David Donnigan enrolled to take the Level II CFA examination in the current year, but he did not take the exam. Donnigan advised his employer that he passed Level II. Subsequently, he registered to take the Level II exam the next year. Which CFA Institute Standards of Professional Conduct did Donnigan least likely violate? The standard related to:
A. professional misconduct. B. duty to employer. C. referencing candidacy in the CFA Program Answer = C Because he registered to take the exam in the next year, Donnigan still qualifies to state he is a candidate in the CFA Program. He would not, however, be authorized to reference that he is a Level III candidate and, if asked, would need to specifiy that he is a Level II candidate. --------------------------------------------------------------------------------------------------------------------------------- can somebody help me about this? don’t you think that the correct answer is A ? David clearly lied that he was a “passed level 2” , i can understand for C answer if he said that he was a CFA level II Candidate.
Referencing candidacy is a broad term, i.e. ‘passed level II’ is referencing candidacy just the same as "level II candidate’ - you may be confusing the phrase ‘referencing candidacy’ as meaning he can only be a candidate. When you’re referencing candidacy, you can only refer to your factual status within the program (candidate, or passed). Anything else is a violation.
so are you saying that by lying to his employer, he violated the “misconduct” and “duty to employer”, but falsely referring “level 2 candidate” as “passed level 2” doesn’t violate the code of ethics at all because either way he was in the program?