Guidance for Standards I–VIILocked: included in All Access

The working detail behind each of the seven Standards of Professional Conduct: what every sub-standard requires, how it is applied to real situations, where the line between allowed and not allowed sits, and which procedures prevent violations. This is the most heavily tested part of Ethics.

1. 1. Standard I: ProfessionalismStandard I asks five things of every member and candidate: know and follow the stricter rule, stay independent, never mislead, never act dishonestly, and be competent for the job you actually do.Locked: included in All Access16 min
2. 2. Standard II: Integrity of Capital MarketsMarkets only work if no one trades on secrets or fakes prices: never act on material nonpublic information, and never distort prices or volume to mislead.Locked: included in All Access15 min
3. 3. Standard III(A)–(B): Loyalty, Prudence, Care and Fair DealingClients come first, ahead of the employer and yourself, and every client gets a fair (not identical) chance at your recommendations and trades.Locked: included in All Access15 min
4. 4. Standard III(C)–(E): Suitability, Performance Presentation and ConfidentialityKnow the client before you advise, present performance fairly and completely, and keep what clients tell you to yourself.Locked: included in All Access15 min
5. 5. Standard IV: Duties to EmployersBe loyal to your employer while you work there, get written consent before taking outside pay that could conflict, and if you supervise people, make reasonable efforts to prevent and detect their violations.Locked: included in All Access14 min
6. 6. Standard V: Investment Analysis, Recommendations, and ActionsDo the homework before you recommend, tell clients clearly what you do, what it costs and what could go wrong, and keep the records that prove it.Locked: included in All Access15 min
7. 7. Standard VI: Conflicts of InterestAvoid conflicts where you can and disclose the rest clearly, trade for clients and the employer before yourself, and tell people when someone is paying for a referral.Locked: included in All Access14 min
8. 8. Standard VII: Responsibilities as a CFA Institute Member or CFA CandidateProtect the integrity of CFA Institute programmes, keep exam content confidential, and describe the CFA designation and your candidacy accurately, without exaggeration.Locked: included in All Access11 min