與CFA特許金融分析師考試的知名度相比，大家對(duì)于CFA的出題+閱卷+評(píng)分知之甚少，下面跟隨小編一起來了解下神秘的CFA的考試程序：

CFA出題方式

在現(xiàn)行的制度，CFA 考試由超過100位CFA特許資格認(rèn)證持有人組成的考官委員會(huì)及CFA出題小組，在CFA協(xié)會(huì)職員協(xié)助下出題。

CFA出題小組會(huì)不斷更新考試題目，并由考官委員會(huì)、CFA出題小組成員、志愿者以及CFA協(xié)會(huì)職員花費(fèi)數(shù)百小時(shí)嚴(yán)謹(jǐn)審批。

當(dāng)考題的版本踏入終定稿的階段，CFA協(xié)會(huì)的職員會(huì)與世界各地的CFA特許資格認(rèn)證持有人開展審閱會(huì)議。與會(huì)者將確?？碱}用語清晰簡潔，不對(duì)各國文化進(jìn)行價(jià)值判斷，而且例子符合各國投資慣例，務(wù)求令全球考生在公平的標(biāo)準(zhǔn)下應(yīng)考。

出題者會(huì)根據(jù)上述的反饋，在付印前對(duì)試題作出更改。

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CFA閱卷方式

CFA選擇題的閱卷方式采用機(jī)器掃描判分。為確保判分的公正，CFA協(xié)會(huì)采用了多重品質(zhì)監(jiān)控程序，包括檢查受損的答題紙，以及隨機(jī)抽取約百分之五的樣本作獨(dú)立審核之用。

CFA三級(jí)考試的評(píng)閱工作則更為復(fù)雜，因?yàn)槠渲猩婕暗絀PS寫作。每年，CFA協(xié)會(huì)在美國弗吉尼亞州夏律第鎮(zhèn)的總部聚集700位CFA特許資格認(rèn)證持有人參與閱卷工作。在閱卷的過程中，每位考生的身份會(huì)保密。閱卷人只知道考生號(hào)碼，名字和國籍等資料一律屏蔽。這一切都是為了全球CFA考試的公平、公正、公開的考試準(zhǔn)則。

經(jīng)過一周的工作，閱卷工作初步完成，并將進(jìn)入閱卷的程序。此時(shí)，考生的成績會(huì)被從高到低排列，均分為上段、中上段、中下段和下段四個(gè)分?jǐn)?shù)段。閱卷人將重新批改成績位于中上和中下兩個(gè)分?jǐn)?shù)段的考卷(成績位于第25百分位數(shù)到第75百分位數(shù)之間間的考卷)，且不能參與已批改過的考卷的重改工作。除此之外，所有考卷會(huì)被仔細(xì)翻閱，以確保所有答案都被批閱，以及考卷上的總分被正確記錄在系統(tǒng)里。

Post CFA Exam Processing

Grading the CFA exams and releasing results is an intensive, multi-stage process that requires thousands of hours of painstaking review and quality controls. Over eleven weeks, this process follows the fastest, most efficient schedule possible, while ensuring that the scoring of the exams is in accordance with best practices in testing and that every candidate’s paper is processed with appropriate due diligence.

Weeks 1-2

Once exams have been collected and shipped back to CFA Institutefrom all locations worldwide, they are individually reconciled with attendance rosters and prepared for grading and quality-control steps. The first step in the grading process is the machine grading of all multiple-choice and item-set exam answer sheets. Numeous qualitycontrol processes ensure that answer sheets are accurately graded, including a handgraded random sample of 5-10% of candidate exams.

During this period, all comments and complaints related to the eams are investigated.CFA Institutestaff review the exam questios and answers, curriculum readings, and exam results related to each comment or complaint. Special attention is given to questions that may have more than one correct answer, or questions that aepotentially confusing or unfair. If it is determined that a questin has more than one correct answer, all correct answers are credited. If a question is determined to be confusing or unfair, all answrs are credited. During this period, the Level III essay exams are repared for the two-week, in-person grading session that begins in week four.

Week 3

Continued quality-control measures include verifying that all answer documents are accounted for and properly scanned. Once the majority of Levels I and IIpapers have been graded, CFA Institute convenes a standard-setting workshop in which CFA charterholdes independently review the exam questions in detail to identify

the minimum passing score (MPS) that represents basic competece in the subject matter.

Weeks 4-5

Reports for Levels I and II are developed for the Board of Goverors (Board) to review in week six. The Level III in-person essay grading session takes place during this two-week period, involving more than 500 CFA charterholders from around the world who convene in Charlottesville, VA, USA. A standard-setting workshop is covened to evaluate the Level III exam.

Weeks 6-7

After reviewing the standard-setting results, the Board convenes to determine the MPS for Levels I and II. The results for Levels I and II are processed internally. Qualitycontrol measures ensure that the data are correctly entered into the system. Reports

from the standard-setting workshop for Level III are developed for the Board. The Board convenes to set the MPS for Level III.

Weeks 8-11

After eight weeks, Level I and II exam results are released and available on the CFA Institute website. Level III grading and quality-control processes ensure that scores are transferred correctly from the grading books to the computerized systems. Approximately eleven weeks post exam day, Level III results are released.

For more information on CFA exam development and grading, visit

www.cfainstitute.org to read The CFA Program: Our Fifth Decade.

CFA評(píng)分

CFA考試的及格分?jǐn)?shù)是由CFA協(xié)會(huì)理事會(huì)中的CFA特許資格認(rèn)證持有人在評(píng)估每屆考試的難度以及考生的總體表現(xiàn)后定出的。根據(jù)理事會(huì)的決議，CFA協(xié)會(huì)會(huì)定出考試的結(jié)果，并在采取一攬子的品質(zhì)監(jiān)控措施后把結(jié)果公布給考生。

CFA考試成績分為“Pass”或者“Fail”。

CFA一二級(jí)成績一般在考試結(jié)束后60天內(nèi)公布，CFA三級(jí)成績?cè)诳荚嚱Y(jié)束后的90天內(nèi)公布。

CFA評(píng)分體系：CFA考試中會(huì)對(duì)各個(gè)科目單獨(dú)評(píng)分，每個(gè)科目的成績分為三檔：<=50%、51%-70%、>70%，CFA協(xié)會(huì)會(huì)把考生各個(gè)科目成績匯總做加權(quán)平均，從而評(píng)判考生是否能通過考試。

CFA協(xié)會(huì)官方尚未公布具體的通過標(biāo)準(zhǔn)，以下標(biāo)準(zhǔn)為根據(jù)歷年考生的實(shí)際通過情況進(jìn)行估算的：考生正確的答案數(shù)量>=全球成績排名前1%的考生的平均正確答案數(shù)量的70%。

每年大概25%的報(bào)名考生缺席考試。缺席考生的成績不會(huì)納入及格率的算法內(nèi)。

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