Ethical and Professional Standards CFA (Môn Tiêu chuẩn đạo đức và nghề nghiệp CFA)
Nội dung chính
Môn Tiêu chuẩn đạo đức và nghề nghiệp (Ethical and Professional Standards CFA) được coi là một trong những chủ đề khó chiếm tỷ trọng cao và được xuyên suốt trong cả 3 Level. Nó cũng đóng vai trò quan trọng khi một ứng viên có số điểm chấp chới, có khả năng sẽ bị trượt nhưng đểm môn Tiêu chuẩn đạo đức và nghề nghiệp mà cao thì vẫn sẽ đảm bảo sẽ vượt qua kỳ thi đó. Dưới đây TACA cung cấp cho bạn những thông tin cơ bản về môn học, mời bạn đọc theo dõi.
1. Môn Tiêu chuẩn đạo đức và nghề nghiệp trong từng level (Ethical and Professional Standards CFA in 3 levels)
1.1. Trọng số môn Alternative Investments CFA trong bài thi của các level
Môn Tiêu chuẩn đạo đức và nghề nghiệp được Viện CFA đánh giá khá cao có tỷ trọng dao động trong khoảng 10%-20% trong xuyên suốt 3 Level.
| Level | Tỷ trọng | Số lượng câu hỏi | Số lượng công thức |
| Level 1 | 15-20% | Khoảng 28 | 0 |
| Level 2 | 10-15% | 8-12 | 0 |
| Level 3 | 10-15% | Khoảng 6 | 0 |
1.2. Chi tiết nội dung học của môn Ethical and Professional Standards CFA trong các level
Ethical and Professional Standards CFA Level 1
Ở Level 1, Viện CFA đưa ra 5 mô-đun cho môn Tiêu chuẩn đạo đức và nghề nghiệp (Ethical and Professional Standards CFA):
| STT | Mô-đun môn học | Mô tả |
| 1 | Đạo đức và lòng tin trong nghề đầu tư
(Ethics and Trust in the Investment Profession) |
|
| 2 | Quy tắc đạo đức và tiêu chuẩn hành vi nghề nghiệp
(Code of Ethics and Standards of Professional Conduct) |
|
| 3 | Hướng dẫn cho các Tiêu chuẩn I–VII
(Guidance for Standards I–VII) |
|
| 4 | Giới thiệu về Tiêu chuẩn Hiệu suất Đầu tư Toàn cầu
(Introduction to the Global Investment Performance Standards (GIPS)) |
|
| 5 | Ứng dụng đạo đức
(Ethics Application) |
|
Ethical and Professional Standards CFA Level 2
Tiêu chuẩn đạo đức và nghề nghiệp (Ethical and Professional Standards CFA) ở Level 2 có 3 mô-đun:
| STT | Mô-đun môn học | Mô tả |
| 1 | Quy tắc đạo đức và tiêu chuẩn hành vi nghề nghiệp
(Code of Ethics and Standards of Professional Conduct) |
|
| 2 | Hướng dẫn cho các Tiêu chuẩn I-VII
(Guidance for Standards I–VII) |
|
| 3 | Áp dụng Quy tắc và Tiêu chuẩn: Cấp độ II
(Application of the Code and Standards: Level II) |
|
Ethical and Professional Standards CFA Level 3
Tiêu chuẩn đạo đức và nghề nghiệp (Ethical and Professional Standards CFA) ở Level 3 có 5 mô-đun:
| STT | Mô-đun môn học | Mô tả |
| 1 | Quy tắc đạo đức và tiêu chuẩn hành vi nghề nghiệp
(Code of Ethics and Standards of Professional Conduct) |
|
| 2 | Hướng dẫn cho các Tiêu chuẩn I-VII
(Guidance for Standards I–VII) |
|
| 3 | Áp dụng Quy tắc và Tiêu chuẩn: Cấp độ III
(Application of the Code and Standards: Level III ) |
|
| 4 | Quy tắc ứng xử chuyên nghiệp của chuyên viên quản lý tài sản
(Asset Manager Code of Professional Conduct) |
|
| 5 | Tổng quan về Tiêu chuẩn hiệu suất đầu tư toàn cầu (GIPS)
(Overview of the Global Investment Performance Standards) |
|
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2. Mẫu câu hỏi & đáp án môn Ethical and Professional Standards CFA trong các level
2.1. Câu hỏi Ethical and Professional Standards CFA Level 1
Question 1:
If a professional organization has standards of conduct in addition to its code of ethics, the purpose of the standards is most likely to describe:
- shared principles.
