{"id":10890,"date":"2026-09-22T06:00:00","date_gmt":"2026-09-21T21:00:00","guid":{"rendered":"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l3-ethics-lm4\/"},"modified":"2026-09-22T07:44:44","modified_gmt":"2026-09-21T22:44:44","slug":"cfa-l3-ethics-lm4","status":"publish","type":"post","link":"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l3-ethics-lm4\/","title":{"rendered":"\u3010CFA\u00ae\ufe0e L3 Ethics LM4\u3011Guidance for Standard III: Duties to Clients \u3092\u8981\u70b9\u89e3\u8aac\uff5c\u5fe0\u5b9f\u30fb\u614e\u91cd\u30fb\u6ce8\u610f\u30fb\u516c\u6b63\u306a\u53d6\u6271\u3044\u30fb\u9069\u5408\u6027\u30fb\u5b88\u79d8\u7fa9\u52d9"},"content":{"rendered":"<style>\n.cfalm-los{counter-reset:los;list-style:none;padding:0!important;margin:1em 0!important}\n.cfalm-los li{border:1px solid #d5d9e3;border-left:4px solid #172152;border-radius:4px;padding:.8em 1em!important;margin:0 0 .8em!important;background:#fff}\n.cfalm-los li::before{display:none!important;content:none!important}\n.cfalm-los .ja{display:block;font-weight:bold;color:#172152;line-height:1.6}\n.cfalm-los .en{display:block;font-size:.85em;color:#667;margin-top:.3em;line-height:1.5;word-break:normal!important;overflow-wrap:anywhere}\n.cfalm-sum{background:#f6f7fb;border-radius:6px;padding:1em 1.2em!important;margin:1em 0!important;list-style:none!important}\n.cfalm-sum li{position:relative;margin:.4em 0!important;padding:0 0 0 1.1em!important;line-height:1.7;list-style:none!important}.cfalm-sum li::before{content:\"\"!important;display:block!important;position:absolute!important;left:0!important;top:.7em!important;width:6px!important;height:6px!important;border-radius:50%!important;background:#172152!important;border:none!important;transform:none!important}\n.cfalm-f{background:#f6f7fb;border-left:4px solid #172152;padding:.7em 1em;margin:.8em 0;font-family:\"Menlo\",\"Consolas\",monospace;font-size:.95em;overflow-x:auto}\n.cfalm-nav{background:#f6f7fb;padding:1em 1.2em;border-radius:6px;margin:1em 0;word-break:normal;overflow-wrap:anywhere}\n<\/style>\n<div class=\"box05\">\n<p>Learning Module 4\u300cGuidance for Standard III: Duties to Clients\uff08\u57fa\u6e96III\uff1a\u9867\u5ba2\u306b\u5bfe\u3059\u308b\u7fa9\u52d9\uff09\u300d\u306f\u3001\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u30fb\u30de\u30cd\u30b8\u30e3\u30fc\u3084\u30a6\u30a7\u30eb\u30b9\u30fb\u30a2\u30c9\u30d0\u30a4\u30b6\u30fc\u304c\u9867\u5ba2\u306b\u5bfe\u3057\u3066\u8ca0\u30465\u3064\u306e\u7fa9\u52d9\uff08\u5fe0\u5b9f\u30fb\u614e\u91cd\u30fb\u6ce8\u610f\u3001\u516c\u6b63\u306a\u53d6\u6271\u3044\u3001\u9069\u5408\u6027\u3001\u904b\u7528\u6210\u7e3e\u306e\u63d0\u793a\u3001\u5b88\u79d8\u7fa9\u52d9\uff09\u3068\u3001\u305d\u308c\u3092\u5b9f\u52d9\u3067\u679c\u305f\u3059\u305f\u3081\u306e\u624b\u7d9a\u3092\u6271\u3046\u5358\u5143\u3067\u3059\u3002<\/p>\n<p>\u672c\u8a18\u4e8b\u3067\u306f\u3001\u6700\u65b0\u7248\u30ab\u30ea\u30ad\u30e5\u30e9\u30e0\u306eLOS\uff08Learning