How is Level 3 Ethics different than L2? I just took a cursory glance inside the CFA curriculum and it looks like the exact same material. I guess the more important question is…is Ethics tested differently in L3? Can it show up as one of the short answer/essay questions or will it be multiple choice again? Can someone also kindly review the format of the L3 exam in detail? As in how many short questions? Or these questions more like short answers or essay type? The point/grading system on these short answers. Anyways, I am obviously starting to study now and want a L3 repeater to give me the inside scoop, so i can form a study plan that suits me. Thank you, Kelly
ANYONE?
Hi, The thing that I found different form Level I and Level II is that you won’t be asked to specifically point out a standard which has been violated. Rather, the question would state something like: has ANY of the standards been violated?
Zain - in doing CFAI ethics EOC questions, it seems that they DO in fact ask you to point out which standards have been violated…are you speaking from experience on the actual exam?
Schweser Secret Sauce suggests knowing the difference between required and recommended procedures of Asset Manager Code, etc.
Ethics questions on the L3 exam have a very high degree of difficulty. That’s how it’s different from L2 and, especially, L1. Check out the 2009 scores thread to see what I mean.