It will be 10+ weeks between the time we took the exam and when we actually receive the results. I know everyone would agree that seems excessive for a multiple choice test even given the extensive process. Maybe the CFAI feels that after 10 weeks the emotions of taking this exam will have died down and there would be less negative reaction from those that don’t make it. Or are there other reasons…
yeh … apparently they get together and review the questions, and whether or not to throw some out. they get subject matter experts to answer the questions to see how they did, then they look at the range of marks that ppl got and decide the MPS and stuff. there’s a lot about it written on their site.
Yeah I read it. But I also read something last year where they did most of that work in 1 week. That was specifically referencing the L3 Essays, but I would imagine that is one of the more time consuming processes.
Fancy something to give you an optimism boost leading up to these 10weeks? Just browing the L3 boards and found this: "Re: Fail or Pass new Posted by: jimmyswo (IP Logged) [hide posts from this user] Date: June 8, 2009 08:47AM baca dont let this forum freak you out. I posted this already but last year on level 2 i was convinced that I failed - 95% sure after reading everyone’s posts. I passed by a wide margin. The momo’s who were telling everyone they were right are still on the level 2 forum. trust me on this one. go with you gut after the exam. this forum counts for nothing " From this post: http://www.analystforum.com/phorums/read.php?13,1008148
Very nice, thanks I needed that.
Have a look at the CFAI website there is a document detailing exactly the grading procedure. Ten weeks is reasonable consider the following: It takes them up to two weeks to gather all the exams in one physicial location (because of custom procedures to get the exams out of certain countries) and circa 10% (can’t remember exactly) of the exams are graded manually (to cross check randomlly). Then you have the discussion about the benchmarks for passing etc, logistics of posting the material, checking for errors. Better to take 10 weeks and know that the process has been thorough than to rush trhough it and risk damaging the brand. Just my opinion (the last part of my rant)