Edward Witten works for Princeton Investments and has registered to take Level III exam next year. He had taken the Level III exam 3 years ago but was not successful. In his firm's promotional material, he has stated that he is a candidate in the CFA program and has successfully passed Level II. Edward has:
- violated Standard II (A) - Use of Professional Designation. He cannot claim to be in the CFA program without having completed Level III exam.
- violated Standard II (A) - Use of Professional Designation. He cannot claim to be in the CFA program since he failed the Level III exam.
- not violated any standards.
- violated Standard II (A) - Use of Professional Designation. He cannot claim to be CFA - Level II.
Answer(s): C
Explanation:
Standard II (A) - Use of Professional Designation, states that a person must be registered to take the next higher level of the exam to be a "candidate" in the CFA program. That Edward failed on his last attempt does not prevent him from claiming that he's a candidate, as long as he has registered for the exam.
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