the box containing your answer sheets left Ghana, it was not returned to CFA Institute by the shipping agent. We do not have your answer sheets and cannot grade your December 2010 CFA exam at this time

CFA Institute ID: Dear All Candidates in Africa, I must inform you of a very unfortunate situation. We have completed reconciliation of all exam materials from the December 2010 Level I CFA exam administration in Accra, Ghana and have determined that although the box containing your answer sheets left Ghana, it was not returned to CFA Institute by the shipping agent. We do not have your answer sheets and cannot grade your December 2010 CFA exam at this time. I can only imagine how upsetting this news must be to you. We know the time and effort you put into this examination process, and are determined to support your investment in time as best we can. As a result, we are taking the following measures: * CFA Institute will provide you with a full refund of your December 2010 CFA exam fees and any travel costs you incurred to attend the December 2010 exam in Accra, Ghana. Your CFA exam fees will be automatically processed and reimbursed within approximately three business days of this communication. CLICK HERE to access a reimbursement form for your travel expenses. Please print and complete the form, and submit it by fax or email with documentation (receipts) of your travel expenses. We will mail your refund check by courier within 7 business days after receiving your reimbursement form. * We will also waive the CFA Program fees of your next CFA exam registration. This waiver can be applied to registration for the June 2011 exam or December 2011 exam. We will contact you on 26 January 2011 with instructions for online registration. * In addition, we would like to offer you the opportunity to retake the Level I CFA examination in Accra, Ghana on 5 February 2011. Please make your selection by 25 January 2011 (there will be no registration fee to sit for this re-test). If you choose to re-test we will contact you with additional information within two business days. Please click here to make your selection: www.magnetmail.net/forms/display_form.cfm Please note that, should we eventually recover your December 2010 answer sheets, a passing score on either the December 2010 exam or the 5 February 2011 re-test will allow you to become a Level II candidate. You have my deepest apologies that this unforeseen event has occurred. Please do not hesitate to contact us at info@cfainstitute.org or +1-434-951-5499 if you have any questions. Sincerely, John Rogers, CFA President & CEO CFA Institute

Wtf. If this real?

this is real , but CFA is keeping it very quiet

dont see any press release reg this on CFA website currently!!

This is BS, Chad should ban this fake a$$

I call bullshit. This doesn’t happen with courier companies. If it did, they would not have waited this long to inform candidates.

Bloomberg are reporting that this is true - someone at CFA confirmed the email was accurate. http://www.businessweek.com/news/2011-01-19/cfa-institute-says-it-lost-exam-answers-of-africa-candidates.html

and another, longer, bloomberg story… http://www.bloomberg.com/news/2011-01-20/cfa-institute-says-it-lost-exam-answer-sheets-of-some-africa-candidates.html

thats ridiculous. I cant imagine the stress those candidates are going through - must be terrible.

SCANDAL Those who take it again in Feb - they would grade their exams in 6 weeks? how could they catch with June level 2 if they pass? This is really a shame! and HOW did it take them ALL this time to announce this? it has been more than a month and a half now!

I am shocked !!!, They should declare all the candidates pass from that region. Considering the efforts CFA Institute takes as to putting the discipline in Candidates, they should themeselves show the same level of discipline amongst themselves. Another option as a special case should be to allow the L2 exam to be conducted in Dec for that region.

vgmalu Wrote: ------------------------------------------------------- > I am shocked !!!, > > They should declare all the candidates pass from > that region. That doesn’t sounds fair to other candidates and charterholders at all.

Anyone from Accra, Ghana Please tell us your thoughts

What crappy service were they using? Why take so long to make this accouncement?

My thots exactly, because it seems CFAI messed up and the only recourse is to push it back on Ghana Candidates. This is an emotionally stressful time for all of us. So many questions left unanswered??

it is absurd. I mean, after you put in so much efforts, go through sleepless nights and no social life for so many months to find out that all of it was in vain?

WTF Wrote: ------------------------------------------------------- > vgmalu Wrote: > -------------------------------------------------- > ----- > > I am shocked !!!, > > > > They should declare all the candidates pass > from > > that region. > > > > > > That doesn’t sounds fair to other candidates and > charterholders at all. What happened isnt fair too - how is it fair that candidates who register for L2 in June by 26th of Jan and those who have to wait till results are out after Feb exam will sit for same exam on same day? The best practice here is to postpone their L2 exam too but once they do so, the same theory applies again and it means they will have to postpone L3 and the cycle wont stop

I think candidates in neighboring countries all need to fly to Ghana for the exam…

The only way I see it fair: Reimburse all L1 fees including travel, allow candidates to retake L1 in June, hold a special L2 exam in December exempt of all exam fees as well. The CFAI should recognize the opportunity cost of this situation better than any organization in the world, yet they don’t have a clue.

Its a tough situation. You cant entirely blame cfai for a box being stolen off the delivery truck, say, or a fire in the storage warehouse or whatever happened. At the same time, is there really an excuse for the cfai to completely ignore technology in the digital age, and have physical answer sheets shipped all over the world, graded by scan trons as if this is the 1950’s?