Episode 1: Introduction to the Code and Standards
About this episode
Ethics is a significant topic area on the CFA® Level I exam. This first episode of the season introduces how the show approaches Ethics, working through scenarios rather than memorizing the Standards. In a two host format, one host explains the material while the other plays a fictional exam candidate, and together they set up the framework of the Code of Ethics and the Standards of Professional Conduct that the rest of the season works through, one Standard at a time. Using fully fictional scenarios, they focus on practicing how to reason through a vignette rather than guessing at it.
In this episode
This opening episode sets up the season. Rather than starting with definitions, the hosts explain how the show plans to work through Ethics: by reasoning out loud through realistic situations, the same way the exam presents them.
The episode lays out the structure candidates will see all season. The material is organized as the Code of Ethics and the seven Standards of Professional Conduct, covering professionalism, the integrity of capital markets, duties to clients, duties to employers, investment analysis and recommendations, conflicts of interest, and responsibilities as a candidate or charterholder.
A recurring theme is introduced early: exam questions usually arrive as short scenarios where more than one answer can look defensible. The work is identifying which Standard is actually in play and understanding why the tempting answer is the wrong one.
The two hosts also establish the format used across the season. One host explains each Standard while the other plays a fictional exam candidate, asking the questions a candidate would ask and walking into the traps, so the reasoning is out in the open instead of buried in a definition.
The episode closes with the roadmap for the rest of the season and points listeners to a free 90 question practice exam at tottenprep.com.
What this episode covers
- How Season 1 is organized: the Code of Ethics and the seven Standards of Professional Conduct, one at a time.
- Why the exam tends to present Ethics as scenarios rather than definitions.
- The two host format: one explains, the other plays a fictional exam candidate walking into the traps.
- How to approach a vignette when more than one answer looks defensible.
Frequently asked questions
What does the Totten Prep podcast cover?
Totten Prep is a CFA® Level I exam prep podcast. Season 1 is a walkthrough of the CFA Institute Code of Ethics and the Standards of Professional Conduct, one Standard per episode, using fully fictional scenarios.
How is the podcast structured?
Each episode uses a two host format: one host explains the material while the other plays a fictional exam candidate who asks questions and works through the scenarios out loud.