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