As I said in the other thread, I passed the CFA L1 this June and have had a rather good result in the Ethics section you are talking about.
Personally, I studied Ethics at the end of everything. But, dude, chill - you have more than 10 months before the exam, don’t rush, but don’t start too late also. Here are some of the tips I received before studying http://bit.ly/How-to-prepare-Ethics
I think Schweser does an adequate job in ethics, and honestly, the only way to study ethics is to practice MANY MANY MANY questions and see the pattern.
I don’t think memorizing the code of ethics from CFAI texts will guarentee you a pass because there are always specific story lines and specific wording on the questions that you should be focusing on.
If you recognize those patterns, you will likely pass, if you don’t, even if you understand each definition, you will be tricked.
I don’t have a finance, econ or accounting undergrad, but I do have Canada’s basic securities license (CSC) and four years in the business. I think anyone without that sort of experience/background would really struggle.
I have done my CSC. Just passed and looking for “meaningful” work. I do work with a financial consulting firm, but my role is more in the marketing side.
I do know a few of my friend who are from finance background and came in Band 5 and a few like me, came in Band 8. I do have to say a fail is a fail is a fail, but that doesn’t mean one can’t do it. Its certainly a much uphill walk, though.
if you are in the business and you are familiar with the financial products, you are a one step ahead of some, but probably not as prepared as others.
The truth is, everyone goes into the program with different expectation, some just to try their luck, some think it’s an entrance ticket, i would just advise anyone to actually enjoy the ride, because it’s a long one!