It’s an important subject. Everyone knows it! CFA Institute knows it! You know it! I know it!
It important for exams and it is also important for practice. In the long run, ethics do matter.
From the exam perspective, this is also one of those subjects which look very easy when you are studying. When you read something it sounds very obvious but the questions are going to be challenging.
The strategy for preparation of ethics is simple, go through the videos that we have provided below, practice the quizzes and also try to read the CFA curriculum once. While you are reading it, highlight the important pieces and read the highlighted parts one more time. And then spend the rest of the preparation time on practising questions.
The good news is the same ethics will be repeated at level II and Level III as well. Which means the whatever time you invest would also be helpful while preparing for level II and level III exams.
GIPS is that part of ethics which is less subjective, therefore probably easier to score. Also, GIPS has a big section at CFA Level III, so the efforts you are putting in now will be useful when you would be preparing for level III exams.
In general, ethics could be very subjective, it would be difficult to handle, but GIPS is not. So you can expect maybe 2 to 3 questions of GIPS to show up, out of the entire ethics section and these would be the low hanging fruits.
Happy Learning! :)
- Utkarsh Jain, CFA