What are the responsibilities of CFA members under Standard VII?

Question

AcadiFi · Accepted Answer

Standard VII — Responsibilities as a CFA Institute Member or CFA Candidate — has two subsections, both highly testable.

VII(A) Conduct as Participants in CFA Institute Programs: members and candidates must not engage in any conduct that compromises the reputation or integrity of CFA Institute or the CFA designation, or the integrity, validity, or security of CFA Institute programs.

Typical violations:
- Sharing exam content after testing.
- Disclosing actual or alleged exam questions online.
- Misrepresenting CFA Institute guidance or policies.
- Cheating on exams, including any unauthorized aid.
- Violating confidentiality of CFA Institute research or investigations.

VII(B) Reference to CFA Institute, the CFA Designation, and the CFA Program: members, candidates, and charterholders must not misrepresent or exaggerate the meaning or implications of membership, holding the CFA designation, or candidacy.

Correct usage:
- 'CFA' is an adjective, not a noun. 'I am a CFA charterholder' is correct; 'I am a CFA' is not.
- Candidates may say they are enrolled in the CFA Program or have passed Level I/II, but cannot claim partial credentials.
- You cannot imply the CFA designation guarantees performance or superior investment skill.
- You cannot use 'CFA' as part of a firm name without explicit CFA Institute permission.

Example: a candidate posts on LinkedIn 'Level III CFA' before passing Level III — that's a misrepresentation under VII(B). Writing 'CFA Level II candidate, sitting for Level III in May' is acceptable.

On the exam, VII(A) covers exam conduct and program integrity; VII(B) covers how you use the credential in marketing, resumes, and communications. Both require strict compliance — violations are among the most visible and most quickly sanctioned.

What are the responsibilities of CFA members under Standard VII?

Master Level I with our CFA Course

Related Questions

Practice Questions