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

Reese has been a CFA charterholder since 2000. A friend is considering enrolling in the CFA Program. Reese says she learned a great deal as a candidate and that many firms require their investment professionals to hold the CFA designation. Her comments are most likely:

Reese's comments comply with Standard VII(B). She refers to facts: she gained knowledge from the program and many firms require the designation. She does not promise or imply superior performance, and recommending the program is an acceptable statement of opinion.

  1. Aa violation, because she implies superior performance
  2. Bin compliance, because her statements refer to factsCorrect
  3. Ca violation, because she recommends the program to others

Explanation

Standard VII(B) is not intended to prohibit factual statements about the benefits of earning the designation. Reese says she gained knowledge and that many firms require the designation, which are facts. She makes no claim of superior performance, so option A is wrong, and recommending the program is a personal opinion, so option C is wrong.

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