Outcome Statement\uff09\u3068\u3001\u3053\u306e\u5358\u5143\u306e\u91cd\u8981\u8ad6\u70b9\u3092\u65e5\u672c\u8a9e\u3067\u6574\u7406\u3057\u307e\u3057\u305f\u3002<\/p>\n<\/div>\n<h2>LM4\u306eLOS\uff08\u5b66\u7fd2\u76ee\u6a19\uff09<\/h2>\n<p>LOS\u306f\u3001\u3053\u306e\u5358\u5143\u3067\u300c\u3067\u304d\u308b\u3088\u3046\u306b\u306a\u308b\u3079\u304d\u3053\u3068\u300d\u3068\u3057\u3066\u793a\u3055\u308c\u3066\u3044\u308b\u5b66\u7fd2\u76ee\u6a19\u3067\u3059\u3002LM4\u306b\u306f2\u3064\u306eLOS\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<ol class=\"cfalm-los\">\n<li><span class=\"ja\">LOS 1\uff1aCFA\u5354\u4f1a\u306e\u502b\u7406\u898f\u7bc4\u3068\u3001\u8077\u696d\u4e0a\u306e\u8aa0\u5b9f\u6027\u304c\u554f\u984c\u3068\u306a\u308b\u3055\u307e\u3056\u307e\u306a\u72b6\u6cc1\u306b\u3064\u3044\u3066\u5341\u5206\u306a\u77e5\u8b58\u3092\u793a\u3059<\/span><span class=\"en\">demonstrate a thorough knowledge of the CFA Institute Code of Ethics and Standards of Professional Conduct by interpreting the Code and Standards in various situations involving issues of professional integrity<\/span><\/li>\n<li><span class=\"ja\">LOS 2\uff1a\u502b\u7406\u898f\u7bc4\u3068\u8077\u696d\u884c\u70ba\u57fa\u6e96\u3078\u306e\u9055\u53cd\u3092\u9632\u3050\u305f\u3081\u306e\u5b9f\u52d9\u3068\u624b\u7d9a\u3092\u63a8\u5968\u3059\u308b<\/span><span class=\"en\">recommend practices and procedures designed to prevent violations of the Code and Standards<\/span><\/li>\n<\/ol>\n<h2>LM4\u306e\u307e\u3068\u3081<\/h2>\n<p>\u3053\u306e\u5358\u5143\u306e\u8981\u70b9\u3092\u307e\u3068\u3081\u308b\u3068\u3001\u6b21\u306e\u3068\u304a\u308a\u3067\u3059\u3002<\/p>\n<ul class=\"cfalm-sum\">\n<li>\u9867\u5ba2\u306b\u5bfe\u3059\u308b\u5fe0\u5b9f\u30fb\u614e\u91cd\u30fb\u6ce8\u610f\u306e\u7fa9\u52d9\u306f\u3001\u6cd5\u4ee4\u4e0a\u306e\u53d7\u8a17\u8005\u8cac\u4efb\uff08fiduciary duty\uff09\u306e\u6709\u7121\u306b\u304b\u304b\u308f\u3089\u305a\u6c42\u3081\u3089\u308c\u3001\u9867\u5ba2\u306e\u5229\u76ca\u3092\u5e38\u306b\u512a\u5148<\/li>\n<li>\u904b\u7528\u6a29\u9650\u306e\u7bc4\u56f2\u3068\u3001\u8ab0\u306b\u5bfe\u3057\u3066\u7fa9\u52d9\u3092\u8ca0\u3046\u304b\uff08\u53d7\u76ca\u8005\u3092\u542b\u3080\uff09\u306e\u7406\u89e3\u304c\u524d\u63d0<\/li>\n<li>\u516c\u6b63\u306a\u53d6\u6271\u3044\u306f\u3001\u63a8\u5968\u306e\u4f1d\u9054\u3068\u6295\u8cc7\u884c\u52d5\u306e\u4e21\u9762\u