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Basic Question 6 of 7
Grover McGuire has just passed the Level II CFA exam. He is excited and helps his boss write an announcement to the firm's clients who deal with Grover. The memo states that Grover is a Level II CFA and that such an honor is bestowed upon the brightest and smartest professionals in the financial services field. He is now a Level III candidate as a result of passing the difficult exam.
B. Since Grover is not a candidate, the Code and Standards do not apply to him. Besides, since Grover's boss is writing the memo, Grover can deny any responsibility for the memo.
C. Since Grover's boss is writing the memo, Grover can deny any responsibility for the memo.
D. Standard VII, which requires that the CFA designation be used appropriately, has been violated.
A. No standard has been violated since Grover has not claimed charterholder status.
B. Since Grover is not a candidate, the Code and Standards do not apply to him. Besides, since Grover's boss is writing the memo, Grover can deny any responsibility for the memo.
C. Since Grover's boss is writing the memo, Grover can deny any responsibility for the memo.
D. Standard VII, which requires that the CFA designation be used appropriately, has been violated.
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Learning Outcome Statements
evaluate practices, policies, and conduct relative to the CFA Institute Code of Ethics and Standards of Professional Conduct;
explain how the practices, policies, and conduct do or do not violate the CFA Institute Code of Ethics and Standards of Professional Conduct.
CFA® 2025 Level II Curriculum, Volume 6, Module 45.