Standard VII(B) – Reference to CFA® Institute, the CFA® Designation, and CFA® Program

Standard VII(B) – Reference to CFA Institute, the CFA Designation, and CFA Program discusses the use of CFA Institute name and logo by individuals and firms.

Compliance

Caution must be taken not to exaggerate the meaning of the CFA Institute or its programs when used by members and candidates. Factual statements concerning the benefits of CFA Program membership are permitted.  However, inflammatory statements regarding the superior performance of CFA charterholders are prohibited.  Additionally, promising certain results of CFA Program members versus non-members is not allowed.

Any statement that cannot be referenced to historical fact must be framed as an opinion by the statement-maker. This includes communication via any medium, including electronic, speech, and print.

Additionally, to refer to oneself as a CFA charterholder, it is necessary to submit a complete Professional Conduct Statement each year that recommits the industry professional to requirements of the Standards of Conduct of and CFA Institute Professional Conduct program.  Furthermore, members must be up-to-date with their CFA Institute membership dues.  Failure to comply with either of these provisions will nullify one’s membership and disallow the professional from utilizing the CFA Program membership status.

Before becoming a full member, CFA Program candidates may indicate that they have been accepted into a CFA Insitute program so long as the term candidate is clearly used.  In addition to being accepted to the CFA Institute program, a candidate must have sat for a particular CFA exam.  The use of “candidate” may be used even if an exam has been taken, but no results have been issued. The term “partial designation” or any similar term may not be used by a candidate who has passed one or more levels.  Additionally, candidates may not communicate an expected CFA Institute completion date.

CFA Institute marks are legally registered and recognized globally. However, an individual charterholder can only use the mark.  It is not to be used by a firm or organization. CFA and the term Chartered Financial Analyst are to be capitalized and used as adjectives, not nouns.

Violation

CFA Institute recognizes its designation and marks are often misused by uninformed firms.  Therefore, members and candidates should provide information related to Standard VII(B) – Reference to CFA Institute, the CFA Designation, and CFA Program to appropriate legal, compliance, and public relations contacts within their respective organizations.

Question

Which of the following is an incorrect use of the CFA designation?

I. John Doe, CFA

II. John Doe, C.F.A.

III. John Doe, Chartered Financial Analyst

IV. John Doe, CFA (2018)

A. II and III

B. II and IV

C. III and IV

Solution

The correct answer is B.

There are to be no periods between the letters “CFA.”  Additionally, a date of charter or expected charter cannot be used in conjunction with the CFA designation.