There are just two weeks left to the exam and hopefully all of you are nearly prepared academically for the test. You’ve put in your 300 hours of studying, diligently worked your practice problems and mock exams and are confident that you have mastered enough to put you well above that passing score.
But are you prepared for the day of the exam? Every year, candidates are turned away from the test or fail because they do not understand CFA Exam policies and procedures. After spending all that time, do you want to fail the test for something as simple as checking out list of exam rules?
Below are four website links that will help prepare you for what’s waiting on June 7th. The last link is probably the most important as it leads to the full list of testing policies but click through the others just to make sure you are not missing anything important.
CFA Program Main Page
This is the main landing page for the CFA program. It’s probably of secondary importance compared to the pages linked below which focus on the exam but you should be familiar with the site in case you need to come back for general questions on the designation or the program.
CFA Exam Main Page
This is the main landing page for the CFA exam. It is also more general than you probably need at this point but a good reference for later. You should know most of the information like exam dates and content structure but there are a few links here that might be helpful. The page links to testing policies, grading and when you can expect results.
June Exam Testing Locations
This is the first ‘must-see’ page with a drop-down list of cities in which the test is administered. The test center for which you are registered is listed on your exam ticket which you should have received by now. You can only take the test at the site for which you are registered. You are allowed to change your test center but it must be done through the Institute before the exam.
If you have not already done so, I highly recommend you look at your exam admission ticket now. Right now. You absolutely MUST know how to get to your test center before exam day. If at all possible, you should try a practice run some morning before exam day to see how traffic might be and where you are able to park. I always arrived at the test center extremely early on test day, sometimes as much as three hours early. If you plan on arriving an hour or two early and everything goes smoothly, then use the time to review flash cards or just relax. This avoids any one-in-a-million problems like a car breakdown or having to run back home to get something.
If you do not live close to your exam site (within city limits), I would recommend staying in a hotel the night before if possible. First, you do not want to be waking up extremely early to make a 3+ hour trip to the exam site. You need a restful and relaxing morning before the exam. Second, there is just too much that can go wrong with that long of a trip planned the morning of the test.
CFA Program Policies
This last link is hugely important. It links to all the testing policies for the exam including admission tickets, calculators, exam materials, identification, and personal belongings. Even if you think you know all the exam policies, I would recommend that you go to the page and just double-check the material. It will take less than half an hour and you may just find something that will save you on exam day.
If you have not done so, I would suggest preparing your exam day kit as soon as possible. The items are not perishable so you can put it together two weeks in advance and not have to worry about it. Print out two copies of your admission ticket. In this kit, you will put:
- Passport identification
- Two printed copies of your admission ticket
- A printed map from your home to the test site
- Pencils (and pens if needed for the Level III Exam)
- Ear plugs
- Pencil sharpener
- Extra calculator battery and small screwdriver
Your passport information absolutely must match the information on your admission ticket and that you supplied when registering for the exam. If any of this information has changed, you need to contact the Institute immediately. Processing these changes can take up to a week so you cannot wait.
Exam day really isn’t too complicated. We have all taken exams before and understand testing policies. The reason why this particular exam day is so important is because it only happens once a year and there is absolutely no leeway in the rules. This isn’t like the professor you had in undergrad studies that would let you take the exam later if you were sick or late. There are no excuses and no repeats with the CFA exam until next year.
We will cover some suggestions for test day in another post this week. For now, the important thing is to make sure you know exactly how to get to your exam site (including any road closures or detours) and exactly what you will need to bring.
Til next time, happy studyin’
Joseph Hogue, CFA