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Ethical & Professional StandardsModule 1 of 5

Ethics and Trust in the Investment Profession

6

Concepts

0

Formulas

1

Decisions

3

Quiz Questions

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Go to the CFA Level 1 Ethical & Professional Standards hub

Key Concepts

6 concepts covered in this module.

Ethics Defined

Ethics: set of shared beliefs about what is good or acceptable behavior. Goes beyond legal requirements. A code of ethics communicates an organization's values.

Trust in Investment Management

Clients entrust assets to professionals, creating an asymmetric relationship. Trust is the foundation of the investment profession.

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Decision Frameworks

1 decision frameworks to guide your analysis.

How to resolve an ethical dilemma?

  • Apply the ethical decision-making framework systematically
  • Consider all stakeholders affected
  • Choose the action most consistent with the Code of Ethics and professional duty

Mind Map

Visual overview of how concepts connect in this module.

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  • 3 exam-style quiz questions with instant scoring
  • Progress tracking across all 5 Ethical & Professional Standards modules
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Flashcard

Ethics Defined

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Answer
Ethics: set of shared beliefs about what is good or acceptable behavior. Goes beyond legal requirements. A code of ethics communicates an organization's values.
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Next Module

Code of Ethics and Standards of Professional Conduct