Review a compact LLQP Ethics Common Law cheat sheet for contract law, representative conduct, disclosure, conflicts, privacy, suitability, replacement, documentation, and escalation traps before Finance Prep practice.
Use this Ethics Common Law cheat sheet before a module set. The strongest answer usually protects the client record, stays within licensed authority, discloses and manages conflicts, and documents the decision before moving forward.
| Item | Ethics Common Law cue |
|---|---|
| Program | LLQP |
| Module | Ethics and Professional Practice, common-law provinces |
| Common format cue | scenario-based licensing questions on legal duties and representative conduct |
| Main practice behavior | identify the duty, disclosure, consent, documentation, or escalation step |
| Finance Prep status | live practice available |
| Area | Weight | What to know | Common trap |
|---|---|---|---|
| Contract law | 50% | offer and acceptance, consideration, capacity, insurable interest, contract changes, misrepresentation | treating a contract issue as a sales preference |
| Representative conduct | 50% | conflicts, disclosure, privacy, suitability, replacement, compensation, complaints, documentation | assuming disclosure alone fixes every conduct problem |
Use this sequence when an answer choice looks convenient but the fact pattern raises a client-protection issue. The strongest answer usually fixes the control gap before any sale, replacement, or servicing action continues.
flowchart LR
Facts["Client facts"] --> Duty["Duty or authority"]
Duty --> Risk["Conflict, privacy, suitability, or complaint risk"]
Risk --> Control["Disclosure, consent, documentation, or escalation"]
Control --> Action["Compliant next action"]
Use this table after a missed Ethics Common Law item to decide what to drill next.
| Controlling factor | What to drill next |
|---|---|
| The representative lacked authority or stepped outside role limits | licensing scope, permitted activity, referral, documentation |
| The recommendation was not supported by client facts | needs analysis, suitability, affordability, disclosure of assumptions |
| A conflict or compensation issue was present | conflict identification, disclosure, management, escalation, refusal when needed |
| Sensitive information was handled incorrectly | privacy purpose, consent, access, file handling, client communication |
| The client raised dissatisfaction or alleged harm | service issue versus complaint, complaint handling, documentation, escalation |
When you miss an ethics question, ask which control was missing: authority, disclosure, consent, suitability, privacy, documentation, or escalation. Drill the matching topic page until the compliant next step is obvious before returning to mixed practice.