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So what do you want them to do? Strip search each individual?

Assuming most (99%) people who take this exam are professionals who are serious about their career I doubt they really have to worry about the cheating few. Those cheaters won't get far anyway...

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I agree with the idea that CFA should provide a formula sheet (that's how the engineering FE test works). Sure it won't completely alleviate the cheating issue, but I figure it would definitely help cut down on the number of cheat sheets smuggled in. I think it also makes more sense from a knowledge perspective as well (there is little reason why I should have to memorize how to calculate the t-statistic of the correlation coefficient).

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