- laws and regulations.
- acceptable behaviors.
Solution:
Instruments for compliance with professional ethics
| Instrument | Owner | Describes |
|---|---|---|
| Code of ethics | Professional organization | Shared principles |
| Standards of conduct | Professional organization | Minimally acceptable behavior |
| Laws and regulations | Government | Legal limits of behavior |
A code of ethics is a professional organization’s statement of shared principles. Standards of conduct provide a guide to practicing the principles outlined in the code of ethics. Standards of conduct also clarify the minimally acceptable behaviors required to conform to the code of ethics. Although not addressed directly in standards of conduct, adherence to civil laws and regulations may be the minimally acceptable behavior in some cases.
Standards of conduct may be principle-based or rule-based. Principle-based standards are universally applicable to members of the profession and are based on the principles outlined in the code of ethics. Rule-based standards, while also relating to the principles in the code of ethics, are usually more narrowly applicable and specific to certain members or scenarios that may arise.
A code of ethics may or may not be accompanied by standards of conduct whereas standards of conduct exist only to enhance their associated code of ethics. CFA Institute has adopted both a code of ethics and standards of conduct (the “Code and Standards”); CFA charterholders and candidates are expected to know and comply with both.
(Choice A) Standards of conduct are used to describe minimally acceptable behaviors or practices, given the shared principles of the code of ethics. The code of ethics describes the shared principles.
(Choice B) Standards of conduct do not describe civil laws and regulations.
Things to remember:
Standards of conduct are used to clarify the minimally acceptable behaviors required to conform to the shared principles stated in a code of ethics; they do not address applicable civil laws and regulations.
Question 2:
Letitia Armando, CFA, works for a global investment bank. She is transferred to an office in an emerging market country. The local office staff suggest that Armando pay an unofficial “administrative fee” to local regulatory officials in return for ensuring that the bank receives approval on new public offerings. Armando researches local law and finds that it does not prohibit such payments and that, in fact, it is the accepted local practice. If Armando pays the officials, will she most likely violate Standard I: Professionalism?
- No, since the payments are not illegal
- No, since the standard requires compliance with local law
- Yes, since the payments compromise the officials’ objectivity
Solution:
Standard I of the CFA Institute Code and Standards focuses on four subsections of professional conduct: (A) Knowledge of the Law; (B) Independence and Objectivity; (C) Misrepresentation; and (D) Misconduct. Standard I(A) Knowledge of the Law requires members and candidates to know local law and the Code and Standards and to follow whichever is stricter.
“Members and Candidates must understand and comply with all applicable laws, rules, and regulations (including the CFA Institute Code of Ethics and Standards of Professional Conduct) of any government, regulatory organization, licensing agency, or professional association governing their professional activities. In the event of conflict, Members and Candidates must comply with the more strict law, rule, or regulation. Members and Candidates must not knowingly participate or assist in and must dissociate from any violation of such laws, rules, or regulations.”
In this case, the payments do not violate local laws, but the Code and Standards prescribe a more restrictive policy in Standard I(B) Independence and Objectivity. Standard I(B) requires members and candidates to avoid any actions that would compromise the independence and objectivity of an investment professional, including a regulatory official.
