QUESTIONS 1 THROUGH 18 RELATE TO ETHICAL AND PROFESSIONAL STANDARDS.

3.

Abdul Naib, CFA, was recently asked by his employer to submit an updated document providing

the history of his employment and qualifications. The existing document on file was submitted

when he was hired five years ago. His employer notices the updated version shows Naib

obtained his Master of Business Administration (MBA) degree two years ago, whereas the

earlier version indicated he had already obtained his MBA. Because the position Naib was hired

for had a minimum qualification of an MBA, Naib is asked to explain the discrepancy. He justifies

his actions by stating: “I knew you wouldn’t hire me if I didn’t have an MBA degree, but I already

had my CFA designation. Knowing you required an MBA, I went back to school on a part-time

basis after I was hired to obtain it. I graduated at the top of my class, but this shouldn’t come as

any surprise, as you have seen evidence I passed all of my CFA exams on the first attempt.” Did

Naib most likely violate the CFA Institute Standards of Professional Conduct?

A. No

B. Yes, with regard to Misconduct

C. Yes, with regard to Reference to the CFA Designation