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CFA Level I · CFA Level I Exam · Guidance for Standard I: Professionalism

An analyst writes in a client brochure that she "holds the CFA designation" although she is only a Level II candidate who has passed one exam. Her statement most likely violates Standard I(C) Misrepresentation because it:

The statement most likely violates Standard I(C) because it misrepresents her qualifications or credentials. Members and candidates must not misrepresent their qualifications, and claiming a designation she has not earned is an untrue statement about her professional credentials, regardless of other duties.

  1. Ais a misstatement of her qualifications or credentialsCorrect
  2. Bis a failure to keep client information confidential
  3. Cis a breach of the duty to disclose a conflict of interest

Explanation

Standard I(C) prohibits misrepresenting any aspect of professional activities, including qualifications or credentials. Claiming a designation not earned is an untrue statement about credentials. The other options concern different standards and do not describe the issue.

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