Everly Smith's Misrepresentation of CFA Level 2 Completion

Explanation

Everly Smith has violated Standard II (A), Use of Professional Designation. There is no designation for someone who has passed Level I, Level II, or Level III, so he may not state "Everly Smith, CFA II." He also can not state he has "completed Charter Financial Analyst II." However, he may state that he is a Level III candidate in the CFA Program. If he passed Level II, but was not registered for Level III he could state "I passed Level II of the CFA Program in the year 19--."

The correct answer is A. Everly Smith is not in compliance with the standards regarding the use of the CFA designation. He may state that he "completed Chartered Financial Analyst II," but he cannot put "CFA II" after his name.

The CFA designation is a globally recognized professional credential awarded by the CFA Institute. The CFA program consists of three levels: Level I, Level II, and Level III. Each level requires a candidate to pass a rigorous examination. However, the designation is only awarded upon successfully completing all three levels of the program, meeting the required work experience, and adhering to the CFA Institute's Code of Ethics and Standards of Professional Conduct.

In this scenario, Everly Smith has passed Level II of the CFA examination. However, he has not yet completed all three levels and fulfilled the other requirements for obtaining the CFA designation. Therefore, it would be inaccurate and misleading for him to represent himself as a "CFA II" or put "CFA II" after his name. The use of the CFA designation is strictly regulated by the CFA Institute, and candidates are expected to adhere to the guidelines to maintain the integrity of the designation.

According to the CFA Institute's guidelines, candidates who have passed one or more levels of the CFA examination may indicate their progress by stating that they have "completed Chartered Financial Analyst Level II" or a similar phrase. However, they should not use the CFA designation or any variation of it until they have successfully completed all three levels and met the other requirements.

Therefore, the statement in option A is correct. Everly Smith may state that he has "completed Chartered Financial Analyst II" but cannot put "CFA II" after his name until he has completed all three levels and obtained the CFA designation.