Mumbai: After nearly 60 years administering paper-based testing for the CFA Program, CFA Institute, the global association of investment management professionals, will transition its Level I program to computer-based testing (CBT) starting in 2021. The transition helps CFA Institute keep pace with the evolution of global testing and credentialing practices and improve the overall candidate experience. CBT enables CFA Institute to offer a wider selection of test venues, more flexible scheduling, and expedited exam results delivery.
“Our highest priority is to uphold the standard of the CFA charter. Maintaining the security of the exam and the rigor of what is expected of candidates is critical to that process,” said Paul Smith, CFA, president and CEO of CFA Institute. “This is a natural evolution in how we design and deliver our programs. Offering computer-based testing is part of a larger digital transformation of the CFA Program that supports our mission to lead the investment management profession globally, increase our global relevance, and better reflect investment practice in today’s workplace.”
A one-stop digital learning platform, for example, known to candidates as the Learning Ecosystem (LES), is now available for Level I candidates. The LES offers the entire Level I CFA Program curriculum, all existing study tools, and features that help candidates track and manage their learning through an online, personalized learning experience. The curriculum itself is evolving to include fintech topics such as artificial intelligence and machine learning.
Following a comprehensive procurement process, CFA Institute selected Prometric, the global leader in service excellence for the testing and assessment industry, as its primary vendor for the transition to computer-based testing. Each year, Prometric delivers more than 7 million exams at professional testing locations that offer the highest levels of operational quality, consistency, and security. Prometric’s commitment to continued investment in innovative technologies and delivery capabilities – including the addition of more than 250 new testing locations around the globe – will increase access to the CFA Program.
“Prometric is honored to have been chosen by CFA Institute as their strategic vendor for the digital transformation of the CFA Program,” said Charlie Kernan, president and CEO of Prometric. “Like CFA Institute, Prometric has demonstrated an unwavering commitment to service quality and rigor in the provision of services to our clients and the working professionals they serve. We look forward to working collaboratively with the CFA credentialing team in the successful launch of the Level I CFA Program exam in 2021.”