A day after posting my thoughts on the origins of James Bond's 'golden K', which he won as a teenager at the Hannes Schneider ski school (OHMSS, Chapter 12), I came across Arnold Lunn's book, The Story of Ski-ing (Eyre and Spottiswood, 1952). In it, I found this:
'Miss B E M Carroll was a consistently successful performer and, though she never won the A-K [Arlberg-Kandahar Challenge Cup], she is one of the three British racers who hold the Gold A-K badge, awarded to those who have won the silver A-K three times.' (p. 97)
So that confirms it. James Bond was a good enough skier to come second in the Arlberg-Kandahar Challenge Cup three times, and as a reward, gained his gold K badge, or rather his A-K badge.