TOTAL POINT VALUE OF THIS QUESTION SET IS 12 POINTS Each vignette will begin with a statement of the topic and total point value. All topics may be covered in either the first or second sessions, and possibly both sessions. The CFA ® Program curriculum topic areas for Level III will be randomly placed on the exam. You will need to refer to the vignette before answering each item. Hence, the items are not free-standing, as in the CFA Level I exam. Structure: The Level III exam consists of item sets comprised of vignettes with accompanying multiple-choice items and constructed response (essay) questions.Īll questions must be answered based on the information in the vignette. If you choose to do so, you may describe steps used in the calculation by typing out variables in an equation using normal keyboard strokes. A correct numerical value typed in the essay box by itself receives full credit – formulas and explanations are not required. An essay text box will accept typed words and numbers. This functionality has caused some confusion in the past and has now been removed. Math editor function removed: Previously, candidates had the option to use a built-in math editor to describe calculation steps or show values for essay questions.Previously, this functionality was limited to the question itself and not the supporting vignette. Highlighting functionality available within the vignette: Candidates now have the ability to highlight pertinent text within the vignette for each question.Overall the Level III exam will still contain 11 essay sets and 11 item sets for 12 points each. The mixed distribution of item types across the two exam sessions will create a more-balanced delivery of questions throughout the exam. Each session will now have either 6 item sets and 5 essay sets or 5 item sets and 6 essay sets. Constructed response (essay) questions mixed into both exam sessions: Previously, the first session was all essay sets and the second session was all item sets.NEW IN FEBRUARY 2023: The following exam format changes will take immediate effect beginning with the February Level III exam.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |