Q1. 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.

Q2. All of the following statements in promotion of your services are in violation of CFA Institute Standards of Practice handbook EXCEPT:

A)   I guarantee under my management that you will receive returns in excess of the market index average.

B)   based upon my research, you will achieve a 20% compound annual rate of return on small cap stocks over the next 5 years.

C)   I passed Level II of the CFA Program in 2003.

Q3. 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).

Q4. When Wes Smith first joined Advisors, Inc., he was excited that all the analysts at the firm had the CFA designation. In letters to prospective clients, he states that this ensures that Advisors can provide better service than their competitors. With respect to Standard VII(B), Reference to CFA Institute, the CFA Designation, and the CFA Program, this is:

A)   a violation because he mentions the CFA designation in the letter.

B)   a violation for both mentioning the CFA designation and saying the firm can guarantee better service.

C)   a violation because he cannot guarantee better service.

答案和详解如下：

Q1. 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.

Correct answer is B)         

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

Q2. All of the following statements in promotion of your services are in violation of CFA Institute Standards of Practice handbook EXCEPT:

A)   I guarantee under my management that you will receive returns in excess of the market index average.

B)   based upon my research, you will achieve a 20% compound annual rate of return on small cap stocks over the next 5 years.

C)   I passed Level II of the CFA Program in 2003.

Correct answer is C)

Candidates may refer to the CFA level(s) passed and the associated dates as long as a partial designation is not implied. They may not guarantee or promise a given level of return.

Q3. 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.

Q4. When Wes Smith first joined Advisors, Inc., he was excited that all the analysts at the firm had the CFA designation. In letters to prospective clients, he states that this ensures that Advisors can provide better service than their competitors. With respect to Standard VII(B), Reference to CFA Institute, the CFA Designation, and the CFA Program, this is:

A)   a violation because he mentions the CFA designation in the letter.

B)   a violation for both mentioning the CFA designation and saying the firm can guarantee better service.

C)   a violation because he cannot guarantee better service.

Correct answer is C)

According to Standard VII(B), the analyst cannot guarantee better service. Smith can mention the fact that all analysts have the designation, but he is limited in what he can say with respect to this fact. He could say, for example, that this means the analysts all had to take and pass three rigorous exams.