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Computer based exam format

From the CFAI:

” We are excited to announce that CFA Institute will transition Level I of the CFA® Program to computer-based testing in 2021. This capability enables CFA Institute to keep pace with the evolution of global testing and credentialing practices and will enhance the overall candidate experience. We expect to offer a wider selection of test venues, more flexible scheduling, and expedited exam results delivery. The exam will be offered in proctored test centers around the world. 

As a natural evolution in how we design and deliver our credentialing programs, these efforts are part of a larger digital transformation for the CFA Program. For example, our one-stop digital learning platform, the Learning Ecosystem (LES), is now available for Level I candidates. The LES offers the entire Level I CFA Program curriculum, all existing study tools, and features that help candidates track and manage their learning through an online, personalized learning experience. 

For more information, visit our FAQs

Stephen Horan, CFA, CIPM
Managing Director, Credentialing “

Discuss.

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It’s simply because there’s too many people taking the exams in the Asian region for CFAI to effectively/efficiently administer an exam. You’re talking about 10,000 people trying to take an exam in a single test center - which is a logistical nightmare. I hear people say things like “Oh this means the charter is worth less” - which is the most absurd thing I’ve ever heard. How does taking an exam over a computer or filling bubbles in by hand, have anything to do with the the underlying aim of the exam? Which is to measure someone’s competency with basic financial concepts. 

If anything, I think it would make the exam harder. I would NOT want to take the exam over computer because I need to be able to write all over the thing. My exam papers basically looked like a picasso by the time I turned them in. And how do you give the candidate a platform to do that using a mouse and keyboard?

Besides, it’s only level 1. Calculate CAPM a few times and you pass anyways.

¯\_(ツ)_/¯ It be like that sometimes.

CEO10K-DAY wrote:

It’s simply because there’s too many people taking the exams in the Asian region for CFAI to effectively/efficiently administer an exam. You’re talking about 10,000 people trying to take an exam in a single test center - which is a logistical nightmare. I hear people say things like “Oh this means the charter is worth less” - which is the most absurd thing I’ve ever heard. How does taking an exam over a computer or filling bubbles in by hand, have anything to do with the the underlying aim of the exam? Which is to measure someone’s competency with basic financial concepts. 

If anything, I think it would make the exam harder. I would NOT want to take the exam over computer because I need to be able to write all over the thing. My exam papers basically looked like a picasso by the time I turned them in. And how do you give the candidate a platform to do that using a mouse and keyboard?

Besides, it’s only level 1. Calculate CAPM a few times and you pass anyways.

I agree. I just hope they won’t start administering the test multiple times a year. That, in my opinion, would lessen the value of having the Charter. 

If you're the first out the door, that's not called panicking

Well, it is going to be 4 times a year for Level 1.  Obviously the institute needs some extra cash.

Where there is a will there is a way

I think it’s a non event if they keep the rigor (which they will) and the absolute number of annual passing candidates/rates stays in line with historical averages.  I’m sure this is strictly to make it more efficient and not a money thing.  The whole paper thing and delivery back to CFAI after exams made me uneasy anyway.  

absolutezero wrote:

Well, it is going to be 4 times a year for Level 1.  Obviously the institute needs some extra cash.

The exam is already given twice a year for level 1. So, I imagine it will look something like two consecutive weekends in June, and that same thing in December. I highly highly HIGHLY doubt, that a candidate would be able to register for both weekend days in that format. 

¯\_(ツ)_/¯ It be like that sometimes.

They should spread out the curriculum and add 1-2 more parts, and make it a 4 part series.

The amount of material is ridiculous and you don’t see everything on exam day.

in the FAQ linked by the original poster

Q: What will the exam cycle look like once you transition?

“We are in the early stages of implementation, targeting 2021 for the first Level I CFA exams.  We anticipate CBT administration for the Level I CFA exam will be offered annually around the world in four one-week windows.”

elsewhere in the FAQ

Prometric is currently gong to do the testing which is to start in 2021

and they may be changing the length of the exam

———————————————– Trust God and keep your powder dry ———————————————– Southern by the grace of God

Also within the FAQs: “…the CBT environment would more closely resemble that of the daily practice of investment managers and their use of technology versus paper, pencil, and calculators.”

Sounds like spreadsheet modeling or the usage of some statistical software to me. This would be the major change of CBT in my opinion…

$$$ dominates business decisions.