Does anyone think this might make sense ? Could the CFA Institute pass the questions through Scantron within a week and determine the best scoring quartile of test takers ? Could the CFA I then let those people know they passed? I’d like to start studying for the level II, but I have mixed emotions about it considering i don’t know whether i’ve passed. I would certainly vote for a process such as this. Would anyone else ? I can possibly see the CFA wanting to discourage a ‘two-tier’ arrangement where candidates might say, ‘I was notified early for all three tests.’ Having said this, there is already a Standard forbidding charterholders from representing themselves to clients as elite because they’ve passed the tests without any fails… Thoughts guys/girls ?
Er, the best scoring quartile of those who will pass. So, the top .25 * .4 = .1 of test takers.
I’m with you smasher. I feel good but not great about the test and I feel like I need all the time I can get for LII. I am taking this week off and ordering Schweser LII materials. If I am invited to retake Level I I will sell the LII books on Amazon or ebay and recoup a significant portion of my losses.
For all the anxiety about this test, I feel it is odd that no one has any thoughts about this proposed ‘Early Results’ program. I feel I smashed the level I (hence the website handle - and I reiterate my respect for the industry/CFAI/coursework), and I would like to have an indication back early if I ripped a new one into the test. No one has any thoughts ? Or is this just a crazy idea and viewers on the board are just being polite ? Good luck to all. Enjoy your holiday season with the test results hanging over your head like the sword of damocles!
if u feel that u “smashed” level 1, why are u even worried about it?..you might as well just start studying
CFAsmasher Wrote: ------------------------------------------------------- > No one has any thoughts ? Or is this just a crazy > idea and viewers on the board are just being > polite ? > I’m not aware of the CFAI ever releasing early results on a case-by-case basis and it’s very unlikely they’ll do so in the future given the nature and integrity of the grading process they proclaim. Like Dubs said, if you’re so sure you passed, why not start studying for L2 right away?
I have already started studying for the LII. However, it has been difficult to jump into studying for the Lev II without closure on the last test. My first question is: It seems to me entirely possible that the CFAI can be sure, before setting any minimum score, that a certain group of individuals has passed. How large is that group ? My guess is it must be 10ish percent (top quartile of those who will eventually pass the test), at least. Second Question: would those that have taken the test want to hear early if they were in that group ? While I do appreciate the afforded advice, my question goes beyond my particular situation and concerns a strategic vision for delivering test results to candidates.
A “strategic vision” that resulted in a postponed date of results public announcement with one week, but hey, if cannot take the stress of waiting, how well would you do on the job?
I’ll be fine waiting for the results. Though, I’ve always tried to be critical of myself when I find I am examining a proposed improvement by asking, ‘do we really need that improvement?’ Always looking to improve the process is what this particular thread concerns. I always find it interesting when my mother insists that e-mail is useless. Why not write a letter ? Is two extra days that big of a deal ? Patience is a virtue and society runs at too quick a pace anyway, right? On the topic I would suggest one view the public opinion polls on the benefits of the cell phone before they were introduced. People didn’t think they were necessary before they permeated the culture. Studying the Amish provides an excellent reflection on the effects of questioning each proposed improvement in society. But, I appreciate your equating my perspective on improvement with potential weakness in a professional setting. Thanks for your insight.
That isn’t going to happen. CFAI seems to be real concious of giving every candidate and equal footing as far as preparation goes. They aren’t going to give one group of candidates an advantage by telling them early.
Would that necessarily give the group that knows they passed an advantage ? I do see your point. And I feel like it is a good one, too. Just wondering whether there is an inherent advantage in ‘knowing’ you were taking the level II in june.
Theoretically, it would give them anywhere from an extra 2-3 weeks to study, order materials, etc. If you passed and found out, say, Dec. 31st, that would give you a full 3 weeks head start if you so choose. Nothing is keeping anyone from ordering the books and starting to study now, but there is cost involved. So yes, I would view that as a definite advantage.
Smasher, The whole reason that they don’t provide you your exact score on the CFA examination is that they don’t want any one charter holder to be held in higher regard than another. That is the whole idea behind the designation, to have a globally recognized designation that is the gold standard in the finance industry. The idea that you propose, while beneficial to you and others who would like to start studying for level two, would create a designation where some people would be seen more favourably than others (similar to an honours degree in a sense). This is exactly what CFAI is trying to avoid (did you not read the ethics book?), for this reason I can’t see what you are suggesting ever coming to fruition. Although I am not stating that the CFAI scoring system is perfect by any means, if you are able to get your marks before the rest of us CFAI may as well just have you take the exam on a computer (similar to gmat) and issue you your mark on the way out the door. They could even set up a dean’s list for the top performers…I am certainly on board with the idea of having the marks returned more quickly, but I don’t think having a two tiered system is the way to accomplish it. All of that being said it appears that many candidates have been able to go “3 for 3” facing the same time constraints we do currently, so most likely you will be fine regardless.
Makes sense.
If you want to start studying for L2 but don’t want to waste time, pick up your ethics book again.
SuperI: If you’ll notice I discussed the possibilities of creating a two-tier system above. "I can possibly see the CFA wanting to discourage a ‘two-tier’ arrangement where candidates might say, ‘I was notified early for all three tests.’ Having said this, there is already a Standard forbidding charterholders from representing themselves to clients as elite because they’ve passed the tests without any fails… " CFAsmasher Date: December 6, 2007 10:47AM I’ve read the ethics literature many times and appreciate their importance. What is worst about this situation is that I have plans/accommodations in Maui celebrating my passing score (hopefully) from jan 17-25th. Lastly, I’d like to reiterate that I don’t buy the line that there isn’t any way to speed-up the scoring process. Considering the amount of students that take the test and the test’s high cost, I’d have to imagine that there is a better solution. It is just a scantron card; c’mon now! I feel bad for those that believe they’re on the bubble and need to wait for almost two months for results. I would suggest transparency be made a priority for the test’s scoring process and timeline. But in the end, this doesn’t seem like the best place to voice those concerns. So, I’ll leave the subject alone. Thanks for the well-thought out responses by those who contributed.