i didn’t even notice the words were switched around til you mentioned it. lol. it really is like after the test when everyone starts remembering or thinking they are remembering small details about the questions on the test. i remember there was the longest thread ever on the wording of a real option question or something in corp. finance last year.
I think the word order is key. “B” strikes me as a violation because it seems like it uses “CFA” as a noun, not an adjective.
plyon Wrote: ------------------------------------------------------- > I think the word order is key. “B” strikes me as > a violation because it seems like it uses “CFA” as > a noun, not an adjective. Nope, it uses “candidate” as a noun, which is fine. “CFA Level II” is describing what kind of candidate. A is wrong, because “X” is not a member yet, since he/she has just passed Level I, he/she is a candidate. Recall how all of the Ethics LOS’s are phrased in this manner: “Members and CANDIDATES must …” do such-and such. You can’t claim full membership until you go through all exams and your work exp is verified and you get your charter. So I would pick “B”.
my only nit-pick with A is that it doesn’t specify the type of member; affiliate, regular or charterholder. When you pass level 1 you can be an affiliate member. And grammatically “her exam” looks weird I’d have said “the exam”. Otherwise, A and B both look ok. Should the question be “is a violation” instead of “is not a violation”?
Dwight Wrote: ------------------------------------------------------- > plyon Wrote: > -------------------------------------------------- > ----- > > I think the word order is key. “B” strikes me > as > > a violation because it seems like it uses “CFA” > as > > a noun, not an adjective. > > > Nope, it uses “candidate” as a noun, which is > fine. “CFA Level II” is describing what kind of > candidate. > > A is wrong, because “X” is not a member yet, since > he/she has just passed Level I, he/she is a > candidate. Recall how all of the Ethics LOS’s are > phrased in this manner: “Members and CANDIDATES > must …” do such-and such. You can’t claim > full membership until you go through all exams and > your work exp is verified and you get your > charter. > > So I would pick “B”. I would pick A, because you can be a CFA member without passing the CFA exam, I think it has been like that since AIMR. But I do think B is INCORRECT because a “X is a CFA Level II Candidate” is different than “X is a Level II CFA Candidate”. Dude this is different. But if CFAI goes on that details to trick ppl on a question like that. They Can go to hell.
ilkandi Wrote: ------------------------------------------------------- > my only nit-pick with A is that it doesn’t specify > the type of member; affiliate, regular or > charterholder. When you pass level 1 you can be an > affiliate member. > And grammatically “her exam” looks weird I’d have > said “the exam”. Otherwise, A and B both look > ok. > Should the question be “is a violation” instead of > “is not a violation”? I do not think you need to pass any to become a member because they honorary member. Someone can be a CFAI member without a CFAI Chaterholder. I think. Am I missing something here on that. Please advice.
