CIPM
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Expert Bulletin

 

13 February 2008

 

Congratulations on your decision to continue working toward the CIPM designation. The Expert curriculum builds upon the concepts you mastered as a Principles candidate, but you will find some significant differences in content and format, especially in the area of performance attribution. As the head of the program, I would like to offer some advice on preparing to succeed at the Expert level.

 

Schedule Your Exam Appointment
If you have not already scheduled your exam appointment with Pearson VUE, I strongly encourage you to do so as soon as possible. Seats are available on a first-come, first-served basis, and CIPM enrollment fees are non-refundable, non-deferrable, and non-transferable. In addition, making arrangements to sit for the exam on a specific date may help you keep your preparation on track.

You may schedule your exam appointment through 22 April 2008. With two business days' notice, Pearson VUE allows you to reschedule your exam to another available time and place within the same exam window. Rescheduling your exam appointment must be done before 22 April 2008.

You will receive from Pearson VUE an e-mail confirmation of your exam appointment. Please read the e-mail thoroughly, as it provides you with important details about exam administration policies, some of which are listed below, and what you should expect upon arrival at the test center.


Exam Administration Policies

  • Identification: You must provide two forms of identification that meet certain requirements.
  • Calculator use: Review the calculator policy to ensure your calculator will be allowed into the test center. 
  • Security: A digital fingerprint, photograph, and signature may be taken when you check in for the exam.
  • Exam length: The exam is 180 minutes. We schedule 210 minutes for the exam to provide you with ample time to read and sign the candidate pledge and answer a survey.
  • Breaks: There are no scheduled breaks during the exam. You can take an unscheduled break, but the 180-minute clock will continue to run for the duration of the break.
  • Scrap paper: No scrap paper is allowed. You will receive a dry-erase tablet and a writing instrument for use during the exam. You can have only one tablet at a time. If you run out of space, another tablet will be provided.

 

Expert Curriculum
You may have discovered by now that there are at least two noteworthy differences in the Expert curriculum:

 

  • At the Principles level, all the readings were published by CFA Institute. The Expert curriculum contains readings selected from multiple sources. These readings were carefully chosen on the advice of curriculum reviewers who evaluated them for coverage of the topic, theoretical soundness, global applicability, and readability, among other criteria. Nonetheless, you may at first be unaccustomed to the diversity in style and mathematical notation.
  • At the Principles level, the courseware recapitulated the major points in the readings. The Expert courseware, particularly in the quantitatively oriented Study Sessions II through VII, is problem-centered rather than expository. In these study sessions, I strongly recommend that you study the readings carefully — plan to read them more than once — and use the exercises in the courseware to practice and to test your understanding of the concepts and calculations.

 

Study Tips
By successfully preparing for the Principles exam, you have already demonstrated your ability to manage time effectively. However, you may find the Expert curriculum somewhat more challenging than you anticipated. On average, candidates who passed the Expert exam in the September–October 2007 window spent about 70 hours in preparation. Of course, how much time you will require for adequate preparation depends upon your individual strengths, weaknesses, and study habits. Here are a few practical suggestions for budgeting your time.

 

  • After scheduling your exam, determine how many weeks are available for your preparation. Take into account any vacation plans and upcoming deadlines at work.
  • Realistically estimate how many hours you can productively spend studying the CIPM curriculum each week. Bear in mind that it takes concentration to master the content, and it's harder to learn when you are overtired.
  • Read the syllabus for an overview of the curriculum.
  • Using the suggested study plan provided in the Resources section of the online courseware, write out a working calendar showing which study sessions and topics you'll address each available week.
  • Be flexible. You may find that one topic requires less time than anticipated while another calls for more time.
  • Get started! If you get under way as soon as possible and keep moving ahead, you may find that you have a little extra time to review before exam day.

 

Please be aware that you need not memorize all the formulas used in the Expert curriculum. Certain formulas will be accessible on the screen during the exam if they are required to answer specific questions. See the formula policy for more details.

 

Speaking Engagements & Conferences
The CIPM program actively participates in speaking engagements and industry conferences throughout the world. We encourage you visit our events calendar to learn more about these conferences. In some cases, you can receive discounted registration fees.

 

Best wishes in your study,

Philip Lawton, CFA, CIPM
Head, CIPM Program