Ethics Q

[jmuc85]

Brian Crane learns that he has passed the Level II CFA exam on his first attempt and registers for the Level III exam. Which of the following is Crane prohibited from doing under the Code of Ethics and Standards of Professional Conduct?

A) Telling people that he is a Level III candidate.
B) Putting "CFA Candidate" after his name on his business card.
C) Mentioning in his professional resume that he has passed Level II of the CFA exam on his first attempt.
D) Publishing a brochure which includes a statement that he is a participant in the Chartered Financial Analyst program and is a Level III Candidate

Standard VII(B) Reference to CFA Institute.... Candidates may state that they have completed one or more of the levels, but to say they are candidates, they must be registered to take the next scheduled CFA exam.

The correct answer is B. I picked B because it was the only statement I was not sure about. However, Schweser's answer seems to imply that it is OK to use "CFA candidate" because he has indeed registered for the next exam. Is it incorrect because he doesn't say which Level, or because it's on a business card, or...? It just doesn't seem much different than saying "Level 1 Candidate".

Any comments?

 

[Isura]

Ok to say CFA candidate in a resume or written literature. That's a statement of fact, which is not prohibited by the standard. But it's NOT okay to use CFA candidate as a title unless you are a charter holder. Like Joe Blow, CFA is allowed, but Joe Blow, CFA candidate is not.

 

[the show NY]

There are no partial designations allowed. So "CFA Candiate" on a business card is a violation. I agree with you that Schweser's answer doesn't make sense.

 

[jmuc85]

Thanks for the clarification. I think I understood it before I read the Schweser explanation--it just threw me off a little bit. Got it now though.