Testing Policies – CFA® Level 1 Exam
With December 2012 CFA® level 1 exam just around the corner; all of you who are appearing for this exam will be busy in your final preparation. Writing mock test, making strategies of how to attempt the paper on the exam day, revising important concepts etc are few things that candidates do in their final preparation for the exam. In this article, I would like to highlight testing policies of CFA Level 1 exam. Each and every candidate who is appearing for CFA exam should be aware of all these policies to avoid any unwanted incident that might spoil the exam day.
CFA Institute has laid down certain policies for the candidates which should be followed by the candidate on the day of exam. CFA Institute gives very high importance to these rules and regulations. In case of violation of these testing polices, candidate might face serious consequences like the proctor might file a violation report against the candidate, he/she might not be allowed to appear for the exam, he/she might be devoid of the result. So, here are the few tips related to testing policies:-
1. Admission Ticket Policy
While downloading the ticket from the CFA Institute’s website, the candidate is required to abide by the rules and procedures of CFA exam. Candidate should print the admission ticket on a neat and unused sheet. They should carry the admission ticket with them on the day of examination. Entry is not permitted in the exam center without the admission ticket. Candidate should not write anything on the front and back of the admission ticket. Candidate’s name on the admission ticket should be same as it is on passport. In case of any discrepancy in this, candidate should submit an Identification information change request with the CFA Institute.
2. Calculator Policy
Only two calculator models are allowed in CFA exam : -
- Texas Instruments BA II Plus including BA II Plus Professional
- Hewlett Packard 12C (including the HP 12C Platinum, 12C Platinum 25th anniversary edition, 12C 30th anniversary edition, and HP 12C Prestige)
Calculator is inspected when the candidate is entering the exam center. The candidate is asked to identify his or her calculator from the sheet with the proctor. The calculators will be checked again when the candidates are seated in their respective seats. Possession of any unauthorized calculator will result in the voiding the score of the exam or termination of candidacy from the CFA program.
Candidate should clear the memory of their calculators before they enter the exam center. Sharing of calculators is not allowed during exams. Candidates may keep the calculator cover and loose battery with them. Calculator instruction manual is not allowed in exam hall.
3. Candidate Pledge Policy
In the exam hall, the candidate has to sign the pledge policy which says that the candidate has not given or received any assistance during the exam. Candidate should read all the points mentioned in the pledge and should strictly follow them.
4. Exam Material Policy
Candidate has to appear for both the sessions otherwise their answer sheets will not be graded. In case the candidate misses the morning session, he or she will not be allowed to sit for the afternoon session. Candidate must not open the exam booklet or start working on the paper unless instructed by proctor. At the end of the exam, candidate must immediately stop writing when instructed. All the exam material must be handed over to the proctor after the completion of exam. Candidate should not remove any exam material from the testing room. They should remain seated until all the exam material has been collected and reconciled.
5. Identification Policy
CFA Institute has changed its identification policy from January 2011. Now only valid original passport is accepted as an identity proof on the day of exam. Candidate must carry their valid original passport with them on the day of exam. Valid passport should contain name of the candidate as it is on the admission ticket, recognizable photograph, date of birth etc. The passport should not be expired.
6. Personal Belongings Policy
Each exam center has a designated area where candidates can deposit their personal belongings. Neither the exam center authorities nor the CFA Institute has any responsibility or liability for stolen, lost or damaged personal belonging left in this area. Items like food or drinks, any kind of baggage, sharp items like knifes, study material, calculator manual, electronic items etc are not permitted in testing room. Candidates are allowed to carry wallet, necessary medicines, keys, eye glasses case with them to the testing room but these materials should remain inside their pockets.
7. Recording Exam Answer Policy
It is the responsibility of the candidate to mark the answers on the answer sheet in the correct format. The candidate to bring their own stationary material for exam .CFA Institute or the exam center authorities do not provide any stationary material. Candidate is not allowed to share the stationary items during exam. Candidate should read the instruction given on the answer sheet and strictly follow them. The answer sheet is scanned by the scanning equipment to calculate score. Candidate should properly fill the bubbles in the answer sheet. Half filled or improperly marked bubbles might not scanned by the scanning equipment. Answers marked on the exam booklet are not graded.
8. Scratch Paper Policy
Candidate is allowed to do the rough work/calculation on the exam booklet. Candidate should not write anything on the admission ticket. It is considered as violation of CFA Institute’s testing policies. Candidate is not allowed to remove any pages from the exam booklet including the blank pages.
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Vivek Sayal, MBA from XIMB, is currently working as a trainer for various finance courses. He has over 3 years of industry experience in organisations like J P Morgan Chase and Tata Consultancy Services. He has passed CFA Level 1 exam and FRM Part 1 exam. He is also NCMP Level 2 certified.