Question 12.1 Ethical and compliance-driven behaviour
Which of the following behaviours by an adviser at Calder Financial Planning is the clearest POSITIVE indicator of ethical conduct?
The Unit 1 syllabus, version 24
Version 24 of the Unit 1 syllabus applies to exams from 1 December 2026 to 30 November 2027. Version 23 applies until then.
| Version | 24, from 1 December 2026 |
|---|---|
| Topics | Six |
| Questions | 85 |
| Study time | 100 recommended hours |
Question allocation by content area
| Content area | Questions |
|---|---|
| Financial markets and institutions | 10 to 20 |
| Ethics and investment professionalism | 5 to 15 |
| Regulation and legal concepts | 25 to 35 |
| Client advice | 15 to 25 |
| Taxation in the UK | 10 to 20 |
Which version applies to you
- The syllabus runs from 1 December to 30 November each year.
- Exams from 1 December 2026 to 30 November 2027 use version 24.
- You do not have to sit both units under the same syllabus version.
Try 4 questions
Question 24.1 Legal persons, powers of attorney, contract and agency
Kerry is a partner in Holt and Webb, a firm of surveyors. The partnership agreement says no partner may buy equipment over £5,000 without the others' consent. Kerry orders £8,000 of standard surveying equipment from a supplier who knows she is a partner but knows nothing of the limit. Is the firm bound?
Question 36.1 Income tax on earnings, savings and dividends; allowances and trusts
Owen lives in England, earns a salary of £80,000 and receives £1,800 of interest from a bank account in the 2026/27 tax year. How much income tax is due on the interest?
Question 42.1 Ethical and compliance-driven behaviour
Tom, a portfolio manager at Westgate Investors, is asked by a friend at a rival firm for Westgate's internal fee model, which Westgate treats as confidential. Tom is not planning to leave. Which obligation is MOST directly engaged?
Next step
Questions people ask
Which syllabus version applies from December 2026?
Version 24, for exams from 1 December 2026 to 30 November 2027.
Do both units have to be on the same version?
No. CFA UK says candidates are not required to sit both units under the same syllabus.
How long should I study for Unit 1?
CFA UK recommends 100 hours of study for Unit 1.