How seriously do you take the professional standards section of this examination? I firmly believe that scoring 70%+ on this section can decide whether you pass or fail the exam. Committing to score 70%+ on this topic must be part of your exam strategy.
On the test candidates can expect 36 multiple choice questions from Ethics and Professional Standards – 18 questions in the morning and 18 questions in the afternoon. These 36 questions are from the four readings in the first study session.
The questions will revolve around situations involving firms, government/regulatory bodies, and people – charterholders, candidates, investors, beneficiaries, and so on.
Correct answers will center on your ability to apply: seven professional standards of conduct, and the GIPS. To do well in this section, you will have to depend on both your memory and intuition. The main focus of questions is to interpret the code and standards in the context of specific situations. In many cases, you will be asked to identify violations of the Code and Standards.
Tip: The most conservative choice is not always the correct choice and when local laws differ with the standards, the stricter of the two must be followed.