## Overview

Our free CFA Level III Ethical and Professional Standards notes cover everything you need to know for this module. From standards application in portfolio context, ethical decision-making, to GIPS standards for firms and pooled funds, we've got you covered. Whether you're intensively reviewing or looking to solidify specific concepts, these notes provide added peace of mind, knowing that you have a comprehensive resource to help consolidate and revise effectively for CFA Level III. Think something could be better? [Give us a shout on our contact page](/contact), and we'll take a look.

We've created detailed study guides for all CFA Level III topics. Check out our other free notes below:

- [Ethical and Professional Standards](./cfa-level3-ethical-and-professional-standards)
- [Behavioral Finance](./cfa-level3-behavioral-finance)
- [Private Wealth Management](./cfa-level3-private-wealth-management)
- [Institutional Investors](./cfa-level3-institutional-investors)
- [Capital Market Expectations](./cfa-level3-capital-market-expectations)
- [Asset Allocation and Portfolio Construction](./cfa-level3-asset-allocation-and-portfolio-construction)
- [Fixed-Income Portfolio Management](./cfa-level3-fixed-income-portfolio-management)
- [Equity Portfolio Management](./cfa-level3-equity-portfolio-management)
- [Derivatives and Currency Management](./cfa-level3-derivatives-and-currency-management)
- [Alternative Investments and Private Markets](./cfa-level3-alternative-investments-and-private-markets)
- [Risk Management](./cfa-level3-risk-management)
- [Trading Execution and Rebalancing](./cfa-level3-trading-execution-and-rebalancing)
- [Performance Evaluation and Attribution](./cfa-level3-performance-evaluation-and-attribution)

## 1. Standards application in portfolio context

- [Duties to clients and communication in portfolio recommendations](./cfa-level3-standards-application-in-portfolio-context-duties-to-clients-and-communication-in-portfolio-recommendations)
- [Conflicts of interest and priority of transactions](./cfa-level3-standards-application-in-portfolio-context-conflicts-of-interest-and-priority-of-transactions)
- [Material nonpublic information and market manipulation risks](./cfa-level3-standards-application-in-portfolio-context-material-nonpublic-information-and-market-manipulation-risks)

## 2. Ethical decision-making

- [Frameworks for recognizing situational influences](./cfa-level3-ethical-decision-making-frameworks-for-recognizing-situational-influences)
- [Stakeholder impact and remedies](./cfa-level3-ethical-decision-making-stakeholder-impact-and-remedies)
- [Case analysis and best practice reasoning](./cfa-level3-ethical-decision-making-case-analysis-and-best-practice-reasoning)

## 3. GIPS standards for firms and pooled funds

- [Firm definition composites and carve-outs](./cfa-level3-gips-standards-for-firms-and-pooled-funds-firm-definition-composites-and-carve-outs)
- [Disclosures presentation and reporting requirements](./cfa-level3-gips-standards-for-firms-and-pooled-funds-disclosures-presentation-and-reporting-requirements)
- [Verification performance examinations and advertising](./cfa-level3-gips-standards-for-firms-and-pooled-funds-verification-performance-examinations-and-advertising)


Free CFA Level III Ethical and Professional Standards Study Guide