Hello, I just finished ethical part of CFA mock exam. I felt so disappointed when I saw a large number of my answers was wrong.
I thought I prepared well, have read through many times of books. However, in the mock exam, the testing points in the ethical stories were hide so deep, that I can hardly catch them. Some of them, even I read the answer explanation, I can hardly agree with it. For example. Q17 morning, the whole story doesn’t mention "Material Nonpublic Information " at all. How the hell it could be the answer?
Is there any way to improve this section?
they will rarely state it outright that the information is material and non public. You need to judge for yourself if the information given is material enough to an investor who might consider it when while taking investment decisions. keep practicing is all I can say. How may mocks have you done ? When’s your attempt ? It was the same issue with me but gradually I’ve improved a lot.
You need to know the standards and the violations and exceptions inside out. Read the case, and judge which standard is getting violated, consider if it is an exception. Key point: Look for the violation. It’s not a right or wrong thing, it is whether the standard is violated or not.