Thanks for all the contributions I was really pissed when I had this one wrong, and more when reading the explanation: Your answer: B was incorrect. The correct answer was A According to Standards VII(B), Reference to CFA Institute, the CFA Designation, and the CFA Program, a member can reference her CFA Institute membership only in a dignified and judicious manner. Candidates who have passed one or more levels of the exam may state so, but they may not imply that they have achieved superior results. To state that a member is a candidate, the member must be registered for the next scheduled exam. The designation “CFA” should only be used as an adjective and never as a noun. As read above, CFA states in the SOPH that you can write: “I am a 2003 Level III CFA candidate.” So my conclusions are: - question is pretty tricky - the only order that would be appropriate in a statement would be: “A” + “YEAR” + “LEVEL” + “CFA CANDIDATE”, in the question’s statement the year was missing and the order was not right - Ethics at LIII is a pretty vicious beast PS: tibwa I agree with you, no need to pass any level to be a member of CFAI, as long as you fill annual PCS and pay your dues
nicolargol Wrote: ------------------------------------------------------- > Thanks for all the contributions > > I was really pissed when I had this one wrong, and > more when reading the explanation: > > Your answer: B was incorrect. The correct answer > was A > > According to Standards VII(B), Reference to CFA > Institute, the CFA Designation, and the CFA > Program, a member can reference her CFA Institute > membership only in a dignified and judicious > manner. Candidates who have passed one or more > levels of the exam may state so, but they may not > imply that they have achieved superior results. To > state that a member is a candidate, the member > must be registered for the next scheduled exam. > The designation “CFA” should only be used as an > adjective and never as a noun. > > As read above, CFA states in the SOPH that you can > write: “I am a 2003 Level III CFA candidate.” > > So my conclusions are: > > - question is pretty tricky > > - the only order that would be appropriate in a > statement would be: > “A” + “YEAR” + “LEVEL” + “CFA CANDIDATE”, in the > question’s statement the year was missing and the > order was not right > > - Ethics at LIII is a pretty vicious beast > > PS: tibwa I agree with you, no need to pass any > level to be a member of CFAI, as long as you fill > annual PCS and pay your dues I would pick A by pure instinct but I would have still piss at them to see a question wordy like that in the exam. But they have done that before, they suck. “B” is bad because you cannot be a “X is a CFA Level II Candidate” but you can be “X is a Level II CFA Candidate” “C” is bad because of this part of the answer "would become a CFA upon completion… " because you can only be a “would become a CFA Chaterholer upon completion…”. the word CFA is a noun is the answer C Not an adjective as require. They better let me pass this thing this year. I hate CFAI!!!
B would only be a violation if it was Joe Shmoe, CFA Level II candidate Stating you are level II candidate is not a violation.
oskigo Wrote: ------------------------------------------------------- > B would only be a violation if it was Joe Shmoe, > CFA Level II candidate > > Stating you are level II candidate is not a > violation. Fine with me but i would still choose A and guess what? you would have missed it and CFAI would have not care 
I am not quiet sure you see what the modifier does to the verb when you change “Level II CFA candidate” to “CFA level II candidate”.
is this from schweser?
yes, question ID number 92149 from QBank
i don’t think the order matters. the below was left out in the orginal question. you can’t call yourself a cfa level 2 or level 2 cfa candidate IF YOU HAVE NOT ENROLLED. Carla Tonis is an investment analyst at Target Investments, Inc (Target), an investment management firm that helps recent college graduates to start investing in the stock market. Tonis wants to earn the CFA designation and has passed the Level I CFA exam. She plans to take the Level II exam a year from now but has not enrolled in the next scheduled exam. She is also a member of CFA Institute.
I am so dumb… Sorry all, next time I will read better the vignette. Now I am pissed at myself. Thread can be deleted
don’t worry about it. i’ve done worse. it’s too early to be jamming on qbank anyway. your ambition intimidates me.
I am actually torn between several strategies: - I started for LII aproximately around the same period last year, took a break in March for travel, and arrived at the exam with about 400 hours of preparation, which was enough but did not enable me to pass with flying colors. So I was thinking about doing the same for LIII given that the material looks a bit slimmer in weight - on the other hand, if I put enough effort and motivation into it, and work as hard as I can until June, it can be the last time IN MY LIFE I open a CFAI related book to study (off course if I eventually become a charterholder I will read frequently CFAI publications to keep myself informed…) I guess there is no correct strategy, it all depends on your personal situation and background…but I don’t want to see FAIL on my screen in August when I succeed in connecting to the CFAI website
My problem with “A” is that she “plans on taking her Level II exam next year”. I always thought you weren’t allowed to make a statement like this. You could only say you passed your Level (X) exam in (YEAR). Anyone have a reference showing this is allowed?
sorry, missed cfasf1’s response before posting.
Darn… this makes the question too easy. I was all set to tell you why CFA Level II Candidate uses “CFA” as a noun.
So… I STILL don’t think we decided whether or not it’s ok to call yourself a “CFA Level II Candidate” if you are enrolled for the exam (vs. “2008 LII CFA Candidate”). ?