CFA Practice Question

There are 361 practice questions for this study session.

CFA Practice Question

Zeller and Toffler have both passed Level II of the CFA Exam Program. Zeller circulates a resume stating that he is a candidate for the CFA designation and has passed Level II of the CFA Program. Toffler circulates a resume stating that he is a CFA II. Which of the following statements is correct?

A. Both Zeller and Toffler have violated the Code and Standards.
B. Only Zeller has violated the Code and Standards.
C. Only Toffler has violated the Code and Standards.
Correct Answer: A

User Contributed Comments 14

User Comment
kalps CFA II is not a recognised designation by the CFA
sharon The question didn't state that Zeller has registered level III and therefore, "he is a candidate for the CFA designation" seems not appropriate!
morpheus918 Toffler used CFA as a noun. C is correct.
Tomm I believe they both have violated the code and standards.
Gina i think Zeller can state that he has passed level II or the CFA exam or that he is a level III candidate in the CFA program [that's at least what it says in the CFA Institute book, page 20]. the wrong statement is saying that he is a candidate for the *CFA designation*.
Toffler uses CFA as a noun and uses a partial designation that does not exist.
mrevil Zeller - "has passed Level II of the CFA program" - correct
"candidate for CFA designation" - incorrect, candidate for Level III (if enrolled) - possible
pjudin Level II of the cfa designation - partial designation, which is notcorrect
valeris The trick is that you have to be registered for the next part of exam to claim to be a candidate.
TammTamm The problem with Zeller is he said he's a candidate for the CFA designation, he is a candidate but just a Level II candidate.
HenryQ So is there such as thing called 'candidate for the CFA designation'...when you pass all three levels? Probably not.
viannie Thanks for clarification, yes, he needs to register for Level III to be considered candidate. He can only state that he passed CFA Level II.
elisheva good discussion on candidate in the CFA Program vs. candidate for the CFA designation.
hyperinflation Right or wrong, that's stupid. So the day that you finish taking the test, you are no longer a CFA candidate??? Even if you have full intention of registering for the next level as soon as you learn that you passed the test!?!? That's absurd. I think the reason it was incorrect is because he should have put "CFA candidate". Would CFA institute hit you with such a ridiculous technicality??
schweitzdm If you just took the test, you are considered a candidate until you get notice of your test results. Then you are no longer a candidate. Once you enroll for the next level, you are then a candidate again.

For the cast of Level 3, check the question before this one.
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