Hi guys,
Hope everyone is doing well.
I just took a entire mock exam (I think it’s an old live mock exam from Schweser…):
AM: 78%
PM: 76.5%
I found it way way way harder than the schweser mock exam from the package
That said, I have a question regarding ethics (which is still a mistery for some aspects…):
According to standard IV Duties to employers, a member/candidate must esecure written permission before undertaking an activity which competes with his employer, might create a conflict of interest, AND involves compensation (cash or not).
Now, let’s imagine (yeah I am sick), that you enter into an activity that competes with your employer BUT you’re not compensated. Do you have to obtain your employer’s written permission or not?
Thanks
I would say yes, you do need to obtain your employer’s written permission regardless of recieving cash.
You may not be compensated with cash, but you are providing your services (value) towards another company, activity (whatever it may be) that competes with YOUR employer; essentially the person/company who is compensating you and the person/company that you are legally obligated to provide value to. Therefore, I would think you woud need permission regardless of whether you are recieving compensation or not.
Yes, you need your employers permission, because you are not paid in cash does not mean you are not getting goodwill out of the service. All in all, anything that compete with your firm, you must obtain permission from your employer before proceeding.And yes, on the Schweser mock, I just took one, and it was really a hard knot to crack, scored exactly 50% in corporate finance and Derivative, and Corporate finance is one of my strong area. Managed to score 76% in total. From Next week, I’ll stop attempting Schweser mock and go back to CFAI as that is more likely to represent the exam better.
