Today I finished study session 2, which ended up being quite short. Readings 5-7 were case studies where multiple ethics violations were present. The reading went on to describe the violations and how they could be prevented/corrected. These were short readings and good to see the Ethics and Standards represented in practical situations (they will help for the exam preparation). I did not need to write notes so I finished them quicker than I expected. Readings 8 and 9 were similar and showed real-life examples where people had broken the law and been prosecuted by the SEC. Again, I didn’t need to write notes.
Reading 10 focused on the Prudent Investor Rule. This states that trustees must exercise care, skill and caution when managing trust assets. The Prudent Investor Rule is a bit different from the previous Prudent Man Rule. Instead of avoiding risk altogether, trustees may now determine a risk/return tradeoff which would be in the beneficiary’s best interest. It was quite interesting to go over.
Next is Quantitative Methods which is apparently one of the more difficult topics. I am slightly ahead of schedule, so I do not have to rush through it..
115 days until the level 2 exam.
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