Tell Your Employer You Failed ?

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Wendy

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If it turns out that you failed the CFA exam, should you fess up to your employer?
According to the CFAI: Yes, you should…
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CURRENT INDUSTRY-RELATED SANCTIONS
http://www.cfainstitute.org/ethics/conduct/Pages/current_industry_relate...
DOWNEN, GLENN H. (USA)
On November 6, 2003, AIMR imposed the sanction of Prohibition from Participation in the CFA Program upon Glenn H. Downen, pursuant to a Stipulation and Offer of Consent for Disciplinary Action.
AIMR found that Downen violated the AIMR Code of Ethics and Standards of Professional Conduct, Standard II(B) – Professional Misconduct and Standard IV(B.6) – Prohibition against Misrepresentation [1999].
Downen enrolled to take the 2002 Level II CFA examination. Although he was enrolled for the 2002 exam, Downen failed to take the exam – he was a “no show.” Although he did not take the Level II exam, Downen created a document, purportedly from AIMR, that represented he passed the 2002 Level II CFA exam. Downen presented this document to his supervisor and also verbally represented to his supervisor that he passed the Level II CFA exam. Downen received a compensation increase for “passing” Level II of the exam. Downen’s employer subsequently investigated the matter and his employment was terminated.
Downen has consented to this sanction and the publication of this notice.
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this article doesn’t imply you need to mention you failed?
This is a case of misrepresentation where he actually said he PASSED…failing itself doesn’t need to be mentioned, but you can’t state that you passed.
 
If you never mentioned you took it at all, you don’t have to mention it.
Is there money involved where the company pays if you pass?
 
Well, the article is about misrepresentation and doesn’t answer the question.
If you were to asked, then you should tell them the truth; but if you were not asked, then you don’t have to advertise it.
 
skycfa Wrote:
——————————————————-
> Well, the article is about misrepresentation and
> doesn’t answer the question.
>
Yep. You’re not supposed to lie about your place in the program.
> If you were to asked, then you should tell them
> the truth; but if you were not asked, then you
> don’t have to advertise it.
True, although you also have the option of saying “it’s none of your business” (preferably politely) unless they are paying for your exam or making a decision to promote you based on your results.
 
This thread title is not misleading at all…
/end sarcasm
 
My employer pays, so I tell to the person who is in charge of expense reimbursements. I don’t have to tell my direct boss, if he doesn’t ask.
 
Wendy Wrote:
——————————————————-
> If it turns out that you failed the CFA exam,
> should you fess up to your employer?
>
> According to the CFAI: Yes, you should…
>
> ————————————————–
> ——————————
> CURRENT INDUSTRY-RELATED SANCTIONS
> http://www.cfainstitute.org/ethics/conduct/Pages/c
> urrent_industry_related_sanctions.aspx
>
> DOWNEN, GLENN H. (USA)
> On November 6, 2003, AIMR imposed the sanction of
> Prohibition from Participation in the CFA Program
> upon Glenn H. Downen, pursuant to a Stipulation
> and Offer of Consent for Disciplinary Action.
> AIMR found that Downen violated the AIMR Code of
> Ethics and Standards of Professional Conduct,
> Standard II(B) – Professional Misconduct and
> Standard IV(B.6) – Prohibition against
> Misrepresentation [1999].
> Downen enrolled to take the 2002 Level II CFA
> examination. Although he was enrolled for the 2002
> exam, Downen failed to take the exam – he was a
> “no show.” Although he did not take the Level II
> exam, Downen created a document, purportedly from
> AIMR, that represented he passed the 2002 Level II
> CFA exam. Downen presented this document to his
> supervisor and also verbally represented to his
> supervisor that he passed the Level II CFA exam.
> Downen received a compensation increase for
> “passing” Level II of the exam. Downen’s employer
> subsequently investigated the matter and his
> employment was terminated.
> Downen has consented to this sanction and the
> publication of this notice.
> ————————————————–
> ——————————
Ok there’s a BIG difference between not telling anyone you failed, and CREATING A FAKE DOCUMENT that says you passed. common sense here…
 
greengrape Wrote:
——————————————————-
>
> Ok there’s a BIG difference between not telling
> anyone you failed, and CREATING A FAKE DOCUMENT
> that says you passed. common sense here…
Seems like kind of a gray area to me.
 
greengrape Wrote:
——————————————————-
>
> Ok there’s a BIG difference between not telling
> anyone you failed, and CREATING A FAKE DOCUMENT
> that says you passed. common sense here…
Seems like kind of a gray area to me.
 
Honestly, how lazy are some of these guys? They get reimbursed AND a bonus for passing and he doesn’t even show, what a buffoon! Serves this guy right, I hope he gets blacklisted!
 
Honestly, how lazy are some of these guys? They get reimbursed AND a bonus for passing and he doesn’t even show, what a buffoon! Serves this guy right, I hope he gets blacklisted!
 
obviously if you dont pass and you’re employer asks you and you tell them you’d rather not say, 99.9% of the times its quite obvious you didnt pass.
if you pass an exam why in the world wouldnt you admit it?
 
If the exam makes you overqualified for your position, and there’s no way up?
 
bchadwick Wrote:
——————————————————-
> If the exam makes you overqualified for your
> position, and there’s no way up?
True, but then why are you writing it in the first place?
 
I think the only time to tell an employer about a time you failed is when they ask you during your interview, “Tell me about a failure you’ve experienced.”
 
spreads Wrote:
——————————————————-
> bchadwick Wrote:
> ————————————————–
> —–
> > If the exam makes you overqualified for your
> > position, and there’s no way up?
>
>
> True, but then why are you writing it in the first
> place?
Because you want to move up somewhere else, even if your company won’t do it for you?
(I’m not trying to be argumentative; but whenever one sees an overly general rule, it helps to think of the times it might not apply)
 
bchadwick Wrote:
——————————————————-
> (I’m not trying to be argumentative; but whenever
> one sees an overly general rule, it helps to think
> of the times it might not apply)
Good point – most people in this business are so set in their own views that they don’t bother looking for the disconfirming evidence. Just imagine how many crises could have been avoided if we’d look beyond our self-fulfilling prophecies and consider other angles.
With that said, goign back to the original poster, I think there’s always a way up – it may not be with your current employer, however!
 
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