Guidance for Standard V: Investment Analysis, Recommendations, and Actions
Free CFA Level I lesson in Ethical and Professional Standards. 17 min read, ~2,574 words.
V(A) Diligence: every recommendation needs a reasonable and adequate basis backed by research, not opinion or rumor. V(B) Communication: disclose the investment process, limitations, and risks; separate fact from opinion. V(C) Records: keep supporting documentation for at least 7 years (recommended) or per regulator/firm requirement. Reliance on external research is...
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What this lesson covers
- Content
- Example 1
- Example 2
- Common Mistakes
- Key Takeaways
- Exam Shortcuts
Learning objectives
- ethics and trust
- code of ethics and standards
- standard I professionalism
- standard II integrity of capital markets
- standard III duties to clients
- standard IV duties to employers
- standard V investment analysis
- standard VI conflicts of interest
- standard VII responsibilities as member or candidate
- application of code and standards
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