Question #6
Reading: Reading 42.7 Standards of Professional Conduct Guidance for Standards VII
PDF File: Reading 42.7 Standards of Professional Conduct Guidance for Standards VII.pdf
Page: 2
Status: Incorrect
Correct Answer: A
Your Answer: C
Question
Ralph Lim and Susan Bland have both passed Level I of the CFA Program. Both are currently enrolled to sit for Level II. Lim's business card reads, "Ralph Lim, CFA Level I." Bland's resume states, "Level II Candidate in the CFA Program." According to CFA Institute Standards of Professional Conduct involving use of the professional designation:
Answer Choices:
A. Bland violated the Standard, but Lim did not
B. Lim violated the Standard, but Bland did not
C. Both Lim and Bland violated the Standard
Explanation
There is no designation for someone who has passed Level I, Level II, or Level III of the CFA
examination. Candidates may state, however, that they have completed Level I, II, or III, as
the case may be, in the CFA Program. Thus, Lim violated the Standard, but Bland did not.
(Module 42.10, LOS 42: VII(B))