Don't Even Think About Bringing Your Phone Or A Pencil Sharpener To The CFA Exam, But Rollerblades Are Fine

Don't question the Institute's seemingly arbitrary rules. In fact, don't question the Institute period.
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As many of you have long known and some learned this past weekend, the Chartered Financial Analyst Institute is known for three things:

  • Taking itself extremely seriously
  • Coming up with very long and and very bizarre lists of rules both test-takers and those who've achieved the designation must follow
  • Meting out harsh punishments that appear, to the naked eye, as being in no way in line with their crimes, as a warning to anyone even THINKING of fucking with the sanctity of organization and the high regard in which it holds itself

A mere sampling of ways a person can get in trouble with the Institute include: writing erotic novels in one's own/free time, for which the auteur had his membership revoked; fidgeting during an exam, for which the fidgeter in question had his results held pending an investigation; violating the CFA Institute Rental Vehicle Policy, for which the poor schmuck was subjected to a "public censure"; attempting to bring a host of seemingly reasonable but actually outrageous items into an exam room like a pencil sharpener, phone, or passport cover, for which you can expect to be told to GTFO; and, our personal favorite, saying you're a CFA as opposed to saying "I'm a CFA Charterholder", for which the penalty is death.

So it was more than a little surprising to hear this sort of thing was allowed to fly on Saturday:

Though this seems entirely in line with what we've come to expect:

Elsewhere, an unfortunate candidate in Bahrain complained that he wasn’t admitted to the exam because he’d sent his passport off to an embassy to apply for a Visa and it hadn’t been sent back on time: “I went to the test center with two national IDs, a copy of my current passport with a proof that’s it’s with the embassy and an original old passport. But they did not let me in.”

Two very strange things happened during the CFA exams on Saturday [eFinancial]

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CFA 2012: Good Luck To All

As those of you who took the week off to study are well-aware, Saturday is CFA exam day, for all levels. And while we have complete confidence in all of your abilities, some people have expressed feeling a bit jittery about the test. For the vast majority, those fears, while normal, are unwarranted. You just need to talk it out and should consider this space a safe place to do so. For a smaller group of people, though, your fears are totally founded because, statistically speaking, you will fail. Having said that... Back in January, after Matt found out he'd passed Level 1 (with a perfect score), a conversation occurred at Dealbreaker HQ that went something like this: Me: So are you going to sign up for Level 2? Matt: Eh, I don't think so...I mean, I don't really feel like spending the next 5 months of my life studying, y'know? And then what am I going to do? Wait around another year to take Level 3? Me: Uh....YES, I thought that's exactly what I thought you were going to do. Don't you want to be a CFA charterholder? Don't you want to go to CFA Camp? Matt: Meh. Fast forward to last Thursday, when we're sitting around l'office shooting the shit and someone casually mentions, "I wish I were taking the CFA next week." Unfortunately, said someone is not because he choose not to sign up, strangely forgetting how much he loves standardized tests. That being said, if anyone is scheduled to take Level 2 but a) is suffering performance anxiety and b) wants the opportunity to read another recap of how things panned out for an editor of this site, Matt is happy to go in your place and pass it for you. With two nights of studying he gives himself a 50 percent chance (I think it's closer to 75), you'd get those 8 hours back, and it'd make him really, really happy. If he doesn't get to take Level 2 he's considering the idea of the Connecticut Bar in July. Let him have this.