Ethics··7 min read
Material Nonpublic Information (Standard II(A)): CFA® Level 1 Exam Traps
Material nonpublic information for Level 1 Ethics: the two tests in Standard II(A), the mosaic theory, and seven traps that lead to the wrong answer.
The Totten Journal · Free · Updated regularly
Field notes from
Level 1 candidates,
for Level 1 candidates.
Practical, plain-English guides to passing CFA Level 1 in the study time you actually have. Written by current candidates. Free to read, no account required.
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Latest posts
- Ethics··7 min read
CFA® Level 1 Ethics: Fair Dealing vs Suitability, Explained
Fair dealing vs suitability for CFA® Level 1 Ethics: what Standards III(B) and III(C) each cover, the one question that separates them, and five traps.
- Study strategy··9 min read
CFA® Level 1 Calculator Tips: BA II Plus vs HP 12C
Level 1 calculator tips: which models are allowed, BA II Plus vs HP 12C, the settings to change first, and the keystroke traps worth drilling.
- Study strategy··7 min read
CFA® Level 1 Final Review: A Six-Week Plan for the November 2026 Exam
A week-by-week CFA® Level 1 final review plan for the November 2026 window: a timed diagnostic, a points-per-topic table, full-length practice, and exam week.
- Study strategy··4 min read
Study CFA Level I While You Drive, Walk, or Train: Using a Podcast to Turn Dead Time Into Review
How to use a CFA Level I exam prep podcast during driving, walking, workouts, and busy work to keep the material in front of you. Plus a free 90 question practice exam.
- Ethics··6 min read
How to Study CFA Level I Ethics: Reason Through Vignettes, Don't Memorize Them
A practical guide to studying CFA Level I Ethics: learn the framework, spot the reasoning traps, and work vignettes methodically. Plus a free 90 question practice exam.
- Study strategy··7 min read
CFA Level 1 Study Plan: A Realistic 6-Month Schedule
A six-month CFA Level 1 schedule built from the exam's own topic weights, what to study in which month, when to sit your first mock, and what to cut when you fall behind.
- Ethics··6 min read
The CFA Level 1 Ethics Adjustment: How It Actually Works
CFA Institute can move a borderline score up or down based on your Ethics performance. What the adjustment does, who it affects, and how to prepare.
- Registration··5 min read
How Much Does CFA Level 1 Cost in 2026? Full Breakdown
Enrollment fee, early vs. standard registration, rescheduling costs, the real 2026 CFA Level 1 price, plus what most candidates forget to budget for.
- Study strategy··7 min read
How Many Hours Do You Really Need to Pass CFA Level 1?
How many hours to pass CFA Level 1? CFA Institute suggests 300+. Here is why 250 weighted hours can beat 400 unfocused ones, and where to spend them.
- Ethics··9 min read
CFA Level 1 Ethics: The Complete Guide to the Highest-Weighted Topic
Ethics is 15 to 20% of your Level 1 score and decides borderline pass/fail results. A working plan to move from 50% to 85% correct.
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Read the posts. Then sit the free 90-question mock.
Topic-weighted the way the real Level 1 is weighted. Instant per-topic scoring and worked explanations on every question.
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Ethics Chapter · $29
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All seven Standards, cheat sheet, exam-day protocol, and the Ethics question bank. 6 months of secure web access.
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