Well, after all these years of hardworking and studying and reading,I suddenly came up with a question: Why the he*l CFAI wants to include ethics part as one of the testing sessions? I mean, due to difference in culture and local practices, people will have different understanding about the same ethic problem. Moral standards and ethics questions are nothing other than absolutely ambiguous and ill-defined areas! No one can judge others by his/her own moral standard though someone may say we do have some common ground for moral standards… Plus, having read some guy’s thread in this forum, I do realize ethics part provides nothing but argument and confusion… So what’s your opinion?
Ethics is boring as hell to read, and it sucks, but there is absolutely no way in hell that CFAI will ever drop it from any of their tests… It’s basically the backbone of everything CFAI stands for (outwardly). The thing that sucks about ethics is the way it’s tested, not exactly clear cut… but I believe that is the point.
yup… they LOVE to flaunt the “our candidates put ethics first spiel…”
What CFAI shall consider seriously is : Does it necessarily mean that those CFA charterholders and CFA candidates who got high grade in the exams will have better etical behaviors ? I think, carrots and sticks are more important in practical world !
I have seen many people who owned a lot of titles committed serious crimes. And, please forgive me to say this: in today’s filthy world, who still care about morality???Most who working in so-called investment banks only care about money…Just see what happened in credit crisis… Sign…
i had a nice guy sitting besides me and while talking i ask him whether he has work ex… and he says yes… so i ask him ok so he will call himslef CFA once done with the exam and he calously says…oh that wouldnt matter much as even now they and their firm call themselves CFA… WTF, ethics??? even if its a lie, its ridiculous
sarahqinss Wrote: ------------------------------------------------------- > I have seen many people who owned a lot of titles > committed serious crimes. And, please forgive me > to say this: in today’s filthy world, who still > care about morality???Most who working in > so-called investment banks only care about > money…Just see what happened in credit > crisis… > > Sign… ??? The world always operates in this manner - throughout the history of the world. People working in so-called investment banks? More like people period. Brush off those history books. People have short memories so they tend to recall events of the recent past.
Maybe a little relevant to this thread: http://www.economist.com/business/displaystory.cfm?story_id=13788418 I think Ethics has huge value as it reminds one of their duties and responsibilities, but the way CFAI tests is silly. By the way, CFAI does have sticks (in extreme case, they can take away your association with CFAI) along with the carrots (CFA brand). So, only problem I have is just the way it is tested.
I actually don’t mind the way it is tested at all. It can get very subjective and bogged down, but in the real world, a lot of decisions aren’t clear cut either. And I think the ethical code is a BIG part of why CFAI has gained credibility over the years, not just the difficulty of the exams.
Well, I sure wouldn’t give money to invest to anyone who couldn’t get the vast majority of these. As far as the CFA trademark questions and many of the GIPS, I could care less if anyone could answer them without referring to the books. But if I saw someone playing fast and loose with those, would be a major red flag and wouldn’t do business. There’s a reason Madoff type stuff happens, and it’s people not paying attention to details, and doing business with people who don’t want to be bothered with these types of questions.
The ethics component makes all the sense in the world to me given the propensity for the human mind to dream-up more ways to try to beat the system by cutting corners. Working the role that I do, I cannot afford to hire an organization that thinks that ethical considerations are second to process and performance. They must do it all.