“CFA Special Bulletin: During our final review before awarding the Charter we uncovered a grading error in approximately 12% of Level III exams. We regret to inform you that if you have not received a “Congratulations” email by 7am ET on September 4th 2013 you did not pass the Level III test. We understand the stress involved in this process. Therefore; the CFA institute has decided to pay for prep class and all expenses related for you taking the exam again in 2014. Our deepest apologies.”
If you’ve paid your dues, and were approved, it means your charter *will* be awarded automatically, just as soon as they award it (which as you can see in this thread, they haven’t quite done yet). You don’t have to do anything else, you just have to wait until it’s officially been conferred. What we’re all waiting for is for the website to put CFA after our names, or an email letting us know it’s a done deal.
That’s all what this discussion is about, that no, it’s not automatic. You need to wait for the moment when those tiny little letters appear next to your name in your CFAI profile or you receive an email from CFAI.
My applications were approved mid-August and I paid my dues right away. Maybe I could sue CFAI for misrepresentation in connection with the conditions of obtaining the charter that led me to an uninformed investment decision and caused me some opportunity costs in the form of forgone interest…
I understand that the charter and membership are not the same thing.
My question is: after those two applications have been approved, does it mean that in the beginning of September I should expect to be awarded the charter automatically?
Basically, is it possible to have those applications approved and then NOT be awarded the charter?
No… I got that email as well that they’ll start processing thigs on the 4th. I guess what they didn’t say and we assumed was that the process is instantaneous. Maybe it just takes a while and 4th is when they start it.
But honestly… I just believe there’s someone sitting in front of a big red send button going… “Hmm Should I send it now??” … “Nahhhh… I’ll give it a few more mins” “NOW?? nah… a little big longer…”
He’s probably enjoying himself looking at this forum and seeing how everybody’s so frustrated.
I just got off the phone with CFAI (literally just hung up) and the lady said CFA will show up TODAY for those eligible. A mass emailing will go out next week in addition to letters, and the charters will be sent 4-6 weeks from now. Bam!
