Ethics question on exam content

on the mock test.

Sanju calls a meeting of the marketing supervision division to discuss several ideas she heard at the recent CFA Institute Annual Conference. She informs the team that many regulators have started using Level I and Level II of the CFA exams as a proxy for their own regulatory exams. Any candidate who passes these exams does not have to take part in the local regulator’s mandatory licensing exams for individuals. Sanju expresses her opinion that this is not appropriate because the CFA exam content does not cover local content. Therefore, she thinks CFA Institute should discourage this trend. Sanju also adds, “Many of CFA Institute’s advocacy policies do not apply to our local environment. I believe CFA Institute needs to pay attention to the advocacy concerns of frontier markets as well.”

Do Sanju’s comments regarding the use of CFA exams as a regulatory licensing tool and/or the CFA advocacy activities violate the CFA Code or Standards?

  1. Yes, regarding CFA exam content.
  2. No.
  3. Yes, regarding CFA Institute’s advocacy programs.

I put down 1. apparently the answer is 2. The justification for this is “Sanju did not disclose any aspect of the CFA exam considered to be confidential and is allowed to express disagreement with CFA Institute’s policies, procedures, and/or advocacy positions as per Standard VII(A)–Conduct as Members and Candidates in the CFA Program.” how am i supposed to determine which part of the exam content is confidential versus which part isn’t. Questions/exam weightings are confidential and whether exams covering local/general content is not? why isn’t that confidential? to me that sounds confidential too. can anyone shed some light on this? or provide some kind of a definitive list here of what’s considered confidential and what isn’t? these questions seem a bit ridiculous honestly and really quite exasperating.

The exam questions are confidential but the exam content is the curriculum you’re studying. You can say “that material isn’t covered in CFA Level 2” and not be in violation. A violation would be something like “this topic was in the curriculum but they didn’t even have one test question on it!”

ok thank you