{"id":40989,"date":"2025-02-12T05:16:03","date_gmt":"2025-02-12T05:16:03","guid":{"rendered":"https:\/\/analystprep.com\/study-notes\/?p=40989"},"modified":"2025-02-12T05:16:03","modified_gmt":"2025-02-12T05:16:03","slug":"standard-vii-responsibilities-as-a-cfa-institute-member-or-cfa-candidate-2","status":"publish","type":"post","link":"https:\/\/analystprep.com\/study-notes\/cfa-level-iii\/standard-vii-responsibilities-as-a-cfa-institute-member-or-cfa-candidate-2\/","title":{"rendered":"Standard VII \u2013 Responsibilities as a CFA Institute Member or CFA Candidate"},"content":{"rendered":"

Standard VII(A) – Conduct as participants in CFA Institute programs<\/h3>\n<\/p>\n

Members and Candidates must not participate in any activity that jeopardizes CFA Institute’s or the CFA designation’s reputation, integrity, or security of CFA Institute programs.<\/p>\n

\n

Application 1: Writing After Exam Period End<\/strong><\/h4>\n

Fiona King, a CFA Level III candidate, took a five-minute bathroom break during the morning session of the Level III exam. The proctor announces that it is time to stop writing. King attempts to make further corrections on her exam script after the proctor had called time. She ignored repeated requests from the proctor to stop writing. She finally adheres to the proctor’s instructions after making minor corrections. When asked for her reasoning behind violating exam procedures, she states that she\u00a0assumed<\/em>\u00a0that she had more time than other candidates because she had taken a bathroom break.<\/p>\n

Would King’s actions constitute a violation of Standard VII(A) \u2013 Conduct as Participants in CFA Institute Programs?<\/p>\n

    \n
  1. Yes, because she continues to make minor corrections after the exam has ended.<\/li>\n
  2. No, because she is only making minor corrections to her exam script.<\/li>\n
  3. No, because she assumed she had extra time after taking a five-minute bathroom break.<\/li>\n<\/ol>\n

    Solution<\/strong><\/p>\n

    The correct answer is A<\/strong>.<\/p>\n

    By continuing to make changes to her exam script (minor or significant) after time was called, King has violated Standard VII(A) \u2013 Conduct as Participants in CFA Institute Programs. Additionally, she has violated the CFA Program’s rules and regulations by ignoring the proctor’s instructions. Candidates are permitted to take supervised bathroom breaks; however, these breaks will count against the time allocated for the exam.<\/p>\n

    Application 2: Sharing Exam Content<\/strong><\/h4>\n

    Douglas Wright, an Australian Level I candidate, just completed the CFA Level I examination. Immediately after the exam, he posts a series of tweets that highlight his exam experience.<\/p>\n

    He posts the following:<\/p>\n

    “The CFA Institute is a joke! The Level I exam was truly awful, the examiners expected too much. It was far too difficult. I was extremely prepared for the financial reporting and analysis section and was disappointed that there weren’t as many questions as expected. I counted 25 in total; this is far different from the 48 I expected. I was also surprised to see no derivatives questions in the afternoon session. I think I did enough to pass…”<\/p>\n

    How has Wright\u00a0most likely\u00a0violated Standard VII(A) \u2013 Conduct as Participants in CFA Institute Programs?<\/p>\n

      \n
    1. By expressing his opinion about the difficulty of the Level I exam.<\/li>\n
    2. By revealing details about parts of the Candidate Book of Knowledge (CBOK) that were tested or omitted in the Level I exam.<\/li>\n
    3. By expressing a negative opinion about the CFA Institute and examiners.<\/li>\n<\/ol>\n

      Solution<\/strong><\/p>\n

      The correct answer is B<\/strong>.<\/p>\n

      King has violated Standard VII(A) \u2013 Conduct as Participants in CFA Institute Programs by sharing parts of the CBOK that weren’t covered in the Level I exam. King is allowed to express his opinions about the CFA Institute and its examiners, the difficulty of the exam, and performance without violating Standard VII(A) \u2013 Conduct as Participants in CFA Institute Programs. By revealing what was or what wasn’t tested, Wright may have inadvertently assisted other candidates in different time zones, thereby undermining the integrity of the exam.<\/p>\n<\/blockquote>\n

      LOS 3(a): Evaluate practices, policies, and conduct relative to the CFA Institute Code of Ethics and Standards of Professional Conduct.<\/p>\n

      LOS 3(b): Explain how the practices, policies, or conduct does or does not violate the CFA Institute Code of Ethics and Standards of Professional Conduct.<\/p>\n","protected":false},"excerpt":{"rendered":"

      Standard VII(A) – Conduct as participants in CFA Institute programs Members and Candidates must not participate in any activity that jeopardizes CFA Institute’s or the CFA designation’s reputation, integrity, or security of CFA Institute programs. Application 1: Writing After Exam…<\/p>\n","protected":false},"author":17,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[571],"tags":[],"class_list":["post-40989","post","type-post","status-publish","format-standard","hentry","category-cfa-level-iii","blog-post","no-post-thumbnail","animate"],"acf":[],"yoast_head":"\nStandard VII \u2013 Responsibilities as a CFA Institute Member or CFA Candidate - CFA, FRM, and Actuarial Exams Study Notes<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-iii\/standard-vii-responsibilities-as-a-cfa-institute-member-or-cfa-candidate-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Standard VII \u2013 Responsibilities as a CFA Institute Member or CFA Candidate - CFA, FRM, and Actuarial Exams Study Notes\" \/>\n<meta property=\"og:description\" content=\"Standard VII(A) – Conduct as participants in CFA Institute programs Members and Candidates must not participate in any activity that jeopardizes CFA Institute’s or the CFA designation’s reputation, integrity, or security of CFA Institute programs. 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