Ethical and Professional Standards for CFA Level I

Ethics at Level I is a scenario-reading discipline. Strong answers depend on identifying the real duty, the party owed that duty, and the fact pattern that turns a harmless detail into a violation or a required disclosure.

The hardest questions are often not about remembering the standard name. They are about judging what should happen next when loyalty, diligence, independence, or market integrity are under pressure.

Current Chapter Focus

• CFA Institute Code and Standards structure
• duties to clients, employers, counterparties, and the market
• research objectivity, conflicts, and disclosure duties
• misconduct, material nonpublic information, and fair dealing

This chapter root is live so the official topic area is represented in the guide. Section lessons are planned for a later pass.