Q20. 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)   violated both Standard VII(B) and Standard I(C).

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

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

Q21. 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 desire to maintain high standards.

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

答案和详解如下：

Q20. 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)   violated both Standard VII(B) and Standard I(C).

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

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

Correct answer is A)

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.

Q21. 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 desire to maintain high standards.

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

Correct answer is C)

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

THX

thanks

t

thanks