Easy exp/rankp failing leves: cheating (with possible ban) or not?

[Khira]

First thing sorry for my English.
Yesterday I had a discussion with my LS fellows about players that fail on purpose some rewarding levquests (in particular "Great Hoary Toads" and "Dunesfolk for dinner") in order to repeat them after 24h without trading them back and avoiding the risk of getting other quests (yielding less rank points). We already agreed not to act this way but we still wonder if this behaviour is in any way a violation of the game rules and policies? Or in other words: players using this "cheat" can be banned?
This isn't actually a bug, nor a third party tool cheat... nothing in the game pevents you from failing a leve on purpose, and leves are in fact the common way to gain exp/rank points, it's easy even for a beginner to figure out such strategy... there is also a side effect: players doing this "cheat" lose faction points. It doesn't sound much different from the power leveling strategies on FFXI. We are confused about this and we don't want to risk a pemanent ban of our accounts because we joined cheaters while doing casual leves...
I would like to hear the opinion of the other players but I hope also for a Game Master/Moderator response because as a sack holder of my LS I need to know if I have to complain (and report) such behavior.
Thank you in advance.
Khira Nurhiyo, Divine LS (Bodhum)