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

After sitting the exam, a candidate tells her study group which broad topic areas received heavy coverage and which formulas she did not see on the exam. Her actions are most likely:

She most likely violated Standard VII(A). Broad topical areas and formulas tested or not tested on an exam are confidential, just like specific questions. Sharing them with other candidates, even in a study group, compromises exam integrity, although discussing nonconfidential material in study groups is allowed.

  1. Apermitted, because she disclosed no specific exam questions
  2. Ba violation of Standard VII(A), because topics and formulas tested or not tested are confidentialCorrect
  3. Cpermitted, because the study group members are all registered candidates

Explanation

Confidential information includes specific question details and also broad topical areas and formulas tested or not tested. Sharing it with other candidates is still disclosure of confidential material. Avoiding specific questions does not make the disclosure acceptable.

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