{"id":239,"date":"2019-08-07T22:04:02","date_gmt":"2019-08-07T22:04:02","guid":{"rendered":"https:\/\/analystprep.com\/cfa-level-1-exam\/?p=239"},"modified":"2025-02-11T20:40:15","modified_gmt":"2025-02-11T20:40:15","slug":"learning-sessions-curriculum-ethical-and-professional-standards","status":"publish","type":"post","link":"https:\/\/analystprep.com\/cfa-level-1-exam\/ethical-and-professional-standards\/learning-sessions-curriculum-ethical-and-professional-standards\/","title":{"rendered":"Learning Sessions – Ethical and Professional Standards"},"content":{"rendered":"

Study Session 1<\/h2>\n

Reading 1 (56 in 2022) – Ethics and Trust in the Investment Profession<\/h3>\n

Read our in-depth summary of Ethics and Trust in the Investment Profession<\/span><\/a><\/h5>\n

– LOS 1a:\u00a0explain ethics
\n– LOS 1b: describe the role of a code of ethics in defining a profession
\n– LOS 1c: describe professions and how they establish trust;
\n– LOS 1d: describe the need for high ethical standards in the investment industry
\n– LOS 1e: explain professionalism in investment management;
\n– LOS 1f: identify challenges to ethical behavior
\n– LOS 1g: distinguish between ethical and legal standards
\n– LOS 1h: describe and apply a framework for ethical decision-making<\/p>\n

Reading 2 (57 in 2022) – Code of Ethics and Standards of Professional Conduct<\/span><\/h3>\n
Read our in-depth\u00a0summary of\u00a0the Code of Ethics and Standards of Professional Conduct<\/span><\/a><\/span><\/h5>\n

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

Reading 3 (58 in 2022) – Guidance for Standards I-VII<\/span><\/h3>\n
Read our summary of Guidance for Standards I-VII<\/span><\/span><\/a><\/h5>\n

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

Reading 4 (59 in 2022) – Introduction to<\/span>
\nthe Global Investment Performance Standards (GIPS)<\/span><\/h3>\n
Read our summary of introduction to the GIPS Standards<\/span><\/span><\/a><\/h5>\n

-LOS 59a: explain why the GIPS standards were created, what parties the GIPS standards apply to, and who is benefitted by the standards;<\/span><\/a><\/p>\n

-LOS 59b: describe the key concepts of the GIPS standards for firms;<\/a><\/span><\/p>\n

– LOS 59c: explain the construction and purpose of composites in performance reporting<\/a><\/span><\/p>\n

-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\u2019s definition of discretion.<\/a><\/span><\/p>\n

-LOS 59e: describe the concept of independent verification.<\/a><\/span><\/p>\n

Reading 5 –\u00a0The GIPS Standards<\/span><\/h3>\n
Read our in-depth summary of the GIPS Standards<\/span><\/span><\/a><\/h5>\n

– LOS 5a: describe the key features of the GIPS standards and the fundamentals of compliance
\n– LOS 5b: describe the scope of the GIPS standards with respect to an investment firm\u2019s definition and historical performance record
\n– 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
\n– LOS 5d: describe the nine major sections of the GIPS standards<\/p>\n

NEW READING IN 2022<\/strong><\/span><\/h3>\n

Reading 60- Ethics Application<\/span><\/h3>\n
Read our in-debt summary of the Ethics Application<\/a><\/span><\/h5>\n

-LOS 59a: evaluate practices, policies, and conduct relative to the CFA Institute Code of Ethics and Standards of Professional Conduct;<\/p>\n

-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<\/p>\n

Ethical and Professional Standards (2024)<\/h1>\n

LM 1 – Ethics and Trust in the Investment Profession<\/h2>\n

LOS a: Explain ethics<\/a>
\nLOS b:\u00a0Describe the role of a code of ethics in defining a profession<\/a>
\nLOS c: Describe professions and how they establish trust<\/a>
\nLOS d: Describe the need for high ethical standards in investment management<\/a>
\nLOS e: Explain professionalism in investment management<\/a>
\nLOS f: Identify challenges to ethical behavior<\/a>
\nLOS g: Compare and contrast ethical standards with legal standards<\/a>
\nLOS h: Describe a framework for ethical decision making<\/a><\/p>\n

LM 2 – Code of Ethics and Standards of Professional Conduct<\/h2>\n

LOS a: Describe the structure of the CFA Institute Professional Conduct Program and the process for the enforcement of the Code and Standards<\/a>
\nLOS b: Identify the six components of the Code of Ethics and the seven Standards of Professional Conduct<\/a>
\nLOS c: Explain the ethical responsibilities required by the Code and Standards, including the sub-sections of each Standard<\/a><\/p>\n

LM 3 – Guidance for Standards I-VII<\/h2>\n

LOS a: Demonstrate the application of the Code of Ethics and Standards of Professional Conduct to situations involving issues of professional integrity<\/a>
\nLOS b: Identify conduct that conforms to the Code and Standards and code that violates the Code and Standards<\/a>
\nLOS c:\u00a0Recommend practices and procedures designed to prevent violations of the Code of Ethics and Standards of Professional Conduct<\/a><\/p>\n

LM 4 – Introduction to the Global Investment Performance Standards<\/h2>\n

LOS a: Explain why the GIPS standards were created, who can claim compliance, and who benefits from compliance<\/a>
\nLOS b: Describe the key concepts of the GIPS Standards for firms<\/a>
\nLOS c: Explain the purpose of composites in performance reporting<\/a>
\nLOS d: 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<\/a>
\nLOS e: Describe the concept of independent verification<\/a><\/p>\n

LM 5 – Ethics Application<\/h2>\n

LOS a: Evaluate practices, policies, and conduct relative to the CFA Institute Code of Ethics and Standards of Professional Conduct<\/a>
\nLOS b: Explain how the practices, policies, and conduct do or do not violate the CFA Institute Code of Ethics- and Standards of Professional Conduct<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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:\u00a0explain ethics – LOS 1b: describe the role of a…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-239","post","type-post","status-publish","format-standard","hentry","category-ethical-and-professional-standards","blog-post","no-post-thumbnail","animate"],"acf":[],"yoast_head":"\nEthical & Professional Standards | CFA Level 1 - AnalystPrep<\/title>\n<meta name=\"description\" content=\"Explore key ethical and professional standards for the CFA Level 1 exam, including integrity, professionalism, and ethical decision-making.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/analystprep.com\/cfa-level-1-exam\/ethical-and-professional-standards\/learning-sessions-curriculum-ethical-and-professional-standards\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethical & Professional Standards | CFA Level 1 - 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