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Layer 4 · Professional CertificationsCFA® Level 2Exam: CFA Institute

CFA® L2 — Ethical & Professional Standards

Same Code and Standards, applied to denser case scenarios. Research Objectivity, Soft Dollars, and the GIPS Standards.

20 hours of content1 chaptersFree during Phase 1

Quick info

Layer
Professional Certifications
Track
CFA® Level 2
Estimated hours
20 hrs
Chapters
1
Exam body
CFA Institute
Cost on Trustner
Free
Full course material live

Every chapter below has Foundation, Deep Dive, and Advanced material — read in any order, expand each chapter to see the full content.

About this course

CFA L2 Ethics extends L1 Standards to research-objectivity, soft-dollar arrangements, asset-management code, and case-style application. 10-15% weight. Vignettes test recognising violations in nuanced fact patterns.

Who this is for

  • CFA L2 candidates.
  • Practitioners renewing ethics knowledge.

What you'll learn

  • Application of Standards to vignette scenarios
  • Research Objectivity Standards
  • Soft Dollar / Best Execution
  • GIPS Standards (firm-level performance presentation)
  • Asset Manager Code of Professional Conduct

Course material — 1 chapters

Each chapter offers three tiers — Foundation for the core concept, Deep Dive for worked examples and practitioner depth, and Advanced for edge cases and exam tips. Click any chapter to expand.

  1. 1
    Reading 1

    L2 Ethics — application of Standards in research and asset management

    • Recurring vignette patterns (research objectivity, soft dollars, allocation, IPO participation)
    • Material non-public information edge cases
    • Asset Manager Code
    ✓ Full chapter — read, examples, FAQ, MCQs

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