“Members and Candidates must use reasonable care and judgment to achieve and maintain independence and objectivity in their professional activities. Members and Candidates must not offer, solicit, or accept any gift, benefit, compensation, or consideration that reasonably could be expected to compromise their own or another’s independence and objectivity.”
Since these payments are intended to compromise the independence and objectivity of regulatory officials, by ensuring regulatory approval, making such payments is a violation of Standard I(B). Since the Code and Standards prohibit such payments and are stricter than local law, the payments also violate Standard I(A).
(Choices A and B) Although the payments are not illegal and comply with local law, Armando also needs to comply with CFA Institute standards since they are stricter in this case. She would violate Standard I(B)—and therefore also Standard I(A)—by making these payments.
Things to remember:
Standard I(A) requires members and candidates to follow local law or CFA Institute Code and Standards, whichever is stricter. An action that is not prohibited under local law may still violate the Code and Standards. Actions that would compromise the independence and objectivity of an investment professional violate Standard I(B).
2.2. Câu hỏi Ethical and Professional Standards CFA Level 2
Passage:
Tom Johnson, CFA, is a portfolio manager at Universal Advisors, a US-based wealth management firm that serves high-net-worth individuals and families. Universal’s equity portfolio offering includes separately managed accounts (SMAs) in which clients own individual securities. Johnson manages the portfolio with an aggressive high-risk, high-reward strategy, investing mostly in small-cap growth stocks. To reduce transaction costs and to simplify trading and settlement, Universal buys only US-listed securities for client accounts.
Johnson instructed Francois Martin, a CFA Level II candidate and new equity analyst at the firm, to conduct research on Vent Industries, a French wind turbine manufacturer. Vent is dually listed on exchanges in France and in the US. Martin, a French national who recently moved to the US, is already familiar with the company since he has been following it personally for the past two years.
After completing due diligence on Vent, Martin is thoroughly impressed by the investment prospects and suggests that Johnson add the US-listed shares of Vent to client portfolios. Johnson, as the sole decision-maker, reviews Martin’s research and financial models but wants to think about the suggestion before reaching a conclusion.
Martin is so impressed with Vent’s investment prospects that he wants to buy it for his personal account. For guidance, Martin references Universal’s publicly available personal transaction disclosure, which states only the following:
“Investment personnel are subject to policies and procedures regarding their personal trading.”
Needing more detail, Martin checks with the firm’s compliance officer, who informs him that the firm does have policies and procedures designed to prevent potential conflicts of interest related to personal trading. Universal does not require that employees obtain preclearance before trading, but the firm’s policies do require:
- a two-day blackout period before and after client trades, and
- a quarterly report by its investment decision-making personnel on transactions and holdings.
Based on this information, Martin immediately places an order to buy Vent shares listed in France through his personal French brokerage account, which he established prior to joining Universal. Three days later, Johnson decides to invest for clients in the US-listed shares of Vent and places the order through Universal’s trading desk.
Johnson is a board member for a local hospital endowment; for this, he receives modest compensation. Universal has approved Johnson’s board participation and compensation. Johnson is considered to be a thoughtful and successful investor. The other board members, unhappy with the fees and performance of the endowment’s existing income-oriented large-cap equity manager, asked Johnson a year ago if he would be willing to manage the equity portion of the
endowment. Johnson responded by stating:
“The hospital provides so much to this community, I would be happy to manage the endowment’s equity portfolio. It won’t even take much time; I will manage the endowment portfolio as an exact replica of Universal’s equity portfolio.”
The next month, without informing Universal, Johnson began managing the endowment portfolio as a mirror image of Universal’s equity strategy.
Recently, Johnson evaluated the investment prospects of an upcoming IPO for a small-cap biotech firm. The company does innovative cancer research, but it is still years away from profitability. After conducting thorough due diligence, Johnson has concluded this is a great investment opportunity; he would like the hospital endowment to participate, believing the other board members would be excited about the company’s cancer research.
