1.) CleanTech's advertising is least likely in violation of the CFA Institute Standards of
Professional Conduct with respect to:
A. use of the CFA designation.
B. expected performance results.
C. managers' volunteer activities.
Answer = C
"Guidance for Standards I–VII," CFA Institute
Standard VII(A): Conduct as Members and Candidates in the CFA Program; Standard
VII(B): Reference to CFA Institute, the CFA Designation, and the CFA Program
Disclosure of the managers' involvement with CFA Institute is not a violation of Standard
VII(A): Conduct as Members and Candidates in the CFA Program, because it does not
reveal any confidential information. But the CFA designation must always be used as an
adjective. In this situation, the designation has not been used as an adjective, thus the
statement is in violation of Standard VII(B): Reference to CFA Institute, the CFA
Designation, and the CFA Program (i.e.,the statement should read "the entire research
team is made up of CFA charterholders," rather than "they are all CFA's"). Members
must not exaggerate the meaning or implications of membership in CFA Institute or
holding the CFA designation, which Tang does, violating Standard VII(B).
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