CFAI Ethics Reading 2 Question 77

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SydCFAL3

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Hi,
The answer for Question 77 is A) No.
However I believe this is incorrect because if you look on page 172, in the column for improper references it has an example of: -
“Level III Cfa Candidate” and in the item set it says
in the marketing brochure PIA States: “May Chau is a level III Candidate in the CFA Program”
My understanding was that if a year wasn’t mentioned e.g. “I am a 2010 Level III Candidate in the CFA Program” that it wasn’t valid to present it that way.
Would appreciate your feedback. I am also going to email the institute regarding this one.
Thanks.
 
Interesting, nice catch. I always thought that you could say, “J Sobes, CFA Level 3 Candidate.” But not the other way around, “J Sobes, Level 3 CFA Candidate”
 
Please refer to Exhibit 3, Pg 144 (I am referring to my 2014 books) but it does say “I am a 2010 Level III CFA candidate.” is a valid reference.
(Institute 144)
 
I mentioned that above, which is from page 172 of the 2015. However a year is mentioned there, in the item set there isn’t a year mentioned.
 
do not see an issue with that.
Chau is enrolled to sit for the Level III CFA examination. In its marketing brochure, PIA states: “May Chau is a Level III candidate in the CFA Program.” By virtue of being enrolled in the exam - he is a Level III candidate, that part is fine. Since that part is fine - he has definitely passed the LEvel II examination. So the suggested change is the truth, hence not a violation either.
If you looked at all the improper references - there is a common thread - they identify with “superior results/skills/ability and / or indicate “expected” (which may not pan out) or are wrong (e.g. CFA Level II - which does not exist).
 
So are you saying a CFA Level III Candidate doesn’t exist? Because that statement doesn’t imply anything superior, ability ot expected. It is a statement of fact and yet is an incorrect reference.
The guideline answers hints at a reference to an upcoming exam and yet in the answer (which was my original query) no date is mentioned, nor use of the word current.
 
I read on another thread posted in the CFA General section about a specific change in 2015 relating to mentioning the year of candidacy.
Please let us know what the institute says.
 
Curriculum shows “Level III CFA Candidate” is wrong. But why? Can’t find the rationale from the book…
 
Hi guys, I have the official answer from the institue (I sent them an email.
Chau is currently enrolled in the CFA Program, so is able to state her candidacy in the marketing brochure. If she did not sit the upcoming exam or if she postponed her candidacy, then there would be a violation in the claim. Because Chau is a current Level III candidate the brochure is correct, and because she has passed Level II the suggested change is also correct. I hope this helps.
Therefore it would seem to be based on the current status of your enrolment. Anyways it is only 1 nuance but hopefully we will all be better equipped to handle it going forward.
 
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