JoeyDVivre
New member
- Jun 18, 2026
- 0
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I posted this awhile ago. Since then I have been in some way involved with lots of PCP inquiries due to exam issues.
"CFA Institute has all those stupid rules, but the only ones they actually enforce are the rules about conduct during the test. Every year, CFAI publishes a list of the outcomes of professional conduct program (PCP) inquiries and every year the list just includes people who mess with the rules during the test. As ridiculous as it sounds, if you don't stop filling in the ovals when the proctor says 'Stop', they will boot you out of the program, publish your name in a publication received by 200,000 finance professionals, and make you spend lots of money on lawyers. They really will.
As obvious as all this sounds:
1) Read the rules thoroughly. The answer to 'I wonder if it's OK to [whatever]?' is no.
2) Leave all your books, notes, flashcards, etc. at home. You can't do any meaningful study in the parking lot anyway.
3) Use only the approved calculator
4) Respect the proctor more than your boss, your parents, your spouse, or anyone else in your life for 6 hours.
5) If something does go wrong, bow out as gracefully as you can. June isn't that far away. "
I have a few other things I have learned since:
1) Do NOT write until the last second. Do NOT. It seems that oodles of people just cruise past the proctor saying stop and get busted by CFAI. Nobody seems to get out of this. You can fill in 1/2 an oval, be deaf, not speak the same langauge as the proctor, be sitting in a different state, etc. and they still void your exam, take your money, and give you a censure. Stop 1 minute before times up, close your exam book, close your eyes and look straight at your desk. Think happy thoughts about your kids or your spouse or your favorite basketball team. Just relax and wait for the proctor to say "Times up".
2) If a proctor accuses you of doing something, do not apologize or try to be cooperative even though this seems like the right thing to do. Do not say "I'm sorry" as CFAI has decided that "I'm sorry" is a clear admission of guilt (go figure). If a proctor accuses you of something say "Respectfully, I did not do [blah]." Just keep saying that. Do not try to explain what you were doing unless it's unbelievably clear you are innocent (" I wasn't looking at his paper. I was looking at him in disbelief because he just vomited all over my shoes"). Practice that sentence a few times "Respectfully [Sir or Ma'am], I did not look at anyone else's paper".
3) Do not look around the room. There are some psychotic proctors out there who think that gazing around the room is cheating (as if you might want to try to copy someone else's ovals from 3 feet away). Do not look around to see if other people think the exam is hard.
4) Do not even think about cheating. There is nothing that passing this exam will give you that justifies the crap they will put you through if you are caught cheating. If you are thinking about cheating, get $2000 from whatever source you can and have a great weekend somewhere else. It will be the best money you ever spent. I promise.
5) Failing this exam is nothing. A PCP investigation is vastly worse.
"CFA Institute has all those stupid rules, but the only ones they actually enforce are the rules about conduct during the test. Every year, CFAI publishes a list of the outcomes of professional conduct program (PCP) inquiries and every year the list just includes people who mess with the rules during the test. As ridiculous as it sounds, if you don't stop filling in the ovals when the proctor says 'Stop', they will boot you out of the program, publish your name in a publication received by 200,000 finance professionals, and make you spend lots of money on lawyers. They really will.
As obvious as all this sounds:
1) Read the rules thoroughly. The answer to 'I wonder if it's OK to [whatever]?' is no.
2) Leave all your books, notes, flashcards, etc. at home. You can't do any meaningful study in the parking lot anyway.
3) Use only the approved calculator
4) Respect the proctor more than your boss, your parents, your spouse, or anyone else in your life for 6 hours.
5) If something does go wrong, bow out as gracefully as you can. June isn't that far away. "
I have a few other things I have learned since:
1) Do NOT write until the last second. Do NOT. It seems that oodles of people just cruise past the proctor saying stop and get busted by CFAI. Nobody seems to get out of this. You can fill in 1/2 an oval, be deaf, not speak the same langauge as the proctor, be sitting in a different state, etc. and they still void your exam, take your money, and give you a censure. Stop 1 minute before times up, close your exam book, close your eyes and look straight at your desk. Think happy thoughts about your kids or your spouse or your favorite basketball team. Just relax and wait for the proctor to say "Times up".
2) If a proctor accuses you of doing something, do not apologize or try to be cooperative even though this seems like the right thing to do. Do not say "I'm sorry" as CFAI has decided that "I'm sorry" is a clear admission of guilt (go figure). If a proctor accuses you of something say "Respectfully, I did not do [blah]." Just keep saying that. Do not try to explain what you were doing unless it's unbelievably clear you are innocent (" I wasn't looking at his paper. I was looking at him in disbelief because he just vomited all over my shoes"). Practice that sentence a few times "Respectfully [Sir or Ma'am], I did not look at anyone else's paper".
3) Do not look around the room. There are some psychotic proctors out there who think that gazing around the room is cheating (as if you might want to try to copy someone else's ovals from 3 feet away). Do not look around to see if other people think the exam is hard.
4) Do not even think about cheating. There is nothing that passing this exam will give you that justifies the crap they will put you through if you are caught cheating. If you are thinking about cheating, get $2000 from whatever source you can and have a great weekend somewhere else. It will be the best money you ever spent. I promise.
5) Failing this exam is nothing. A PCP investigation is vastly worse.