Standards of Practice Exam

The self-administered Ethics Exam for members and non-members tests ethical awareness.

This online self-test consists of multiple-choice questions based on information contained in the 11th edition of the Standards of Practice Handbook.

Who Should Take the Exam?
  • Individuals who have not passed Level I of the CFA Program but wish to join CFA Institute as a regular member
  • Any applicant to a member society that requires passing the Ethics Exam
  • Anyone — students, young professionals, prospective employees — who has been asked to test for understanding of the Code of Ethics and Standards of Professional Conduct
How to Access the Exam

To meet membership requirements: If you are required to take the exam, you will be prompted to complete the exam when you activate your membership. The notification will contain links to the Standards of Practice Handbook.

To voluntarily self-test your understanding: Take the exam (login required)

CFA Institute members: You can get credit for successfully completing the Standards of Practice exam by using your online CE tracking tool; select Record Credits in the Credits section of this Standards of Practice Handbook exam page.


The exam is graded electronically. You will receive your score immediately. Once you have passed the exam, you will be able to complete the membership activation process.

Need more information? Contact us