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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 the Level I exam and posts on a public forum that the exam contained a heavy emphasis on one broad topic area and that a particular formula was not tested. According to Standard VII(A), the candidate's conduct is most likely:

The candidate most likely violated Standard VII(A). Broad topical areas and formulas tested or not tested are confidential, just as specific question details are. All aspects of an exam remain confidential until CFA Institute releases them publicly, and completing the exam does not change that.

  1. Aa violation, because broad topical areas and formulas tested or not tested are confidentialCorrect
  2. Bacceptable, because only specific question wording is confidential
  3. Cacceptable, because the post was made after the exam was completed

Explanation

The Standards list broad topical areas and formulas tested or not tested as examples of confidential information, in addition to specific details of questions. Confidentiality lasts until CFA Institute elects to release the information publicly, so finishing the exam does not end it. The second option is wrong because the prohibition goes beyond question wording.

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