One of the questions on the post exam survey asked if a paper or computer based test would be preferred…
They may be considering a computer based exam in the future, I would only enjoy this for the written portion of the L3 since I can type much faster than I can write, also, I assume typed essays would improve the speed at which graders could read and grade the exams.
CFA will eventually go electronic to save money. CFP starts electronic this year. CPA did it 14 years ago!
CFA is stoneage, probably the only test left using a 16th century invention-- the pencil!
If CFA outsources to Prometric, it will be a zoo. Noisy environment with people walking in/out of the testroom, sitting next to firemen, policemen, nurses, etc. You get strip-searched if you go to the restroom, turn pockets inside/out etc…
If they go electronic they’ll have to do a better job of making sure they give people enough desk space to work. The desk space I had for level 2 this year didn’t even let me get both elbows on the desk, there’s no way I’d have room for a laptop and paper to do scratch work on. For level 1 I had to travel to Calgary and the desk space I had there was awesome, huge desks
^Agreed, I had no desk space and not enough room to work. Lucky for me the guy next to me finished each session is about 30 minutes. Either the smartest guy in there or he just picked B for every answer and moved on.
The advantage to computer testing is that after he picked B for 10 straight answers, the computer could pop up a window with a message that reads, “You’re just guessing, aren’t you?”
Yeah, I was finishing the post exam survey and was shocked to see that question.
What do you guys think? Granted we all stick on the computer almost 24/7, but I do get up a lot more often to take a break. Not a smart idea to do it while testing for any of the levels.
CBT is a great concept, but not a very practical one. You’d need a lot more space at the testing centers.
I think it would be a great if CFAI adopts CBT system. All other leading test makers like GMAT, CA bodies (of most countries) etc. have already adopted it. And one definitive advantage of CBT system would be that we would get our results much earlier. Also, there would be less room for errors in checking papers.
If CBT is used, then not all candidates test at the same time.
The exam runs throughout the year, and you can book your own time at existing test centers, just like GMAT.
^CFAI would never have multiple testing times throughout the year. Just not their MO.
I always wondered how long it will be until they integrate Microsoft Excel into the test… any thoughts ???
But that would require CFAI to integrate real world application in their exams, which we know will never happen. 
I would be in favor of Computer Based Exam if and only if we receive our results immediately after submitting our answers but I highly doubt they will be able to do it because of MPS.
We would not get our results immediately due to MPS, different time zones etc. but it should not take as long as it is taking right now. 1 week is enough for deciding about MPS and doing compilation, quality assurance tests and other background stuff.
Dear Haphols_cfa,
CFA Institute invests significant resources to supporting its mission and ensuring the relevance and viability of our programs. We endeavor to sustain and enhance our programs to elevate the investment management profession and faithfully serve our members.
We are carefully exploring the long-term sustainability of the CFA Program exam delivery model, which in some ways remains unchanged since it was first delivered in 1963. As candidate numbers grow and technology continues to advance, more flexible and modern approaches to exam delivery may be necessary. A multi-stage, multi-year investigation is underway to identify effective alternative methods for delivering Level I exams, including computer based testing.
No decision to move CFA Level I to computer based testing has been made. A fundamental requirement is that the rigor, quality, and security of the CFA Program be scrupulously maintained or enhanced. Our duty and obligation to candidates, members, the industry, and society is to ensure that anyone who passes CFA exams has equivalent competence irrespective of exam delivery model.
We are actively engaging with our global community – including candidates, members, societies, prep providers and institutional partners – to gather ideas and concerns regarding exam delivery methods. We also shared information at the 70th CFA Institute Annual Conference in Philadelphia this month. Delegates were very supportive of the need to ensure the sustainability of the CFA Program for the long term. If you have thoughts, we invite you to engage with us.
We will continue to communicate periodically the progress made on this very important research effort.
Sincerely, CFA Institute Future of Exam Delivery Team
Agreed - I find it hard to believe they could go to computer-based testing without having multiple testing dates. I am sure the total cost of the larger testing facilities is a massive expense, but trying to reserve a larger quantity of the smaller facilities ( ie Prometric/Pearson) to accommodate all of the test takers would likely cost more. The way I see it it’s either going be offered more often or the cost of the exam will increase to pay for the usage of the smaller testing facilities.