I am confused as there is large chunk of material and i don’t know which topics to memorize and which topics to understand
All of it.
La ética es muy importante
I’m not kidding at all.
Ethics is very important.
You should review it at least once during the last week before the exam.
Learning by heart the Code of ethics and the titles of the standards was a great help.
You do not need to memorize the exact language nor the numbers and title of each standard. It’s a multiple choice test and many of the ethics questions are subjective anyway. The best way to prep for ethics is to read the guidance section from the text and answers hundreds of ethics practice questions. Schweser’s Q bank should have plenty for you.
I’ve been strong in ethics on my mocks thus far. Focus when studying was to really understand each of the examples given for each Standard within the CFAI text. If you asked me to recite the names of each Standard and Sub-Standard I wouldn’t do very well, however for the purpose of this exam I don’t think that’s the way to succeed in any case (assuming mocks are a suitable guide).
Memorize each of the main sections + subsections, and how to apply them. Once you do about a million questions you will see how to answer the questions and what applies to each situation. There are a lot of tough questions in ethics, but with a good review it should be an easy >70 section. Going into the program I assumed it would be easy, after going through L1 I can honestly say it is one of the most important sections and I really learned a lot and enjoyed it. The material is dull but it really drills in some key concepts that are important for any candidate or charterholder to know. Keep at it!