Johnson speaks to Universal’s lead underwriter and requests that 5% of the firm’s IPO allotment be allocated to the endowment. A few days later, when the IPO is priced and allocated, Universal receives 95,000 shares and the endowment receives 5,000 shares.
Question 1:
Do Universal’s personal transaction disclosure policies comply with CFA Institute’s required and recommended procedures?
- No.
- Yes, since no disclosure is required.
- Yes, since they meet the minimum disclosure requirements.
Solution:
“Investment transactions for clients and employers must have priority over investment transactions in which a Member or Candidate is the beneficial owner.”
Standard VI(B) Priority of Transactions requires Members and Candidates to place clients’ and employers’ financial interests before their own when conducting investment transactions and recommends avoiding even the appearance of conflicts of interest.
Firms should have policies and procedures to address such issues. Members and Candidates should fully and publicly disclose their firm’s policy regarding personal securities transactions. If such a policy is established, CFA Institute requires that it be disclosed with some level of detail, not simply in general, nondescript (“boilerplate”) language, as was the case in this scenario.
Although each firm should develop specific provisions applicable to its circumstances, publicly available details of firm policies must be informative and convey the essence of full and complete disclosure to alleviate the public’s concern regarding the potential for conflicts of interest (Choices B and C).
Things to remember:
A firm’s policy on personal investing must be disclosed with some level of detail, as required by CFA Institute, and cannot be written in general, nondescript language. Although each firm should develop specific provisions, the guiding principle is that a complete disclosure of the policy must be conveyed to alleviate the public’s concern regarding the potential for conflicts of interest.
Question 2:
Which of Universal’s procedures for personal investing by employees is inconsistent with CFA Institute’s required and recommended procedures?
- There is no preclearance requirement.
- Transaction and holdings disclosures are not frequent enough.
- The blackout period is insufficient to prevent front-running of client trades.
Solution:
“Investment transactions for clients and employers must have priority over investment transactions in which a Member or Candidate is the beneficial owner.”
Standard VI(B) Priority of Transactions stipulates that once a firm has established a policy on personal investing, specific reporting of personal holdings and securities transactions of investment personnel is required to ensure the policy is enforced. Since the policy’s overriding goal is to address client concerns regarding personal securities transactions and any conflicts of interest for the firm’s employees, enforcement procedures must also be established.
Key elements of the enforcement requirements include:
- Initial disclosure of holdings in which an employee has beneficial ownership (eg, for self, trust, spouse)
- Holdings disclosure, at least annually
- Duplicate transaction confirmations and periodic statements provided to the employer
- Preclearance procedures before the employee can trade
(Choice B) Standard VI(B) stipulates that duplicate transaction confirmations and periodic statements be provided, but it does not specify how frequently. Transaction confirmations should be done at the time of trade to ensure adequate supervision of activity, but quarterly holdings disclosure is adequate and common in most circumstances.
(Choice C) A blackout period is a recommended (not required) policy, and each firm has discretion regarding the period’s duration. Although the minimum period is not specified, a blackout of two days before and after a client trade is likely adequate to minimize market impact and prevent a conflict of interest and/or front-running of client trades.
Things to remember:
The key requirements of Standard VI(B) for investment personnel include trade preclearance and reporting personal holdings and securities transactions.
Question 3:
According to Standard VI(B) Priority of Transactions, when Martin bought shares of Vent, he most likely:
- violated the Standards.
- did not violate the Standards since the trade was outside the blackout period.
- did not violate the Standards since the transaction was in a different market than client transactions.
Solution:
“Investment transactions for clients and employers must have priority over investment transactions in which a Member or Candidate is the beneficial owner.”
Standard VI(B) Priority of Transactions requires Members and Candidates to place clients’ and employers’ financial interests before their own when conducting investment transactions. However, it is not uncommon for a Member or Candidate to transact in the same investments as clients, or even alongside clients.
