Candidates must not exagerrate the meaning of the CFA Designation. Is saying “the CFA designation is the highest designation in the industry” a violation of this Standard? Thank u
Nope. That is not a violation to the code. However, saying that you are better than other professionals just because you passed the exams of the best designation in the industry is, indeed, a violation to the code.
I would kindly disagree here. It sounds like an exaggeration unless there is an official documented industry-wide recognition of CFA as the highest designation.
I’m going to disagree as well. Despite what we all think, there is nothing that says or proves that the CFA designation is the highest designation so that would be an exaggeration and a violation.
If you state that Harvard University is the best place to get your 2-year MBA, it is not a violation of any ethics code. However, it is a violation to a code if you state that due you graduated from the Harvard’s 2-year MBA program you are a superior professional or better than any other 2-year MBA of any other university in the world.
Now talk about the CFA designation. As far as I know, there is no career, program or desgination that prepares you to be a succesful investor. I would say that you need years of experience and study many things to become one. The CFA program is one of the most respected desginations internationally, people say it is the most known, with the best pay-off, rigurous and extensive program. So, if I state that is the best designation in the industry, well it might be, maybe not, it is my opinion, so not a violation to the code. I repeat again, I can’t say I’m a better investor/professional than a non-CFA professional, it is a violation to the code.
I think it is a violation.
I think it is a violation too. It is exaggerating to say that CFA is the highest designation in the industry.
Not necessarily. Referring to the Charter as the highest designation or credential isn’t a violation as long as you aren’t using that statement to guarantee superior performance or returns for your clients.
Violation if you fail to separate opinion from fact in your statement.
Unquestionably a violation.
Is it a violation if you say the CFA designation is the “gold standard”?
Clearly yes.
Quite seriously, if you are asked a question that requires an answer along these lines, you would be allowed to say that the CFA program comprises a series of very challenging examinations covering a broad range of material relevant to the investment industry. Being awarded the charter indicates that you have successfully passed the three examinations and have also met the required level of relevant work experience.
Saying that it is the ‘gold standard’ once again suggests that a level of superiority comes with being a charterholder.
Would it be a violation if you said CFA designation is the industry standard?
A similar question or two has come up in prior CFAI Mock exams, as well as earlier threads on this site - it isn’t a violation. It’s a short Google away…
I think so. How do you proof your statement is a fact and not just your opinion?
wow- he is right. i am very surprised that CFAI lets us say this!
It is a violation to refer to the charter as the golden standard or the industry standard, read the comment of Studyguy18 for the appropriate response.