- CFA Exams
- CFA Level I Exam
- Topic 10. Ethical and Professional Standards
- Learning Module 3. Guidance for Standards I-VII
- Subject 22. Standard VII (B) Reference to CFA Institute, the CFA Designation, and the CFA Program
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?
B. Only Zeller has violated the Code and Standards.
C. Only Toffler has violated the Code and Standards.
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. |