Best practice is for the firm to create policies and procedures (eg, preclearance, duplicate confirmations) that avoid not only actual conflicts of interest but the appearance of conflicts of interest. Client transactions must always take precedence over personal or firm transactions.
In this instance, by recommending and then immediately purchasing shares before the firm had made an investment decision, Martin violated the Standard. Members and Candidates should trade on a recommendation they have made only after the firm has had the opportunity to act on that recommendation; by trading immediately, Martin violated the Standard. He should have waited for a decision to be made before purchasing shares for himself and thereby allowed client transactions to have priority.
(Choice B) Although Martin’s transaction was outside the blackout period, he put his own interest above the clients’ and therefore violated the Standard.
(Choice C) Shares that are dually listed in different markets represent the same ownership of a company and are often fungible (ie, directly exchangeable). Thus, the securities are the same and the location of the ownership or transaction is not relevant.
Things to remember:
A Member’s or Candidate’s trade does not violate Standard VI(B) Priority of Transactions provided the trade does not disadvantage a client, and the Member or Candidate adheres to all applicable regulatory requirements and does not benefit from client transactions.
2.3. Câu hỏi Ethical and Professional Standards CFA Level 3
Passage:
Edgar Somer, CFA, was recently hired as a portfolio manager at Karibe Investment Management. Somer previously worked at a rival firm where he produced an average annual return of 11% using a small-cap value strategy. On his first day at Karibe, the firm asks Somer to approve marketing materials that present the following performance disclosures.
• Text which states: “Somer has generated average annual returns of 11%”
• The 3-year performance of a composite of Karibe client accounts that follow a similar small-cap value strategy
• A disclosure that the assumptions and calculations underlying the returns presented are publicly available on Karibe’s public website
To maintain relationships with clients and to attract prospective clients, Somer is active on social media. He posts a link to a news story about a famous athlete who recently paid substantial tax penalties after failing to properly report investment gains. In addition to the link Somer writes the comment: “A client of mine had similar gains, but because I kept proper records he faced no penalties. #HireAProfessional”. Some responses to the post suggest that readers mistakenly believe the athlete is Somer’s client. Somer does not post a clarifying comment. Somer develops a new quantitative investment strategy that he describes in marketing materials. The description states that “the strategy is based on eight proven fundamental and technical factors, including well-known factors such as value and momentum as well as certain proprietary factors that have been back-tested. The strategy includes a dynamic weighting component to adjust the amount allocated to each factor based on prevailing market conditions.” The materials also highlight risks such as “the possibility that the model or its underlying factors may not work out of sample,” and “because the weight placed on various factors is dynamic, it may not be suitable for clients who seek steady exposure to certain factors.” One of Somer’s clients agrees to use this strategy. When preparing the first performance report for this client, Somer discovers a coding error that reversed the client’s weightings assigned to the value and momentum factors. Prior to joining Karibe, Somer purchased shares in a small-cap technology firm for his personal portfolio. When he started his new role Somers disclosed the position, which had quadrupled in value since the initial purchase and represented more than 5% of his personal holdings. He had no intention to sell the shares and he recommended them to clients at Karibe, to whom he disclosed his ownership. After the successful launch of a new product resulted in additional large gains in the shares, Somer now recommends that clients place limit orders when purchasing the shares. Though he remains bullish on the stock he is concerned about the size of his personal position, which is now more than 15% of his portfolio. One of his clients recently placed a limit order at $50 per share, which represents the highest bid in the market. The lowest offer is $52. Somer considers filling the client’s order with some of his own shares at the $50 bid price.
Question 1:
To best comply with the CFA Institute Standards of Professional Conduct (the Standards) related to performance presentation, Somer should modify the:
- text regarding Somer’s investment returns.
- presentation of the performance for Karibe’s representative composite.
- content of the disclosure statement related to assumptions and calculations.
