Is ethics in level 3 the same as in level 2?

CFA Level III Ethics
#1

Is ethics in level 3 the same as in level 2 ?

from reading it, it looks like. Am I wrong?

#2

Yes. The Code and Standards is the same across all three levels.

However, the “stub material” is different. It will have changed from “Soft Dollars” to “Asset Manager Code of Conduct”. You will need to study it.

#3

I know on the past exams that people recommend reading the Ethics material directly from the CFAI books. I have been using Schweser on everything. Do you recommend reading the CFAI Ethics material for the Level III exam?

#4

I’m definitely putting more emphasis on this “stub” material this time around.

#5

Also, the emphasis in Level III Ethics is on compliance procedures: less “What did Bob do wrong?” and more “What should have been done to ensure that Bob didn’t (or couldn’t) do something wrong?”

#6

Is ethics only in the PM section, or can it pop up in the AM? Is that an ethical question to ask?

#7

I’ve never seen it in the morning sessions that CFA Institute has published.

#8

Thanks everyone.

#9

S2000, do you recommend reading the CFAI Ethics material for the Level III exam or will Schweser suffice?

#10

I always recommend reading the Ethics material from CFA Institute. They do a very good job with Ethics.

#11

^booya…also do the practice problems in the CFAI book :wink:

#12

what is stub???

#13

That’s when you whack you toe on the leg of a coffee table.

It hurts like blazes.