3067\u6c42\u3081\u3089\u308c\u3001\u7279\u5b9a\u306e\u9867\u5ba2\u3092\u4e0d\u5229\u306b\u3057\u306a\u3044\u53d6\u5f15\u914d\u5206\u304c\u5fc5\u8981<\/li>\n<li>\u9069\u5408\u6027\u306f\u3001\u500b\u5225\u306e\u6295\u8cc7\u3067\u306f\u306a\u304f\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u5168\u4f53\u306e\u6587\u8108\u3067\u5224\u65ad\u3057\u3001\u7279\u5b9a\u306e\u904b\u7528\u65b9\u91dd\u306b\u57fa\u3065\u304f\u5834\u5408\u306f\u305d\u306e\u65b9\u91dd\u306e\u9806\u5b88\u304c\u6c42\u3081\u3089\u308c\u308b<\/li>\n<li>\u904b\u7528\u6210\u7e3e\u306e\u63d0\u793a\u306f\u3001\u516c\u6b63\u30fb\u6b63\u78ba\u30fb\u5b8c\u5168\u3067\u3042\u308b\u3053\u3068\u304c\u5fc5\u8981\u3067\u3001GIPS\u306e\u9806\u5b88\u304c\u63a8\u5968\u3055\u308c\u308b<\/li>\n<li>\u9867\u5ba2\u60c5\u5831\u306f\u3001\u73fe\u5728\u30fb\u904e\u53bb\u30fb\u898b\u8fbc\u307f\u9867\u5ba2\u306e\u3044\u305a\u308c\u306b\u3064\u3044\u3066\u3082\u5b88\u79d8\u306e\u5bfe\u8c61<\/li>\n<\/ul>\n<p>\u4ee5\u4e0b\u3001LOS\u3054\u3068\u306b\u91cd\u8981\u8ad6\u70b9\u3092\u6574\u7406\u3057\u307e\u3059\u3002<\/p>\n<h3>LOS 1\uff1a\u904b\u7528\u5b9f\u52d9\u306b\u304a\u3051\u308b\u57fa\u6e96III\u306e\u7406\u89e3<\/h3>\n<p>\u904b\u7528\u62c5\u5f53\u8005\u306f\u3001\u65e5\u3005\u306e\u6295\u8cc7\u5224\u65ad\u30fb\u53d6\u5f15\u57f7\u884c\u30fb\u5831\u544a\u306e\u5404\u6bb5\u968e\u3067\u9867\u5ba2\u3078\u306e\u7fa9\u52d9\u3092\u8ca0\u3044\u307e\u3059\u3002<strong>\u9867\u5ba2\u5229\u76ca\u306e\u512a\u5148<\/strong>\u3068<strong>\u5168\u9867\u5ba2\u306e\u516c\u6b63\u306a\u53d6\u6271\u3044<\/strong>\u304c\u4e2d\u5fc3\u3067\u3059\u3002<\/p>\n<ul>\n<li>III(A)\uff1a\u53d7\u76ca\u8005\u3092\u542b\u3080\u9867\u5ba2\u306e\u7279\u5b9a\u3001\u6700\u826f\u57f7\u884c\u3001\u9867\u5ba2\u306e\u30d6\u30ed\u30fc\u30ab\u30ec\u30c3\u30b8\u306e\u9069\u6b63\u5229\u7528\u3001\u8b70\u6c7a\u6a29\u306e\u884c\u4f7f<\/li>\n<li>III(B)\uff1a\u63a8\u5968\u30fb\u53d6\u5f15\u306e\u516c\u6b63\u306a\u914d\u5206\u3001\u4eba\u6c17IPO\u306e\u7279\u5b9a\u9867\u5ba2\u3084\u81ea\u5df1\u53e3\u5ea7\u3078\u306e\u512a\u5148\u914d\u5206\u306e\u7981\u6b62<\/li>\n<li>III(C)\uff1a\u9867\u5ba2\u306e\u76ee\u7684\u30fb\u5236\u7d04\u306b\u7167\u3089\u3057\u305f\u9069\u5408\u6027\u3001\u904b\u7528\u65b9\u91dd\u304b\u3089\u306e\u9038\u8131\u306e\u7981\u6b62<\/li>\n<li>III(D)\uff1a\u516c\u6b63\u30fb\u6b63\u78ba\u30fb\u5b8c\u5168\u306a\u6210\u7e3e\u60c5\u5831<\/li>\n<li>III(E)\uff1a\u9055\u6cd5\u884c\u70ba\u30fb\u6cd5\u5f8b\u4e0a\u306e\u7fa9\u52d9\u30fb\u9867\u5ba2\u306e\u8a31\u53ef\u4ee5\u5916\u3067\u306e\u958b\u793a\u306e\u7981\u6b62<\/li>\n<\/ul>\n<h3>LOS 