Solution:
A is correct because Somer’s returns are not clearly explained as being generated at his prior firm. If a firm is not claiming GIPS compliance, “Members and candidates can also meet their obligations under Standard III(D) by including disclosures that fully explain the performance being reported.”
B is incorrect because the marketing materials present the performance of a composite of similar portfolios.
C is incorrect because the materials direct prospective clients to the website where a full disclosure of the assumptions and calculations are available
Question 2:
Does Somer’s social media post result in a violation of the Standards?
- No
- Yes, he violates the standard related to preservation of confidentiality
- Yes, he violates the standard related to communication with clients and prospective clients
Solution:
A is correct because Somer did not reveal the identity of his client (Standard III(E)). The context of the comment (he helped his client avoid penalties) contradicts the mistaken conclusion of the readers of the social media post (the athlete in question had to pay penalties so obviously was not his client). He also does not violate the standard related to communication (Standard V(B)) because it applies to 1) disclosure of the format and general principles of the investment process; 2) significant limitations and risks of the investment process; 3) identifying important factors for their analysis and recommendations; and 4) distinguishing between fact and opinion in investment analyses and recommendations. His post did not relate to any of these and thus is not a potential violation of the standard.
B is incorrect because Somer does not violate the standard related to confidentiality because the athlete in the news story is not his client, and the information that he helped his own client avoid tax penalties by keeping good records does not provide enough information to disclose the client’s identity.
C is incorrect because Somer does not violate the standard related to communication (Standard V(B)) because it applies to 1) disclosure of the format and general principles of the investment process; 2) significant limitations and risks of the investment process; 3) identifying important factors for their analysis and recommendations; and 4) distinguishing between fact and opinion in investment analyses and recommendations. His post did not relate to any of these and thus is not a potential violation of the standard, but certain candidates and/or exam team writers who think that communications with clients includes a duty to correct everyone who misunderstands you may choose this answer
Question 3:
When preparing the marketing materials for the quantitative strategy, did Somer comply with the standard related to communication with clients and prospective clients?
- Yes
- No, because he did not identify the risk of coding errors
- No, because he did not describe the investment process in detail
Solution:
A is correct because he did not violate Standard V(B). With respect to informing clients of the investment process, the guidance stipulates that when explaining the process one “need not describe the investment system in detail… but must inform clients of (the) basic process and logic.” The explanation of Somer’s process as factor-based with weights dynamically allocated meets this criterion. Regarding risk identification, “members and candidates cannot be expected to disclose risks they are unaware of at the time…. Having no knowledge of a risk or limitation that subsequently triggers a loss may reveal a deficiency in the diligence and reasonable basis… but may not reveal a breach of Standard V(B).”
B is incorrect because “members and candidates cannot be expected to disclose risks they are unaware of at the time…. Having no knowledge of a risk or limitation that subsequently triggers a loss may reveal a deficiency in the diligence and reasonable basis… but may not reveal a breach of Standard V(B).”
C is incorrect because when explaining the process one “need not describe the investment system in detail… but must inform clients of (the) basic process and logic.” (Example 1 p. 141) The explanation of Somer’s process as factor-based with weights dynamically allocated meets this criterion.
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3. Một số mẹo học và ôn thi môn Ethical and Professional Standards CFA
Đọc kỹ câu hỏi và gạch ý chính: Hãy chú ý đến các yêu cầu của câu hỏi. Thông thường các ứng viên hay mắc lỗi quên các cụm từ chính như “luôn luôn”, “không bao giờ” hoặc “không” và dễ bị làm sai. Bên cạnh đấy, các câu hỏi của môn Đạo đức thường khá dài nên gạch chân từ khóa sẽ giúp bạn rút ngắn hơn thời gian làm bài.
