CFA Level 1 Exam: Standards for Representing CFA Designation

Standards for Representing CFA Designation

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Question

Albert and Tye, who recently started their own investment advisory business, have registered to take the Level III CFA examination. Albert's business card reads,

"Judy Albert, CFA Candidate." Tye has not put anything about the CFA designation on his business card, but promotional material that he designed for the business describes the CFA requirements and indicates that Tye participates in the CFA Program and completed Levels I and II. According to the Standards:

Answers

A. Albert has violated the Standards but Tye has not.

B. Neither Albert nor Tye had violated the Standards.

C. Tye has violated the Standards and Albert has not.

D. Both Albert and Tye have violated the Standards.

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Explanations

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A. B. C. D.

The question deals with Standard II (A), Use of Professional Designation. Candidates may not use the designation in any form prior to actually obtaining their charter. Therefore, Albert has violated Standard II (A). Candidates may communicate that they are participating in the CFA Program, however and may state the levels that they have completed. Therefore, Tye has not violated Standard II (A).

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