QUESTIONS 1 THROUGH 18 RELATE TO ETHICAL AND PROFESSIONAL STANDARDS.
18. On a flight to Europe, Romy Haas, CFA, strikes up a conversation with a fellow passenger,
Vincent Trujillo. When Trujillo learns Haas is in the investment profession, he asks about the CFA
designation. Haas tells him the following about the CFA designation:
Statement 1: Individuals who have completed the CFA Program have the right to use the CFA
designation.
Statement 2: The CFA designation is globally recognized which is why I use it as part of my
firm’s name
Statement 3: CFA charterholders must satisfy membership requirements to continue using the
designation.
In explaining the use of the CFA designation, Haas least likely violated the CFA Institute
Standards of Professional Conduct concerning which of the following statements?
A. Statement 1
B. Statement 2
C. Statement 3