CFA Practice Question

There are 361 practice questions for this study session.

CFA Practice Question

John Snider earned the right to use the CFA designation in September 1988. He recently retired from the investment management profession. Since he is retired, John no longer attends CFA Institute society meetings and has stopped paying his CFA Institute dues. According to the Standards, how should John refer to his affiliation with the CFA Program?
A. John Snider, CFA
B. John Snider, CFA (retired)
C. "I was awarded the CFA charter in 1988."
Explanation: If a charterholder fails to pay dues for any year, the right to use the CFA designation is suspended. However, stating that he was awarded the CFA charter in 1988 is a fact.

User Contributed Comments 5

User Comment
TarriqP I disagree. The statement "I was awarded the CFA charter in 1988" implies that he is still a charterholder...
MatsevychO I agree with TarriqP. don't understand why C is correct
charliedba he said he 'was'. It did not imply anything about what he is now.
Benn09 So from a normal person to person conversation, if someone told you, "I was awarded the CFA charter in 1988", you would take that to mean they still were one. But grammatically he is just stating a fact, and although it might be a little misleading, it isn't incorrect.
gyee2012 The best case would be C....
Choice A would violate Standard VII for misrepresenting the membership and be misleading...
Choice B states (retired)... however, you still have to pay dues at a lower value if you want to retain that retired status
Worst case out of the selection would be C... Although it does state he earned the CFA title in 1988, its not misrepresenting but it can be misleading depending on the delivery
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