The multiple choice answer sheets get sent back to Charlottesville for electronic grading… But in the process, the cargo plane crashes like in Tom Hank’s movie CAST AWAY, and he ends up salvaging the wreck, and uses our exam papers to make fire… I would just lol…would that CFA’s operational risk? Guess i’m just killing time until Aug.
isn’t it marked by the local CFA society
lol, I thought they took 2 months to grade becuase they only have 1 grading machine,and theres an old man shoving each candidate’s paper through 9 hrs a day for the next 2 months, explaining the time it takes. OR The Minimum Pass Score (MPS) setters go on a cruise on the carribean with bucket chilled champagne and writing it off as an business expense (using our candidate fees), and then pluck a random number out of the air which will be that years MPS.
no scanning or electronic grading is done at all…that would take a few hours - not 90 days! No, CFA exams are individually hand scrunized by a small group of druids who were selected at birth, on a remote mountain top in eastern europe, then each and every answer on each and every answer sheet is debated and given due consideration by a team of nobel prize winners in finance (just the few remaining ones alive that haven’t lost several billion dollars in hedge funds they created or consulted to), then they are are carried on the backs of specially bred arabian horses to a small village in central china where the results are tabulated by hand, one by one, on an ancient abacus from the first century BC…then the sheets are taken over to england where the final grading process takes place - the whole pile of answer sheets are dropped from exactly 1,000 feet above stone-henge - the sheets which fall inside the circle get a “pass” and those that fall outside are given a “fail”. This distribution is then subjected to a battery of tests - Breush-Pagan, Durbin-Watson, Dickey-Fuller, Enges-Grainger, et al, to ensure rubustness and statistical validity. The names of the candidates who are thus awarded a “pass” are then chiselled into a stone tablet taken from the pyramid of khufu in Egypt and preserved forever in the underground ante-champer which is then sealed for a minimum of 4,000 years for future generations to behold. The answer sheets results are then brought back to the US on a boat hand-crafted out of a single trunk of an oak tree planted by charles darwin on the galapagos islands… Once finally safely back in the office in Virginia, the results of this process are double-checked by electronic scanning and running a scoring model which takes…oh about an hour all up. But the important thing is that the ancient process is preserved and tradition is maintained - and that’s why it takes 90 days…
I remember reading someone once saying these things are not flown. They are driven back to North Carolina. IPS or something like that. No idea if that’s true…
papers are not flown? how about exam papers of non-US candidates?