2\uff1a\u4f1a\u54e1\u500b\u4eba\u3068\u4f1a\u793e\u306b\u6c42\u3081\u3089\u308c\u308b\u624b\u7d9a<\/h3>\n<p>\u9867\u5ba2\u3078\u306e\u7fa9\u52d9\u3092\u7d44\u7e54\u3068\u3057\u3066\u679c\u305f\u3059\u306b\u306f\u3001<strong>IPS\u3001\u53d6\u5f15\u914d\u5206\u65b9\u91dd\u3001\u6210\u7e3e\u63d0\u793a\u306e\u57fa\u6e96<\/strong>\u306e\u6574\u5099\u304c\u6b20\u304b\u305b\u307e\u305b\u3093\u3002<\/p>\n<ul>\n<li>IPS\u306e\u4f5c\u6210\u3068\u5b9a\u671f\u7684\u30fb\u91cd\u8981\u306a\u5909\u5316\u6642\u306e\u66f4\u65b0<\/li>\n<li>\u53d6\u5f15\u914d\u5206\u624b\u7d9a\u306e\u6587\u66f8\u5316\u3068\u9867\u5ba2\u3078\u306e\u958b\u793a\u3001\u5b9a\u671f\u7684\u306a\u53e3\u5ea7\u30ec\u30d3\u30e5\u30fc<\/li>\n<li>\u30b5\u30fc\u30d3\u30b9\u6c34\u6e96\u306e\u958b\u793a\u3068\u3001\u5168\u9867\u5ba2\u304c\u5229\u7528\u3067\u304d\u308b\u5f62\u3067\u306e\u63d0\u4f9b<\/li>\n<li>\u8b70\u6c7a\u6a29\u884c\u4f7f\u306e\u65b9\u91dd\u3068\u8a18\u9332<\/li>\n<li>\u30b3\u30f3\u30dd\u30b8\u30c3\u30c8\u306b\u3088\u308b\u6210\u7e3e\u63d0\u793a\u3068\u5fc5\u8981\u306a\u958b\u793a<\/li>\n<li>\u5b89\u5168\u306a\u901a\u4fe1\u624b\u6bb5\u3068\u60c5\u5831\u7ba1\u7406<\/li>\n<\/ul>\n<h2>\u52b9\u7387\u3088\u304f\u5b66\u3076\u306b\u306f FA-Academy<\/h2>\n<p>CFA\u00ae\ufe0e\u306e\u5354\u4f1a\u30c6\u30ad\u30b9\u30c8\u306f\u82f1\u8a9e\u3067\u5206\u91cf\u3082\u591a\u304f\u30011\u3064\u3072\u3068\u3064\u306e\u5358\u5143\u3092\u82f1\u8a9e\u3060\u3051\u3067\u7406\u89e3\u3057\u3066\u3044\u304f\u306e\u306f\u5927\u304d\u306a\u8ca0\u62c5\u3067\u3059\u3002<\/p>\n<p>FA-Academy\uff08Financial Analyst Academy\uff09\u306f\u3001<strong>\u65e5\u672c\u8a9e\u3067\u5b66\u3079\u308b\u6570\u5c11\u306a\u3044CFA\u00ae\ufe0e\u8a66\u9a13\u30b5\u30dd\u30fc\u30c8<\/strong>\u3067\u3059\u3002\u3053\u308c\u307e\u3067 Level 1 \u304b\u3089 Level 3 \u307e\u3067\u591a\u304f\u306e\u5408\u683c\u8005\u3092\u8f29\u51fa\u3057\u3066\u304a\u308a\u3001\u5408\u683c\u8005\u306e\u65b9\u3005\u3068\u306e\u5bfe\u8ac7\u3082\u6570\u591a\u304f\u516c\u958b\u3057\u3066\u3044\u307e\u3059\u3002\u3069\u3093\u306a\u65b9\u304c\u3001\u3069\u306e\u3088\u3046\u306b\u5408\u683c\u3055\u308c\u305f\u306e\u304b\u306f<a href=\"https:\/\/triumphmind.com\/cfa\/category\/gokaku\/\" target=\"_blank\" rel=\"noopener\">\u5408\u683c\u8005\u5bfe\u8ac7\u30fb\u5408\u683c\u4f53\u9a13\u8ac7\u306e\u4e00\u89a7<\/a>\u304b\u3089\u3054\u89a7\u3044\u305f\u3060\u3051\u307e\u3059\u3002<\/p>\n<ul>\n<li><a href=\"https:\/\/triumphmind.com\/cfa\/level3-mail\/\" target=\"_blank\" rel=\"noopener\">Level 3 \u65e5\u672c\u8a9e\u8981\u70b9\u96c6\u306e\u7121\u6599\u30b5\u30f3\u30d7\u30eb\u3092\u53d7\u3051\u53d6\u308b\uff087\u65e5\u9593\u30e1\u30fc\u30eb\u8b1b\u5ea7\uff09<\/a><\/li>\n<li><a