Ethics - Standard VII - Responsibilities as a CFAI Member or CFA Candidate

Final one.

Start - 5:45 pm

Standard VII - Responsibilities as a CFAI Member or CFA Candidate

VII(A) Conduct as Members and Candidates in the CFA Program
MCs must not engage in any conduct that compromises the reputation or integrity of the CFAI or CFA designation or the integrity, validity, or security of the CFA examinations.

Confidential program information

• All aspects of exam are confidential until CFAI releases them publicly
• CFA regularly polices blogs, forums and social networks for information considered confidential
• Do not talk about test questions, broad topics, etc.

Additional CFA program restrictions

• Must follow candidate pledge
• Calculator policy

Expressing an opinion

• VII(A) does not cover expressing an opinion regarding CFAI or CFA program

Notes from examples

• OK after a test to talk about difficulty or how well you think you did, but do not reveal questions or topics covered or not covered
• Don't try to solve the hardest questions with others after the exam
• Don't disclose any portion of the exam questions
• Don't talk to people in different time zones about the same test (this must happen a lot tho...)

VII(B) Reference to CFA Institute, the CFA Designation, and the CFA Program

When referring to the CFAI, CFAI membership, the CFA designation, or candidacy in the CFA Program, MCs must not misrepresent or exaggerate the meaning or implications of membership in the CFAI, holding the CFA designation, or candidacy in the CFA Program. 

• Cannot say that CFA can allow you to expect superior performance
• OK to talk about the thoroughness and commitment to ethics
• State as the opinion of the speaker
• Once accepted as a CFA member, need to remit annually a completed Professional Conduct Statement and pay applicable membership dues

Using CFA designation

• If inactive, can state that you were previously a member until reactivated
• Candidate - someone who has registered for a specific exam or has taken one and is awaiting results
• Cannot cite an 'expected completion' date
• If you pass each level in consecutive years, can state so because this is a statement of fact
• BUT you cannot claim superior ability because of this
• Do not refer to yourself as 'a CFA' or a 'Chartered Financial Analyst.'
• CFA and Chartered Financial Analyst are always used as adjectives

End of Standard VII.

6:15 pm.

Approximately 0.5 hours.