genuinecfa

I have no problem with ethics questions. I thought I would post how I approach them because maybe it would help somone make the difference between pass and fail.
Rule #1…THIS IS A TEST….Forget what you see your friend Charlie, who holds the charter, doing every day at work. Forget anything you would do in real life in relation to clients etc. You’re back in the academic world where everything has 1 answer.
Don’t just read the question for the facts. Read the question for what it seems obvious that the facts are leading to. Are they testing a concept of mat inside info? Order of trades? Reasonable basis?
If you are sure about what concept they are testing ask yourself what the facts add up to.
Is the info material? Is it inside? Does it meet all the tests. look for the point where it fails to meet one of the standards.
Now review the answers. If one of them reflects the conclusion you came to choose it.
Don’t be afraid to say that no standard has been violated if the facts lead you there.
When studying questions, ask yourself how the question could have been modified so that no standard was violated. Think about what would have made the situation better. Think about other standards that could have been violated. Pretty soon you will feel like you could write the questions.
Post a question and I will show you what I mean. It might be easier that way.