土豆妮

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

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

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

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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.

土豆妮

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

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

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

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

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Passing each exam in two or fewer tries is not required to maintain active status as a member of the CFA Institute. CFA Institute imposes both of the other choices.

土豆妮

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

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

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

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Stades is allowed to state that she earned the designation as long as she does not infer that she currently has the designation. The letters “CFA” are only to be used as an adjective, and she does that.

土豆妮

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.

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

土豆妮

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

A) Both of these are violations of Standard VII(B).

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

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

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A CFA charterholder may not make claims about how earning the designation proves superior capabilities. Saying "my earning the CFA designation indicates my desire to maintain high standards" is allowed because it is a factual statement