) DURING PEÑA'S CONVERSATION WITH MARTINEZ, WHICH OF THE FOLLOWING STANDARDS IS LEAST LIKELY TO HAVE BEEN VIOLATED
4.) During Peña's conversation with Martinez, which of the following Standards is least likely
to have been violated?
A.
Misrepresentation
B.
Reference to the CFA Program
C.
Loyalty
Answer = B
In the conversation with Martinez, Peña did not violate Standard VII(B)—Reference to
CFA Institute, the CFA Designation, and the CFA Program because he did not call himself
a candidate but explained his participation in the program and properly stated that he
had passed Levels I and II of the CFA Program. Peña's statement regarding damaging
rumors about Northwest Securities was in violation of Standard IV(A)—Loyalty because
it could cause harm to his current employer. Peña also implied that he had completed
his university work to obtain a degree when he did not clarify his failure to receive a
degree, a violation of Standard I(C)—Misrepresentation.
“Guidance for Standards I–VII,” CFA Institute
Standards I(C), IV(A), and VII(B)