Reading 2-VII: Standards of Professional Conduct & Guida

includes, following, his, class, business

Q16. Jake Miles, CFA, includes the following phrase on his business card: “Jake Miles is your trusted local CFA.” Is this a violation of Standard VII(B)?

A) Yes, because he cannot put the initials "CFA" on his business card.

B) Yes, because he uses CFA as a noun.

C) No, because his CFA Institute membership indicates that he is indeed trustworthy.

Q17. Lucy Ackert and Chris Brown prepared the following information to be included in the promotional materials of their employer, Lofton Securities.

Lucy Ackert is one of five CFAs at Lofton Securities. She satisfied all requirements for the CFA designation in 1998.

Chris Brown holds a CFA Level I designation, which he passed in 2001. He is registered to take the next scheduled Level II examination.

Are the promotional materials prepared by Ackert and Brown fully consistent with the Standards of Professional Conduct?

A) Ackert: Yes. Brown: No.

B) Ackert: No. Brown: Yes.

C) Ackert: No. Brown: No.

Q18. Julie Stades retired several years ago and relinquished her membership in CFA Institute. She had the CFA designation up until then. She has decided to go back to work and puts the following statement on her resume: “I earned the CFA designation 10 years ago.” Is this a violation of Standard VII(B)?

A) Yes, she has used the letters "CFA" in an undignified manner.

B) No, as long as she does not indicate she currently has the designation.

C) Yes, because she uses "CFA" as a noun.

Q19. All of the following are required for a CFA Institute member to maintain his or her active status EXCEPT:

A) Passing each exam in no more than two tries.

B) remit a completed Professional Conduct Statement on an annual basis.

C) paying membership dues to CFA Institute on an annual basis.