A philosophical argument is considered valid if the truth of the premises logically create a truthful conclusion. In this way, an argument based on false premises can still be considered valid.
On the other hand, an argument can only be considered sound if all of the premises are actually true and also logically lead to a truthful conclusion.
On first reading, this argument sounds both valid and sound. The only questionable part of the above statement is the first premise, "All forms of cheating are ethically wrong." The question "What is ethical?" could be considered subjective, which makes this a valid and sound argument based on the presumption that cheating is always unethical.
Consider that there might be time where cheating, say, a corrupt system for example, might result in a more ethical situation than the system in place. In such a case, the first premise of this statement could be considered falsifiable.