[CFA Level I] 11, Communicating Risks and Keeping Research Records

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.

In this episode you will learn:

• How to distinguish historical facts from analytical opinions in research communications.

• The obligation to disclose investment process changes and material risk factors to clients.

• Key record retention rules and the CFA Institute seven-year recommendation when policies are silent.

• Why research files and analytical models created during employment remain firm property.

• An exam-relevant trap regarding departing analysts taking proprietary work product.

This independent study resource helps candidates prepare for the CFA Level I exam. Practice tools are available at https://open-exam-prep.com/practice/cfa-level1 and video tutorials at https://www.youtube.com/@Open-exam-prep .

Sources checked: October 12, 2026

• https://www.cfainstitute.org/standards/professionals/code-ethics-standards