What are the specific responsibilities of CFA members and candidates under Standard VII?

Standard VII protects the integrity of the CFA designation itself. It has two sub-standards:

Standard VII(A) — Conduct as Participants in CFA Institute Programs:

You must not engage in conduct that compromises the reputation or integrity of CFA Institute, the CFA designation, or the CFA exam.

Specifically prohibited:

• Cheating on the CFA exam
• Sharing specific exam questions or answers (even saying "there was a question about derivatives" is risky)
• Misrepresenting your exam results or candidate status
• Revealing confidential portions of the exam process

What you CAN say about the exam:

• "I sat for the CFA Level I exam"
• "The exam was challenging"
• "I passed/failed the exam"

What you CANNOT say:

• "There were 5 questions on WACC"
• "The afternoon session focused on equity valuation"
• "I remember this specific question about..."

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

Correct usage:

• "Yuki Tanaka, CFA" (used as an adjective/post-nominal)
• "I am a CFA charterholder"
• "I am a Level III candidate in the CFA Program"

Incorrect usage:

• "Yuki Tanaka, C.F.A." (no periods)
• "I am a CFA" (can't use as a noun)
• "I am a CFA Level III" (incomplete reference)
• "I am almost a CFA charterholder" (you either are or aren't)
• "I passed all three CFA levels on the first attempt" (implying superiority)

For candidates:

• You may state you are a candidate ONLY if registered for the next scheduled exam or awaiting results
• Once you fail or withdraw, you cannot call yourself a candidate

Example violation:

Gareth's business card reads: "Gareth Palmer, CFA Level II Passed." This violates the standard because partial exam completion cannot be presented as a qualification. He should write: "Gareth Palmer, CFA Level III Candidate."

Exam tip: The exam tests precise usage of the CFA designation. Memorize the correct formats and common violations. Any answer that uses "CFA" as a noun ("I am a CFA") is always wrong.

Explore our CFA Level I Ethics course for comprehensive standards coverage.