Hãy đọc phần Đạo đức nhiều lần: Các câu hỏi về đạo đức có nhiều sắc thái và gây nhầm lẫn, và việc đưa ra câu trả lời đúng cần dành nhiều thời gian để có thể hiểu hết. Nội dung phần Đạo đức giữa các Level cũng khá giống nhau nên nếu bạn nắm tốt phần kiến thức ở Level 1 thì sẽ thuận lợi hơn khi học Level 2 và 3.
Phân biệt được 7 chuẩn mực ứng xử nghề nghiệp và 6 bộ quy tắc đạo đức CFA: Bộ quy tắc đạo đức là hướng dẫn chung về hành vi trong khi các chuẩn mực ứng xử là những khuyến nghị cụ thể hơn về những “hành vi tối thiểu chấp nhận được”.
6 bộ quy tắc đạo đức:
- Hành động theo chuẩn mực liêm chính, năng lực, thận trọng, tôn trọng và có đạo đức với công chúng, khách hàng, khách hàng tiềm năng, công ty chủ quản, người lao động, đồng nghiệp trong nghề nghiệp đầu tư và các thành viên khác trên thị trường vốn toàn cầu.
- Đặt chuẩn mực liêm chính của nghề nghiệp đầu tư và lợi ích của khách hàng trên lợi ích cá nhân.
- Sử dụng mức quan tâm hợp lý và xét đoán chuyên môn độc lập khi tiến hành phân tích đầu tư, đề xuất kiến nghị đầu tư, tham gia vào các hoạt động đầu tư và tham gia vào các hoạt động chuyên môn khác.
- Hành nghề và khuyến khích những người khác hành nghề một cách chuyên nghiệp và có đạo đức, từ đó phản ánh uy tín của bản thân và nghề nghiệp.
- Thúc đẩy chuẩn mực liêm chính và sự phát triển của các thị trường vốn toàn cầu vì lợi ích của xã hội.
- Duy trì và nâng cao năng lực chuyên môn, nỗ lực duy trì và nâng cao năng lực của các chuyên gia đầu tư khác.
7 chuẩn mực nghề nghiệp:
-
- Chuyên nghiệp
- Sự liên chính của thị trường vốn
- Trách nhiệm đối với khách hàng
- Trách nhiệm đối với công ty chủ quản
- Phân tích, khuyến nghị và hoạt động đầu tư
- Xung đột lợi ích
- Trách nhiệm với tư cách là thành viên của Viện CFA hoặc ứng viên CFA
Đừng ghi nhớ một cách mù quáng: Vì một số tình huống cụ thể của ngành rất khó khái quát nên Đạo đức Level 1 của CFA đòi hỏi phải ghi nhớ nhiều hơn một chút. Nhưng bạn không cần phải nhớ hành loạt các quy tắc, thứ tự của các chuẩn mực. Thay vào đó, bạn nên tìm hiểu, lý giải cách hoạt động và logic của chúng thì sẽ nhớ sâu hơn.
Đừng chỉ dùng “trực giác đạo đức” của bạn để làm bài tập môn này: Nhiều ứng viên cho rằng đây là môn dễ và có phần xem nhẹ chỉ học lướt hay đọc qua trước khi thi vì suy nghĩ “Mình là người có đạo đức mà không cần phải”. Nhưng bạn hãy nhớ rằng Viện CFA không kiểm tra “đạo đức” của bạn mà đang kiểm tra khả năng xác định các tiêu chuẩn đạo đức, áp dụng chúng một cách phù hợp và tránh vi phạm chúng trong ngành tài chính, đầu tư. Vậy nên đừng chỉ dừng lại ở “trực giác đạo đức” cá nhân và hãy học và làm nhiều bài luyện tập để phát triển trực giác ấy.
Làm nhiều câu hỏi thực hành về Tiêu chuẩn đạo đức và nghề nghiệp: Để trả lời các câu hỏi về đạo đức, bạn cần phải quen thuộc với cả phong cách câu hỏi và tài liệu nguồn — biết từ khóa nào cần tránh, dự đoán những cạm bẫy thường gặp và sàng lọc dữ liệu không liên quan.
