Hello from Finland.
I have i7-3770K 3.5 prosessor but bios and cpu-z shows that prosessor name is i7-3770K @ 3.20 and that is weird I think.
I put here pic about cpu-z info.
This prosessor is warranty changed version from Intel and it was sealed packaged so I am not thinking that was old and when I had it from post.
The original version was ok so motherboard is ok.
Motherboard is Asus Maximus V and latest bios upgrade.
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Could be that cpu-z has a database error. Try https://downloadcenter.intel.com/download/7838/Intel-Processor-Identification-Utility-Windows-Version Download Intel® Processor Identification Utility - Windows* Version and tell us what it says.
Doc
It might be a BIOS issue, I recommend updating to the latest BIOS version.
If you think the processor is defective, you may try contacting Intel customer support at: http://www.intel.com/content/www/us/en/support/contact-support.html Contact Support
Allan.