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

Raj Patel, a CFA candidate who has just sat the Level III exam and is awaiting results, is preparing a marketing brochure. Which statement is most likely a violation of Standard VII(B)?

The statement that Raj expects to earn the charter by year-end violates Standard VII(B). Candidates must not cite an expected charter completion date, because final award depends on meeting requirements and Board of Governors approval. Stating candidacy and the exams' rigor is appropriate.

  1. A"Raj is a candidate in the CFA Program."
  2. B"The CFA exams are rigorous and require substantial preparation."
  3. C"Raj expects to earn his CFA charter by the end of this year."Correct

Explanation

Candidates must not cite an expected completion date for earning the charter, since the award is subject to meeting requirements and approval by the Board of Governors. Mentioning candidacy and the rigor of the exams is acceptable.

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