CFA Institute to Complete Digital Transition of CFA Program Level I in 2021
Computer-based testing and digital learning platform among key offerings
Charlottesville, United States 04 Mar 2019
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 for 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 PrometricÒ, 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.”
Prometric enables test sponsors worldwide to advance their credentialing programs through test development and delivery solutions that set the standard in quality and service excellence. Prometric offers a comprehensive and reliable approach to advising, developing, managing and delivering programs in an integrated, technology-enabled environment across the world’s most secure testing network in more than 180 countries or through the conveniences of online testing services. www.prometric.com
CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion of ethical behavior in investment markets and a respected source of knowledge in the global financial community. Our aim is to create an environment where investors’ interests come first, markets function at their best, and economies grow. There are more than 161,000 CFA charterholders worldwide in 163+ countries and regions. CFA Institute has nine offices worldwide and there are 154 local member societies. For more information, visit www.cfainstitute.org or follow us on Twitter at @CFAInstitute and on Facebook.com/CFAInstitute.