Limited Time Offer: Save 10% on all 2021 and 2022 Premium Study Packages with promo code: BLOG10    Select your Premium Package »

Learning Sessions – Ethical and Professional Standards

Learning Sessions – Ethical and Professional Standards

Study Session 1

Reading 1 (56 in 2022) – Ethics and Trust in the Investment Profession

Read our in-depth summary of Ethics and Trust in the Investment Profession

– LOS 1a: explain ethics
– LOS 1b: describe the role of a code of ethics in defining a profession
– LOS 1c: describe professions and how they establish trust;
– LOS 1d: describe the need for high ethical standards in the investment industry
– LOS 1e: explain professionalism in investment management;
– LOS 1f: identify challenges to ethical behavior
– LOS 1g: distinguish between ethical and legal standards
– LOS 1h: describe and apply a framework for ethical decision-making

Reading 2 (57 in 2022) – Code of Ethics and Standards of Professional Conduct

Read our in-depth summary of the Code of Ethics and Standards of Professional Conduct

– LOS 2a: describe the structure of the CFA Institute Professional Conduct Program and the process for the enforcement of the Code and Standards
– LOS 2b: state the six components of the Code of Ethics and the seven Standards of Professional Conduct
– LOS 2c: explain the ethical responsibilities required by the Code and Standards, including the sub-sections of each Standard

Reading 3 (58 in 2022) – Guidance for Standards I-VII

Standard I – Professionalism

Standard II – Integrity of Capital Markets

Standard III – Duties to Clients and Prospective Clients

Standard IV – Duties to Employers

Standard V – Investment Analysis, Recommendations, and Action

Standard VI – Conflicts of Interest

Standard VII – Responsibilities as a CFA Institute Member or CFA Candidate

– LOS 3a: demonstrate the application of the Code of Ethics and Standards of Professional Conduct to situations involving issues of professional integrity
– LOS 3b: distinguish between conduct that conforms to the Code and Standards and Conduct that violates the Code and Standards
– LOS 3c: recommend practices and procedures designed to prevent violations of the Code of Ethics and Standards of Professional Conduct

Reading 4 (59 in 2022) – Introduction to
the Global Investment Performance Standards (GIPS)

Read our summary of introduction to the GIPS Standards

– LOS 4a: explain why the GIPS standards were created, what parties the GIPS standards apply to, and who is served by the standards
– LOS 4b: explain the construction and purpose of composites in performance reporting
– LOS 4c: explain the requirements for verification

2022 LOSes

-LOS 59a: explain why the GIPS standards were created, what parties the GIPS standards apply to, and who is benefitted by the standards;

-LOS 59b: describe the key concepts of the GIPS standards for firms;

– LOS 59c: explain the construction and purpose of composites in performance reporting

-LOS 59d: describe the fundamentals of compliance, including the recommendations of the GIPS Standards with respect to the definition of the firm and the firm’s definition of discretion.

-LOS 59e: describe the concept of independent verification.

Reading 5 – The GIPS Standards

Read our in-depth summary of the GIPS Standards

– LOS 5a: describe the key features of the GIPS standards and the fundamentals of compliance
– LOS 5b: describe the scope of the GIPS standards with respect to an investment firm’s definition and historical performance record
– LOS 5c: explain how the GIPS standards are implemented in countries with existing standards for performance reporting and describe the appropriate response when the GIPS standards and local regulations conflict
– LOS 5d: describe the nine major sections of the GIPS standards

NEW READING IN 2022

Reading 60- Ethics Application

Read our in-debt summary of the Ethics Application

Learning Objectives

Standard I – Professionalism

Standard II – Integrity of Capital Markets

Standard III – Duties to Clients and Prospective Clients

Standard IV – Duties to Employers

Standard V – Investment Analysis, Recommendations, and Action

Standard VI – Conflicts of Interest

Standard VII – Responsibilities as a CFA Institute Member or CFA Candidate

-LOS 59a: evaluate practices, policies, and conduct relative to the CFA Institute Code of Ethics and Standards of Professional Conduct;

-LOS 60b: explain how the practices, policies, and conduct do or do not violate the CFA Institute Code of Ethics and Standards of Professional Conduct

Featured Study with Us
CFA® Exam and FRM® Exam Prep Platform offered by AnalystPrep

Study Platform

Learn with Us

    Subscribe to our newsletter and keep up with the latest and greatest tips for success
    Online Tutoring
    Our videos feature professional educators presenting in-depth explanations of all topics introduced in the curriculum.

    Video Lessons



    Sergio Torrico
    Sergio Torrico
    2021-07-23
    Excelente para el FRM 2 Escribo esta revisión en español para los hispanohablantes, soy de Bolivia, y utilicé AnalystPrep para dudas y consultas sobre mi preparación para el FRM nivel 2 (lo tomé una sola vez y aprobé muy bien), siempre tuve un soporte claro, directo y rápido, el material sale rápido cuando hay cambios en el temario de GARP, y los ejercicios y exámenes son muy útiles para practicar.
    diana
    diana
    2021-07-17
    So helpful. I have been using the videos to prepare for the CFA Level II exam. The videos signpost the reading contents, explain the concepts and provide additional context for specific concepts. The fun light-hearted analogies are also a welcome break to some very dry content. I usually watch the videos before going into more in-depth reading and they are a good way to avoid being overwhelmed by the sheer volume of content when you look at the readings.
    Kriti Dhawan
    Kriti Dhawan
    2021-07-16
    A great curriculum provider. James sir explains the concept so well that rather than memorising it, you tend to intuitively understand and absorb them. Thank you ! Grateful I saw this at the right time for my CFA prep.
    nikhil kumar
    nikhil kumar
    2021-06-28
    Very well explained and gives a great insight about topics in a very short time. Glad to have found Professor Forjan's lectures.
    Marwan
    Marwan
    2021-06-22
    Great support throughout the course by the team, did not feel neglected
    Benjamin anonymous
    Benjamin anonymous
    2021-05-10
    I loved using AnalystPrep for FRM. QBank is huge, videos are great. Would recommend to a friend
    Daniel Glyn
    Daniel Glyn
    2021-03-24
    I have finished my FRM1 thanks to AnalystPrep. And now using AnalystPrep for my FRM2 preparation. Professor Forjan is brilliant. He gives such good explanations and analogies. And more than anything makes learning fun. A big thank you to Analystprep and Professor Forjan. 5 stars all the way!
    michael walshe
    michael walshe
    2021-03-18
    Professor James' videos are excellent for understanding the underlying theories behind financial engineering / financial analysis. The AnalystPrep videos were better than any of the others that I searched through on YouTube for providing a clear explanation of some concepts, such as Portfolio theory, CAPM, and Arbitrage Pricing theory. Watching these cleared up many of the unclarities I had in my head. Highly recommended.