xilinx_altera

The issue here is not about passing or failing the exam rather about being able to form a valid opinion on an issue, and having the ability to critique what you are faced with. Accepting what an establishment throws at you I what 90% of the people do. It's one reason why many people believe in religions without questioning....ok, I went too far with this, but hope you get the point.

On the other hand, it is possible that CFAI has come up with the best possible exam format, and that we are wrong in seeing any fault in it. That could also happen.

benbenxiong

cfagoal2 Wrote:
-------------------------------------------------------
> From what I noticed, it's only the people who fail
> or who think they will fail that complains about
> the exam.


hey don't say that bro

i bombed it and i still think its fair

hassan

From what I noticed, it's only the people who fail or who think they will fail that complains about the exam.

senlinlang

Here's a thought - the exam vignette style is far more similar to a real life situation that a straight up question. Are you seriously telling me that you don't get inundated with extraneous information regarding your day to day work tasks that you have to filter to find what is necessary and what is not?

If you don't have to deal with this, I'll venture that you're being baby fed your tasks.

Just my $0.02.

b_sea93

got that right... it took me a while to figure out that the vignette is not what it is. Even this year I messed up the morning exam as I kept on reading the stupid vignette thinking that it served some logical purpose. Once I realized it is really just a matter of independent multiple choice questions, I did well. I don't understand how with all the money they collect from exams and annual dues you pay in order to continue to have your charter, which you earned with your skill, money and time, they are unable to figure out a better way to administer this exam.

huangxiaoxie

On testing the hypothesis of the exams significance in explaining the level knowledge of candidates taking it....... i fail to reject the hypothesis and conclude that the exam with the way it is currently constructed and timed does not do the job of testing knowledge of what an investment professional is supposed to know or any other advanced finance professional on that note, according to the curriculums learning objective statement objectives.

It is also worth noting that the level two exam is constructed as vignettes and cases and i don't know about the rest of you, but my personal understanding of the difference between a single multiple choice question and a case is that for a case you are supposed to read the entire thing to be able to answer each question on it... and NOT have the page and a half case broken down into six segments that are completely and obviously independent from each other so that all we do is read each paragraph or for instance look at each two liner with an exhibit and go look for the question on this part alone in the 6 multiple choice questions that follow.

like whats the point of having this test in the format of 10 cases in each session with 6 multiple choice question for each case??? you never need to read the whole case as a whole before you start answering questions on it.... and even the ethics questions are in the same way, the whole case theme doesn't serve any purpose

zhaoyp

I second that.

I also think the exams are fundamentally flawed. The exams are basically a test of memory recall, as you have to memorize formulas scattered through some 4000 pages of text. That's hardly what the real world calls for.

You don't go to a job expected to recall formulas needed to perform your job! Your task is to be able to "use" the formulas, i.e., know how to apply them. In fact, every job would give you and have available to you every reference and every tool you need. Ability and skill are judged based on how you can analyze and solve problems. Do you want someone who can recall the Ibbetson and Chen formula (which by the way I was lucky to having been able to recall it in this past exam) on the spot, or someone who understands what it is used for and when to use it?

The exams should have a standard formula sheet attached with the exam, or have any formulas as part of the question.

wilslm

I'll second all of that and add that I think it is a disgrace that the CFAI isn't a non-profit organisation - it makes a mockery of their stated goals.