Any tips on how to actually study for this properly? Every year in all levels I’m either <50 or >70. The topic area is incredibly vague. Appropriate = required, while recommended = more conservative.
Pretty sure I failed this year all because of ethics. Just probing to see how people study for this. How do you look at ethics as “gimme” points. That’s the only way the scale will tip for me I think next year.
i think ethics can be tricky if you are not a native english speaker because one word difference makes a huge implication in the vignette.
there is no special trick, all you can do is to practice, try to map out the different scenarios on how they might test you. the good thing is L2 and L3 are pretty much teh same, so you just have to recognize what they are trying to convey in the question/ vignette and usually the follow a similar pattern.
Also, be very careful not to mix up recommendations with the requirements. Do not be attempted to choose the most conservative answer because it is not always true.
CFAI EOC examples and read the Asset Manager Code
Do as many examples as you can and remember the common areas that come up. It can be confusing but ask yourself this question for every ethics question… (Is he/she allowed to do this?). Also, I would look at the question and then look at the paragraph in the vignette concerning the question, they tend to follow in sequence. If you’re in the situation where it’s more ambiguous then choose the more conservative approach. Remember the 7 (or is it 8?) sections of the code and what the integral part of each is, because then you can relate an answer to it and you’ll know which part of the code the question is directed at. Also, when you read the question, get a firm grip on the relationships between all the parties involved as it gives a much clearer picture of the issue at hand. The questions relating to material non-public info for example are always easy as the premise is that you have to put the public and client’s interests first, anything else would be a violation. As said earlier though, by doing a lot of questions, you should be alright.
I thought I did bad on eithic this year, but it ended up okay , keep reading the examples from CFAI book , and do tons of questions.
are ethics the same for level 2 and 3? Or do we have new things added like we did in level 2 like research objectivity standards?
my ethics n standards always in the 51-70 band…=(
Read all of the CFAI text and you’ll be >70.