Would you terminate an employee that had a designation such as a PMP, but clearly did not have the basic knowledge behind the designation?

It appears many of us no longer have the respect we once had for standards such as a diploma, degree, or certificate. Perhaps it is because no matter what the standard of measure, people will do what they need to do, -- “cram for the exam”; and they will say what they need to say – “teams are great”; to get the job and keep it. Would you terminate an employee that had a designation such as a PMP, but clearly did not have the basic knowledge behind the designation?