CFA Exam Misconduct and Rules Violations

If you engage in any misconduct during the exam, Professional Conduct may investigate your conduct which may lead to the voiding of your exam results and suspension or termination of your candidacy in the CFA® Program.

Misconduct is any activity or conduct that compromises or attempts to compromise the reputation, integrity, validity, or security of the CFA exam. This includes conduct occurring during enrollment/registration, as well as conduct before, during, and after the administration of the CFA exam.

Misconduct includes, but is not limited to:

  • Creating a disturbance during the exam;
  • Giving or receiving assistance on the exam including looking at another candidate’s exam and/or exam answers; attempting to communicate with fellow candidates or other persons during the exam or on unscheduled breaks, and/or using books, papers, or other study aids during the exam;
  • Opening, working on, or reading the exam during a time not authorized by the testing personnel;
  • Writing or erasing after instructed to stop at the end of the timed portion of the exam;
  • Removing exam materials or notes from the testing room;
  • Taking part in an act of impersonation or other forms of cheating;
  • Failing to follow the directions of testing personnel before, during, and after the exam;
  • Using unapproved calculators, mobile phones, cameras, headsets, computers, tablets, wearable technology such as fitness tracking devices, smart watches, or any other remote communication or photographic devices, during the exam;
  • Using scratch paper including writing on the front or back of your exam admission ticket before, during, or after the exam or writing on the erasable note board before the exam;
  • Copying, reselling, distributing or misusing any CFA exam offer code(s) or any other CFA exam discount;
  • Misrepresenting information on enrollment or registration forms, or requests for accommodation or scholarship;
  • Using unauthorized CFA exam questions, with or without answers, when preparing for the exam;
  • Asking for or using unauthorized CFA exam preparatory materials that you know or have a reasonable basis to know violate CFA Institute copyright;
  • Sharing or requesting that others share with you, CFA exam content, verbally or in writing, after the administration of the exam;
  • Attempting to obtain and/or obtaining your exam results prior to the official published exam results release date;
  • Altering exam results issued by CFA Institute and/or misrepresenting pass/fail results;
  • Failing to comply with any CFA Institute testing policy, exam rule, and/or CFA Institute governing documents including the Bylaws, Code of Ethics, Standards of Professional Conduct, and Rules of Procedure as amended from time to time, including the Prometric Test Center Regulations, if applicable; and
  • Engaging in any other conduct that could be considered by CFA Institute, in its sole discretion, to compromise or attempt to compromise the reputation, integrity, validity, or security of the CFA exam or CFA Institute.

All candidates are "covered persons" under CFA Institute Bylaws (PDF) and the Rules of Procedure: Exam-Related Conduct (PDF). Therefore, any proceeding/investigation of a candidate's alleged misconduct is considered a professional conduct matter.

We want you to succeed in the CFA Program, so please read our policies carefully and learn about some of the more common accidental exam rule violations and how to avoid them (PDF).

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