Unethical Ethics

  • There’s no evidence that the firm has considered this, hence they’re in violation

  • There’s no evidence that the firm did not considered this, hence they’re in compliance. What an adorable firm

  • Mark as a supervisor is not in violation as his subordinates were acting in a discrete manner

  • Mark as a supervisor is in violation as he should have known what’s cooking between his subordinates. The firm should assign a pimp to coach Mark

  • Assumptions of exclusion, assumptions of inclusion, evidence of conducting, lack of evidence of conducting, no mention of lack of this,…

And what’s with talking about material nonpublic in bathrooms?

In ethics:

Mastering the material is of no value with such subjective twisted-perspective questions.

Educated guessing, will earn you zero, as the question is purposefully designed to deceive you.

Guessing, you’ll have a 33.33% of getting the correct answer

What a waste of studying times

For life, take this ethical lesson: don’t bribe, dong get bribed, don’t lie, don’t be a crook, don’t be an a$$. That’s it.

i’m even contemplating choosing 2 answers which I think are correct and then choosing the answer i think is least likely correct out of those 2 in the knowledge that CFAI likes to trip us up.

The mocks are unnecessarily difficult…I know what is ethical and what isn’t but why the BS!!

Anyone else consider this approach with Ethics?

Ethics in Level III is strange. It’s basically the same stuff as last level, but they try to make it harder by all means.

More Ethics like in the mocks will probably just lower the MPS.

CFA mock - reading:obscure puzzles (Aka, Ethics).

The case says

“I have analyzed the new regulations and have found that all of the local requirements are part of regulations recently introduced in Europe, where only a few of our clients reside.”

which law to implement. Correct answer is Europe because it’s the stricter law.

From where does it say it’s stricter? Is it from " all the local law is part of the Eurpoean’s"? How this means stricter? Isn’t it possible (actually more likely) for the other parts of the European law to be pertaining to something specific to Europe that are less strict, such as filings to the European stock markets or other paper works pertaining to the European markets.

Ethics questions are an ugly game. It’s far from understanding Ethics. Congrats CFAI, you made us hate Ethics.

CFA readings are written by economists, financial experts, statisticians, mathematicians, and analysts. Those are cool guys.

Ethics is written by lawyers (I presume). Already they gained more weight in the exam. And there’s the mythical Ethics adjustment. I hope they don’t over complicate the charter and tilt it away from it’s main merits.


Tommy83 : Good one. I am a die hard Sienfeld fan.

Yes I am seriously considering this one on the questions where I have even 1% doubt.

Ethics has 10-15% for level 3 this year. I hope they stick to 10% and that too in 2 item sets in the afternoon. I have not seen them in AM yet so I don’t even know how will they look like.

Good luck.

Phew, I thought there was something wrong with me when I couldn’t for the life of me reason that problem out. I could not just find anything that would indicate Europe had stricter laws. Good to see I’m not alone.

Reading 2 Q81:

“If the IPO is oversubscribed, he excludes his wife’s discretionary non-fee-paying account so that he is not accused of bias when allocating the oversubscribed IPOs.”

Does Danko violate the CFA Institute Standards when he allocates oversubscribed IPO issues?

Correct answer is A: No. I thought that he should treat all clients equally? Wife or not, her account is just like any other. He’s actually not treating her fairly in comparison to all others. What am I missing here?

She doesn’t pay fees…

TGIF12: No, that is not the explanation given. Since it is his wife’s account, he is the beneficiary and so he cannot allocate shares of oversubscribed IPO.

Trying to crack the code (Disclosure: crack is an illegal substance*)

The cases of vague failing supervisory role seems to take place when a written evidence can be obtained. Eg, if Tom informed potential clients verbally of his referral fees, his supervisor Jerry will be in violation of his supervisory duties (he could have confirmed whether the right practices were conducted by his subordinates).

* this is an incorrect statement, crack is crucial in many medical practices^. You failed.

^ this is an incorrect statement, it’s crucial in SOME medical practices. You double failed