CFA Practice Question

There are 361 practice questions for this study session.

CFA Practice Question

Judy Albert and Bob Tye, who recently started their own investment advisory business, have enrolled to take the Level III CFA examination next year. Albert's business card reads, "Judy Albert, CFA Candidate." Tye has not put anything about the CFA designation on his business card. However, the firm's promotional material describes the CFA requirements and indicates that Tye participates in the CFA program and has completed Levels I and II. According to CFA Institute's Standards of Professional Conduct, ______
A. Albert has violated the Standards but Tye has not.
B. Tye has violated the Standards but Albert has not.
C. Both Albert and Tye have violated the Standards.

User Contributed Comments 10

User Comment
cutiepie Tye has not since there is notning wrong with indicating that Tyre participates in the CFA programme and that she has passed level 1 and 2. It is a mattaer of fact.
Alber should have indicated that he is a Level 3 candidate, not just candidate.
danlan Is Albert wrong here?
mtcfa Yes ALbert is wrong. The way he places his candidacy after his name on his business card implies that he has achieved a partial designation.
wollogo Disagree with mtcfa, there is no implication that Albert has achieved partial designation. The problem is that it is on a business card, you may only use "CFA" or "Charted Financial Analyst" after your name. There would be nothing wrong with stating that Albert was a CFA candidate in a firms promotional material.
bondguy Wollogo's explaination is the only one that seems to make sense to me but I am not sure on Albert in this question. I believe you do not have to indicate level ( you can if you like) . I disagree with mtcfa as well.
ROHITWADHWA i beleive albert has violated ,since partial designation not allowed .
ybavly I believe that cutiepie, mtcfa and wollogo in their reference to Albert... Albert is a woman, therefore "she" is the appropriate reference :)
gill15 I think its wrong is because it's not specific. You cant just say you are a CFA candidate...that could mean your level one, two or three. Throughout the notes it says to be CLEAR and not exaggerate. You have to states facts
rjdelong The LOS clearly settles this if you read the bottom under "CFA Mark" and "Applications". Essentially, you are not allowed to put "CFA candidate" after your name, this makes it seem like a designation. You are allowed to write in general that you are a CFA candidate and also state what level you have passed if you would like to (you are not mandated to disclose what level if you do not want to).
Cunctator You can put "CFA Candidate" in your resume, but in a business card.
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