Question error? Contact CFAI?

In the morning section for form 5050 there was a question that referenced an analyst’s adjustment and the effects of this adjustment. Yet nowhere in the reading did I find mention of what this adjustment was. Now, it was not a far leap to infer what they would be talking about, but without specification this "adjustment’ really could have been anything.

Has anyone ever encoutered a possible error with a question on the test? Can you contact CFAI to have them look into it?


I don’t think it’s worth notifying CFAI now, for two reasons:

  1. You probably got that question right anyway. You probably chose the most appropriate thing to assume at the moment without any further information, unless you tried to ask a proctor… Haha.

  2. CFAI has experts reveiwing each question very carefully AFTER the exam. Even if they didn’t construct a question in the most optimal way, experts’ opinions could lead them to down-weight (or even ignore) a question in calculating the final marks. This scoring procedure is published on CFAI website.

So don’t worry, keep enjoying your post-exam celebrations!


I must have read through this vignette 12 times trying to find THE adjustment. Damn you Brady!


I’ve wondered about that before. I think it’s because it’s more cost-effective for CFAI (possibly at the expense of the candidates struggling on the exam, depending on how good the questions are).

If the percentage of people choosing the correct answer (and each inccorect answer) is in line with what they expected (e.g. 70% people choosing the correct answer for a question), then questions like this probably don’t have to undergo too much panel discussion between the experts. I bet you most questions are like this, so CFAI and their expert consultants can save a lot of time and effort.

This is just my opinion - what I’m guessing.

I wonder where those informations come from

I think CFAI secretly validates some questions for their test pool, and throws out a certain number of questions that have significantly low correct responses. I would imagine 5+ questions per exam are invalidated. The CPA exam uses this process, approximately 10-12% of that exam is not graded, and they let you know up front that’s the case. So I wouldn’t be surprised if this question is thrown out.

The homepage of the CFA website has a link with the following description:

“Candidates who sat for the June 2012 exam can provide feedback on exam questions and the administration of the exam.”

it was not obvious and spending 10 minutes to decipher a poorly worded question when it should take less than a minute to answer if you know the concept is what was unfair. None of the mocks were this poorly worded (even though some had errata).

Agreed, with the time spent trying to figure out exactly what they want I was not able to get to a couple of other questions. Even if most people come to this assumption in the end and get the question correct, it is a complete time waster. And it is hard to ever assume, b/c sometimes they may not want you to.

Best is to liaise with them I reckon! I had this problem for level 1, wrote to CFAI and got no answer/feedback as expected (I think they make it clear they’re not answering for the sake of secrecy!)

The thing is they ask you for the question number and what session the question popped!

Research and objectivity standards.

Limit the number of people with excess to the report prior to decimation.


Brady is a bad ass motherf*****

Brady sounds cute

And your avatar looks hot :))