die hard…CFA:a good day to die hard.