Module 1: Ethics and Trust in the Investment Profession
LOS 1.a: Explain ethics.
LOS 1.b: Describe the role of a code of ethics in defining a profession.
LOS 1.c: Identify challenges to ethical behavior.
LOS 1.d: Describe the need for high ethical standards in the investment industry.
LOS 1.e: Distinguish between ethical and legal standards.
LOS 1.f: Describe and apply a framework for ethical decision making.
LOS 1.g: Describe professionalism in investment management.
LOS 1.h: Identify how trust is established in the investment profession.
Module 2: Code of Ethics and Standards of Professional Conduct
LOS 2.a: Describe the structure of the CFA Institute Professional Conduct Program and the process for the enforcement of the Code and Standards.
LOS 2.b: State the six components of the Code of Ethics.
LOS 2.c: State the seven Standards of Professional Conduct.
Module 3: Guidance for Standards I to VII
LOS 3.a: Demonstrate the application of the Code of Ethics and Standards of Professional Conduct to situations involving issues of professional integrity.
LOS 3.b: Distinguish between conduct that conforms to the Code and Standards and conduct that violates the Code and Standards.
LOS 3.c: Recommend practices and procedures designed to prevent violations of the Code of Ethics and Standards of Professional Conduct.
Module 4: Introduction to the Global Investment Performance Standards (GIPS)
LOS 4.a: Explain why the GIPS standards were created, who can claim compliance, and who benefits from compliance.
LOS 4.b: Describe the key concepts of the GIPS standards for firms.
LOS 4.c: Explain the fundamentals of compliance with the GIPS standards, including the definition of the firm and the firm’s definition of discretion.
LOS 4.d: Describe the concept of independent verification.
LOS 4.e: Describe the scope of the GIPS standards with respect to an investment firm’s definition and historical performance record.
Module 5: Ethics Application
LOS 5.a: Evaluate practices, policies, and conduct relative to the CFA Institute Code of Ethics and Standards of Professional Conduct.
LOS 5.b: Explain how the practices, policies, or conduct does or does not violate the CFA Institute Code of Ethics and Standards of Professional Conduct.