Ethics - Level 1 vs.Level 2

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dwheats

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Failed ethics on level 1 as I did not read it - I plan to read it this time.
Is it going to give me many troubles that I did not read them in level 1?
 
I mean will reading level 2 ethics suffice? Or should I go back and read level 1 as well?
 
Ethics in level 2 includes everything from level 1 PLUS some applications. You don’t need to read the level 1 material.
 
dwheaton wrote:
Failed ethics on level 1 as I did not read it - I plan to read it this time.
Is it going to give me many troubles that I did not read them in level 1?
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If I am not wrong, then 80% of the stuff is same. (code of ethics and standards of professional conduct)
The GIPS stuff from Level 1 is not there. Several new readings have been introduced such as Soft Dollar Standards, Research Objectivity standards etc. It feels to me that the new readings are just a repharased version of the standards. I did not find anything new conceptually. There are new readings but no new concepts. So you should not need to re-read level 1 ethics. However, imo, the focus of l2 ethics is more on scenarios as opposed to just finding whether something is a violation of code and standards or not.
I am not sure but code and standards (the bulk of ethics stuff) remain same across all 3 levels.
 
Yeah - I was surprised at the amount of material that was re-covered on Ethics in the Level 2 Schweser book. I would say at least 80-85% of the material is the exact same, with the differences coming in with (1) Soft Dollar Standards, (2) Research and Objectivity Standards, (3) Prudent Investor Rule (PIR) vs. Prudent Man Rule (PMR). Basically, if you read these three sections in addition to the Ethics material in the Level 2 Schweser book/CFAI book, you’ll be fine and won’t have to review Level 1 Ethics material.
 
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