href=\"https:\/\/timerex.net\/s\/cfa.tips.slack_2a23\/e72e883e\/\" target=\"_blank\" rel=\"noopener\">\u7121\u6599\u500b\u5225\u9762\u8ac7\u3092\u4e88\u7d04\u3059\u308b\uff08\u5b66\u7fd2\u8a08\u753b\u306e\u3054\u76f8\u8ac7\uff09<\/a><\/li>\n<li><a href=\"https:\/\/triumphmind.com\/cfa\/course\/\" target=\"_blank\" rel=\"noopener\">\u53d7\u8b1b\u6848\u5185\uff08\u30b3\u30fc\u30b9\u4e00\u89a7\u30fb\u53d7\u8b1b\u6599\uff09\u3092\u898b\u308b<\/a><\/li>\n<\/ul>\n<div class=\"cfalm-nav\">\u524d\u306e\u5358\u5143\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l3-ethics-lm3\/\">LM3 Guidance for Standard II: Integrity of Capital Markets\uff08\u57fa\u6e96II\uff1a\u8cc7\u672c\u5e02\u5834\u306e\u5065\u5168\u6027\uff09<\/a><br \/>\n\u6b21\u306e\u5358\u5143\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l3-ethics-lm5\/\">LM5 Guidance for Standard IV: Duties to Employers\uff08\u57fa\u6e96IV\uff1a\u96c7\u7528\u4e3b\u306b\u5bfe\u3059\u308b\u7fa9\u52d9\uff09<\/a><br \/>\n\u5168\u4f53\u306e\u76ee\u6b21\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/cfa-curriculum\/#l3-ethics\">CFA\u00ae\ufe0e \u5b66\u7fd2\u5185\u5bb9\u306e\u76ee\u6b21\uff08Level 3 Ethical and Professional Standards\uff09<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>CFA\u00ae\ufe0e Level 3 Ethical and Professional Standards LM4\u300cGuidance for Standard III: Duties to Clients\uff08\u57fa\u6e96III\uff1a\u9867\u5ba2\u306b\u5bfe\u3059\u308b\u7fa9\u52d9\uff09\u300d\u306eLOS\uff08\u5b66\u7fd2\u76ee\u6a19\uff09\u3068\u91cd\u8981\u8ad6\u70b9\u3092\u3001\u6700\u65b0\u7248\u30ab\u30ea\u30ad\u30e5\u30e9\u30e0\u306b\u57fa\u3065\u3044\u3066\u65e5\u672c\u8a9e\u3067\u6574\u7406\u3057\u307e\u3057\u305f\u3002<\/p>\n","protected":false},"author":1,"featured_media":11236,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jin_ogp_image_url":"","_jin_last_featured_id":0,"footnotes":""},"categories":[100],"tags":[],"class_list":["post-10890","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-level3-topics"],"_links":{"self":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/10890","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/comments?post=10890"}],"version-history":[{"count":2,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/10890\/revisions"}],"predecessor-version":[{"id":11374,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/10890\/revisions\/11374"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/media\/11236"}],"wp:attachment":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/media?parent=10890"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/categories?post=10890"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/tags?post=10890"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}