The CFA questions are fair game. Whether easy or difficult, you can go back to the text or external sources to check on the right answer and know your mistakes; EXCEPT with Ethics. Doesn’t matter if you have your books open, your smart phone on, or you can answer in a group’s discussion; Ethics can always be misleading. In the exam, there is that wrong answer that you can eliminate, and those 2 probable correct answers. Which answer to choose depends on which assumption to take. Do you assume the exclusion of this; or the inclusion of that? Do you assume all measures are considered, or some measures were neglected?
You can know Ethics material inside out. You can know the right answer depending on what scenario the writer is considering. But what’s missing, is reading the writer’s mind. The answer can be a straightforward without overthinking the case, or it might need more elaboration. You will know only after the answer is revealed. It can go both ways, it all depends on how the writer of the question wants it.
In real life, there is no need for assumptions. Ethics either applies to you or to your subordinates. If it applies to you, then you know the whole situation and you know the rules. If it applies to your subordinates and you don’t have all the information, just pick up the iFFing phone and call somebody, ask for relevant documents, check, verify. The practice of assuming things is detrimental to all what’s right; to diligence, prudent, care, and the integrity of the market. You shouldn’t assume things, you should verify. So stop getting us those obscure questions that add nothing. CFA Ethics are very commendable. Ethics questions are not, they’re a guessing game.
Ethics was a style of life to me. I valued ethics highly in all manners of life. The only unethical act I commit is that finding French to be good people and having many of them as my friends. But after diving into CFA’s world of Ethics’ questions with all of their dark corners, I feel my personality is changing. Am turning into the dark side.
Now I have a new plan, I’m calling it The Plan.
The Plan is to spend a full day in the main toilet of a company. Everyday a different company. I’ll listen to the conversations and take trade actions according to the information am gathering. I’m calling this the Tiles Theory (bigger in size than Mosaic). In a year I’ll become multi billionaire. I’ll fund the establishment of a new Financial Charter and I’ll be the first to get this Charter. I’ll sell my equity holdings and use half of the money to buy a toilet paper factory. The other half I’ll donate to a charity that installs portable toilets in poor areas.
And this is ETHICAL ADJUSTMENT
If I fail Band 10 while in Ethics I get <50 ; I’ll quit the whole program.
You can know Ethics material inside out. You can know the right answer depending on what scenario the writer is considering. But what’s missing, is reading the writer’s mind. The answer can be a straightforward without overthinking the case, or it might need more elaboration. You will know only after the answer is revealed. It can go both ways, it all depends on how the writer of the question wants it.
In real life, there is no need for assumptions. Ethics either applies to you or to your subordinates. If it applies to you, then you know the whole situation and you know the rules. If it applies to your subordinates and you don’t have all the information, just pick up the iFFing phone and call somebody, ask for relevant documents, check, verify. The practice of assuming things is detrimental to all what’s right; to diligence, prudent, care, and the integrity of the market. You shouldn’t assume things, you should verify. So stop getting us those obscure questions that add nothing. CFA Ethics are very commendable. Ethics questions are not, they’re a guessing game.
Ethics was a style of life to me. I valued ethics highly in all manners of life. The only unethical act I commit is that finding French to be good people and having many of them as my friends. But after diving into CFA’s world of Ethics’ questions with all of their dark corners, I feel my personality is changing. Am turning into the dark side.
Now I have a new plan, I’m calling it The Plan.
The Plan is to spend a full day in the main toilet of a company. Everyday a different company. I’ll listen to the conversations and take trade actions according to the information am gathering. I’m calling this the Tiles Theory (bigger in size than Mosaic). In a year I’ll become multi billionaire. I’ll fund the establishment of a new Financial Charter and I’ll be the first to get this Charter. I’ll sell my equity holdings and use half of the money to buy a toilet paper factory. The other half I’ll donate to a charity that installs portable toilets in poor areas.
And this is ETHICAL ADJUSTMENT
If I fail Band 10 while in Ethics I get <50 ; I’ll quit the whole program.
