How deeply do we need to know the ethics portion of the exam? I’ve been studying it for a while now and have been having trouble trying to remember all of the subpoints to the subpoints. Should we be aiming for word for word?
i think youll find that alot of people sitting for dec 08 havent even looked at ethics yet (like me). its because the concepts are quiet difficult to retain. im planning to look at it last by reading through the CFAi texts, and then a final review the month before. move on to something else.
inside and out
like the back of your f’ing hand!!!
Dang… that’s rough. This stuff can be dense.
on the test, they’ll give you some pretty vague questions. you’ll need to know the rules inside and out to be able to answer correctly. you’ll usually be able to narrow it down to two, and then you either know it or you don’t
you have to know the seven standards with sub-standards and be familiar with major tricky situations such as whether it’s ok to let the company you cover arrange transportation and pay for it if you go to an isolated area, etc.
I suggest you read it and through out the months left you do a zillion questions. Mainly because even though you might think you understand it, whilst doing questions you will find tricky scenarios that repeat themselves and only really through practice will one be able to get them correct on the exam.
Just do a ton of Qbank or Passmaster questions - if you are getting 80%-90%, you’ll be fine.
i read through it early, then reread it a few times in the last month. Lots of Qbank, reread it the day before the exam to keep it fresh. Its a major topic that is for sure, and you will see 2 part answers…if you keep reading it you will get it, and then its the easiest points on the exam.
my perception is that in case you clear all othe sections with >70 and fail in ethics,u will be fail…CFAI put much emphasis on ethics(rightly so) and hence this section is mother of all sections…so prepare it well…
DO you guys recommend schwerser or CFAI??
Akash03111982 There is no such rule as u mentioned (in case you clear all othe sections with >70 and fail in ethics,u will be fail). go thru the FAQs and u will have a better idea. The reason why ethics and FSA are given so much emphasis coz they have the maximum weightage in the exam. The trick to mastering ethics is do as many practice questions as u can. I appeared for for L1 june 08 and here i m again appearing again in dec for L1. But i did manage to score above 70 in ethics and FSA.
arent ethics and FSA the hardest part of the exam? guys, dont you have days where NOTHING goes in? what do you do? On FSA and i swear i would be on the same page for like an hour re-reading stuff i read 10mins ago
i take it from all of the above that everyone is reading through CFAi texts for ethics? Schweser not enough?? thanx
Well… I took the exam on june, and i scored over 70% on the ethics. Its really not a bad read, just read it and understand it… really alot of the stuff makes sense. Then maybe re read the main points and sub points. Thats what i did. Do practice problems in the book, thats all i did for that section. Alot of the questions on the exam is really just testing to see if you know what kind of violation they commited.
best source: CFAI book. KNOW those examples. I would even recommend downloading the Standards Handbook. But thats if you have a lot of time. Know the CFAI examples and those in Schweser’s Practice Volumes and you’ll be fine.