if your colleague is neither a CFA or a candidate, and you find him in violation of CFA institute standards, do you have to report him to CFA institute? I believe you only need to report him to your supervisor. It’s none of the business with CFA institute. However, in Schwser mock exam 1 afternoon session, the first one is such a ridiculous thing. CFA institute is nothing but a money-making exam provider (definately for-profit), such problems seems to position it as United Nations or CIA or FBI.
I’m now very suspicous about the quality of Schweser mock exam, on page 47, problem 2, this is an appreciation for the past performance, how can the answer be (A)? Moreover, Robert is in violation of Knowledge of the Law.
Portfolio Wrote: ------------------------------------------------------- > I’m now very suspicous about the quality of > Schweser mock exam, on page 47, problem 2, this is > an appreciation for the past performance, how can > the answer be (A)? Moreover, Robert is in > violation of Knowledge of the Law. After reading through some of the questions and answer choices in the first exam morning session vol. 6, I am not certain if I should finish all the practice exams.
thank you for confirming my suspicion. In problems 4 of Exam 1, afternoon session, the police already wrote a ticket, and the answer said he didn’t violate knowledge of law? This is really funny.
Ethics are tough, I will agree!
Tough is one thing, being ridiculous is another thing.
So any new plan of action? I will still look through the questions but am not sure if I should waste time taking these practice exams.
i would do them anyway just because it’s some 720 more opportunities to practice the material
So whats the deal with Q2 page 47 Book 6 Schweser ? Is A correct or not ? Also, Q125 Page 16 Book 6 is ridiculous. It says analyst can go ahead and trade on material non-public info after making reasonable efforts to make it public.
thunderanalyst Wrote: > > Also, Q125 Page 16 Book 6 is ridiculous. It says > analyst can go ahead and trade on material > non-public info after making reasonable efforts to > make it public. WHAT?! I’D NOT TRUST THAT STATEMENT. those are 2 violations, first you must not make any material info public. second trading on that is CRIMINAL, not only violation of soph, BUT CRIMINAL FROM SEC PERSPECTIVE TOO. if you want to go to jail, sure go ahead and trade all you can.
sorry, Q16 page 125
Make sure to read the Ethics book a few times. There’s typically a sentence within the ethics book that reveals the correct answer to the question on the exam. I wouldn’t trust Schweser to interpret the ethics book for you.
Portfolio Wrote: ------------------------------------------------------- > if your colleague is neither a CFA or a candidate, > and you find him in violation of CFA institute > standards, do you have to report him to CFA > institute? > > I believe you only need to report him to your > supervisor. It’s none of the business with CFA > institute. > > However, in Schwser mock exam 1 afternoon session, > the first one is such a ridiculous thing. > > CFA institute is nothing but a money-making exam > provider (definately for-profit), such problems > seems to position it as United Nations or CIA or > FBI. That’s nuts. Reporting a non-CFAI member for violation of a CFAI policy? Sounds pretty cult-like to me.
> That’s nuts. Reporting a non-CFAI member for violation of a CFAI policy? Sounds pretty cult-like to me. Outrageous! But reporting a CFAI member for violation of a CFAI policy to a non-CFAI authority is ok I suppose (like law enforcement).
From what I understand from Ethics is that you are not REQUIRED to report anybody to to the authorities CFA or GOVERNMENT for any infraction of the law but rather disassociate yourself from the activity and then visit legal counsel to find out your legal OBLIGATIONS
prometheus231 Wrote: ------------------------------------------------------- > From what I understand from Ethics is that you are > not REQUIRED to report anybody to to the > authorities CFA or GOVERNMENT for any infraction > of the law but rather disassociate yourself from > the activity and then visit legal counsel to find > out your legal OBLIGATIONS You are not obligated, but ethical standards expect of you to report another member/candidate that you find has violated CFA code of ethics. For instance if you come across a CFA member who is tipping about insider info, you should report him, because he is not in the best interest of investment profession.
pepp Wrote: ------------------------------------------------------- > prometheus231 Wrote: > -------------------------------------------------- > ----- > > From what I understand from Ethics is that you > are > > not REQUIRED to report anybody to to the > > authorities CFA or GOVERNMENT for any > infraction > > of the law but rather disassociate yourself > from > > the activity and then visit legal counsel to > find > > out your legal OBLIGATIONS > > > You are not obligated, but ethical standards > expect of you to report another member/candidate > that you find has violated CFA code of ethics. For > instance if you come across a CFA member who is > tipping about insider info, you should report him, > because he is not in the best interest of > investment profession. that is right, but if it is a non CFA member, that still holds right? Not obligated, but SUGGESTED, right?