- Việc luyện tập nhiều câu hỏi trước sẽ giúp bạn tránh được những sai lầm ngớ ngẩn trong kỳ thi.
- Đọc tất cả các câu hỏi và câu trả lời thực hành về Đạo đức trong chương trình giảng dạy CFA. Tìm hiểu cách các quy tắc được diễn giải và áp dụng.
- Hoàn thành tất cả các câu hỏi trong ‘Blue box’ trước khi chuyển sang các câu hỏi Cuối chương – End of Chapter (EOC).
- Nếu có thắc mắc khác, hãy tham khảo Sổ tay Hệ sinh thái học tập và Tiêu chuẩn thực hành trực tuyến của Viện CFA.
- Sau đó, nếu bạn có thời gian, hãy xem lại cách giải chúng một lần nữa trước khi làm thêm các câu hỏi khác.
- Tốt hơn hết là bạn nên hiểu lý thuyết, quay lại ghi chú chương trình giảng dạy CFA và xem lại các phần có liên quan để củng cố kiến thức môn Đạo đức CFA của mình.
- Ngoài ra, hãy hoàn thành càng nhiều câu hỏi về Đạo đức càng tốt, sau đó đọc các bài giải, giải thích để biết câu trả lời đúng và sai. Chậm nhưng chắc, mài giũa “trực giác đạo đức” của mình trong suốt quá trình học môn này.
Nếu có thời gian hãy làm flashcards hoặc mindmap: Vì đây là môn có nhiều lý thuyết nên việc bạn lập flashcards/mindmap sẽ dễ dàng và tiết kiệm thời gian hơn khi bạn ôn tập.
Câu hỏi thường gặp
Tổng quan về Tiêu chuẩn đạo đức và nghề nghiệp (Ethical and Professional Standards CFA)
Ethical & Professional Standards là môn học về Tiêu chuẩn đạo đức và nghề nghiệp. Đây là môn học rất quan trọng, giúp bạn tìm hiểu về việc phát huy phẩm chất, năng lực của nhà đầu tư trong thực tiễn hàng ngày. Môn Ethical & Professional Standards sẽ là nền móng cần thiết cho các bạn trong quá trình chinh phục những môn nâng cao hơn trong chương trình CFA, đồng thời là nền tảng giúp bạn thành công trên con đường nghề nghiệp ngành Tài chính.
Nên học môn Tiêu chuẩn đạo đức và nghề nghiệp (Ethical and Professional Standards CFA) như thế nào?
Khi bạn đã nắm vững các Tiêu chuẩn thì các kiến thức về Đạo đức sẽ học được khá nhanh và tự nhiên. Và khi học môn này, hãy đặt mình như một luật sư. Sử dụng kỹ thuật của luật sư, IRAC – Issue (vấn đề), Rule (quy tắc), Application (ứng dụng), Conclusion (kết luận). Đó là một công cụ tuyệt vời để giải quyết các câu hỏi đạo đức.
“Tôi là người tốt, tại sao tôi phải học Đạo đức?”
Dù ở cấp độ nào của CFA, Đạo đức là một môn học khó. Không nên nhầm lẫn nó với lẽ thường hoặc suy nghĩ rằng người “tốt” thì sẽ làm tốt môn học này vì nhiều trường hợp cụ thể trong tài chính đòi hỏi phải hiểu sâu hơn.
Nếu bạn đang cần tư vấn về lộ trình học và ôn tập CFA, đừng ngần ngại liên lạc với Taca Academy!
- Khóa học CMA luyện thi Chứng chỉ Kế toán quản trị Hoa Kỳ (U.S CMA)
- DipIFR – chứng chỉ lập báo cáo tài chính quốc tế (Level 2)
- Chuyển đổi báo cáo tài chính từ VAS – IFRS
- Khoá học IFRS toàn diện (CertIRF, DipIFR, VAS to IFRS)
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