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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 CFA candidate finishes an exam and posts on a public forum that a particular formula was not tested. Under Standard VII(A), this action is most likely:

The post violates Standard VII(A). Broad topical areas and formulas tested or not tested on an exam are confidential, so saying a formula was not tested discloses protected information. Expressing a personal opinion does not permit a candidate to reveal exam content.

  1. Apermitted, because formulas are not exam questions
  2. Ba violation, because broad topical areas and formulas tested or not tested are confidentialCorrect
  3. Cpermitted, because the candidate is expressing a personal opinion

Explanation

The guidance lists broad topical areas and formulas tested or not tested as confidential information that cannot be disclosed. Stating that a formula was not tested discloses such information. The personal-opinion exception does not allow disclosure of exam content.

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