1、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:

A)   Bland violated the Standard, but Lim did not.

B)   Both Lim and Bland violated the Standard.

C)   Neither Lim nor Bland violated the Standard.

D)   Lim violated the Standard, but Bland did not.

2、Which of the following statements is a violation of Standard VII(B) if it is included on a CFA charterholder’s resume?

A)   My earning the CFA designation indicates my superior ability.

B)   My earning the CFA designation indicates my desire to maintain high standards.

C)   My earning the CFA designation required that I pass three rigorous exams.

D)   All of these are violations of Standard VII(B).

3、A CFA Institute member puts the following statement on her resume: “I passed each level of the CFA exam on the first try.” Is this a violation of Standard VII(B)?

A)   No, because it is a statement of fact.

B)   Yes, because she incorrectly refers to the CFA exam.

C)   Yes, because saying she passed exams on the first try is not appropriate.

D)   Yes, because the statement shows a lack of disrespect for fellow members.

4、Ted Willis received his CFA designation in 1998 and was employed as an investment counselor until 2003.  During the past several years, Willis has been out of work because of a serious illness.  He also failed to pay his annual CFA Institute dues during the current year.  Willis has now recovered and accepted a position with an investment advisory firm.  His new business card says, “Ted Willis, CFA.”  As part of his job with his new firm, Willis uses PowerPoint® to make presentations to groups of prospective clients.  He obtained some of these PowerPoint® slides from web sites, but removed the copyright notice before showing the slides to prospective clients.

Which of the following statements about Standard VII(B), Reference to CFA Institute, the CFA Designation, and the CFA Program, and Standard I(C), Misrepresentation, is most accurate? Willis:

A)   violated both Standard VII(B) and Standard I(C).

B)   did not violate either Standard VII(B) or Standard I(C).

C)   violated Standard I(C) but he did not violate Standard VII(B).

D)   violated Standard VII(B) but he did not violate Standard I(C).

5、During 2004 Nancy Arnold received an undergraduate business degree with a management major and completed all requirements for the CFA designation imposed by CFA Institute. She is applying for employment at several brokerage firms. Her resume states, “I was awarded the CFA degree in 2004 by CFA Institute.” Her resume also states that she graduated “with honors” and majored in finance. Her grade point average was 3.48 but “with honors” requires a 3.50 grade point average.

Which of the following statements about Standard VII(B), Reference to CFA Institute, the CFA Designation, and the CFA Program, and Standard I(C), Misrepresentation, is TRUE? Arnold:

A)   did not violate either Standard VII(B) or Standard I(C).

B)   violated Standard I(C) but she did not violate Standard VII(B).

C)   violated both Standard VII(B) and Standard I(C).

D)   violated Standard VII(B) but she did not violate Standard I(C).

答案和详解如下：

1、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:

A)   Bland violated the Standard, but Lim did not.

B)   Both Lim and Bland violated the Standard.

C)   Neither Lim nor Bland violated the Standard.

D)   Lim violated the Standard, but Bland did not.

The correct answer was D)

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.

2、Which of the following statements is a violation of Standard VII(B) if it is included on a CFA charterholder’s resume?

A)   My earning the CFA designation indicates my superior ability.

B)   My earning the CFA designation indicates my desire to maintain high standards.

C)   My earning the CFA designation required that I pass three rigorous exams.

D)   All of these are violations of Standard VII(B).

The correct answer was A)    

A CFA charterholder may not make claims about how earning the designation proves superior capabilities. The other two choices are allowed because they are statements of fact.

3、A CFA Institute member puts the following statement on her resume: “I passed each level of the CFA exam on the first try.” Is this a violation of Standard VII(B)?

A)   No, because it is a statement of fact.

B)   Yes, because she incorrectly refers to the CFA exam.

C)   Yes, because saying she passed exams on the first try is not appropriate.

D)   Yes, because the statement shows a lack of disrespect for fellow members.

The correct answer was A)

The statement is not a violation because it is a fact. However, the member must not go on to claim superior performance.

4、Ted Willis received his CFA designation in 1998 and was employed as an investment counselor until 2003.  During the past several years, Willis has been out of work because of a serious illness.  He also failed to pay his annual CFA Institute dues during the current year.  Willis has now recovered and accepted a position with an investment advisory firm.  His new business card says, “Ted Willis, CFA.”  As part of his job with his new firm, Willis uses PowerPoint® to make presentations to groups of prospective clients.  He obtained some of these PowerPoint® slides from web sites, but removed the copyright notice before showing the slides to prospective clients.

Which of the following statements about Standard VII(B), Reference to CFA Institute, the CFA Designation, and the CFA Program, and Standard I(C), Misrepresentation, is most accurate? Willis:

A)   violated both Standard VII(B) and Standard I(C).

B)   did not violate either Standard VII(B) or Standard I(C).

C)   violated Standard I(C) but he did not violate Standard VII(B).

D)   violated Standard VII(B) but he did not violate Standard I(C).

The correct answer was A)    

Willis violated Standard VII(B) because his right to use the CFA designation was suspended when he stopped paying CFA Institute dues. Thus, he can no longer use the CFA designation on his business card. Willis also violated Standard I(C) because he was guilty of plagiarism. He inappropriately used copyrighted material, which provided the impression that such material was his own.

5、During 2004 Nancy Arnold received an undergraduate business degree with a management major and completed all requirements for the CFA designation imposed by CFA Institute. She is applying for employment at several brokerage firms. Her resume states, “I was awarded the CFA degree in 2004 by CFA Institute.” Her resume also states that she graduated “with honors” and majored in finance. Her grade point average was 3.48 but “with honors” requires a 3.50 grade point average.

Which of the following statements about Standard VII(B), Reference to CFA Institute, the CFA Designation, and the CFA Program, and Standard I(C), Misrepresentation, is TRUE? Arnold:

A)   did not violate either Standard VII(B) or Standard I(C).

B)   violated Standard I(C) but she did not violate Standard VII(B).

C)   violated both Standard VII(B) and Standard I(C).

D)   violated Standard VII(B) but she did not violate Standard I(C).

The correct answer was C)    

Arnold violated Standard VII(B). The CFA designation should not be referred to as a degree. Arnold also violated Standard I(C) because her claim that she graduated “with honors” is not true.