Joan's CFA Candidate Status and Implications

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Question

Joan, an investment counselor, states in her firm's written promotional material that she is a CFA candidate. She has indeed enrolled in the program, but failed

Level I five years ago, has not taken any exams since and is not enrolled in the next exam. Which of the following statements is correct?

Answers

A. Joan is in compliance with the correct use of the CFA designation because she states she is a candidate.

B. Joan is not in compliance with the correct use of the CFA designation. To be in compliance she must state she is a Level I candidate.

C. None of these answers.

D. Joan is not in compliance with the correct use of the CFA designation. Because she is not registered for the next exam, she is not a candidate.

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Explanations

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A. B. C. D.

Under Standard II (A) - Use of Professional Designation, a person must be registered to take the next scheduled CFA exam to be a "candidate" in the CFA

Program. Therefore, because Joan is not scheduled to take the next exam, she is not a candidate. There is no designation for someone who has passed Level I,

II, or III. However, candidates may state that they have completed Level I, II, or III, as the case may be.

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