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CFA Level I · CFA Level I Exam · Guidance for Standard VII: Responsibilities as a CFA Institute Member or CFA Candidate

A candidate wishes to describe the CFA Program in marketing materials. Which statement is most likely consistent with Standard VII(B)?

The opinion that the exams are among the most rigorous is consistent with Standard VII(B). Members and candidates may mention exam rigor and make relative-merit claims if framed as opinion. Claiming partial designation or guaranteed superior returns is prohibited.

  1. A"In my opinion, the CFA exams are among the most rigorous in the industry."Correct
  2. B"Passing Level II makes me a partial charterholder."
  3. C"CFA candidates are guaranteed to deliver better returns than non-candidates."

Explanation

Claims about the relative merits of the exams are allowed if stated as the speaker's opinion, and mentioning the rigor of the exams is appropriate. The other statements imply a partial designation or promise superior performance.

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