Meet the Bulgarian analyst arguing that the CFA marking scheme isn’t fair

The author of that article needs to learn something about proofreading, and the meaning of “comprise”.
He got the number of questions on the Level I exam wrong (240, not 420), he referred to the questions on the Level II exam as “item questions” not “item set questions”, and he said that the exams are “comprised of” the questions when he meant that the exams are “composed of” the questions; the exams comprise the questions, not the other way round.
Concerning Georgiev’s claim: it sounds as though he needs to study more, and practice more.
 
Would You Look at That wrote:
S666 wrote:
I wonder what error message he got?
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I’m guessing he got the long message….
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The guys question is very serious. For the records I got the long message, but the problem is not with the length of the message but the subjective and superfiacial way I have been graded on the exams. I tried not to put any claims for the last two years but now I cannot tolerate this practice any more, i.e. to be graded with points more of 51 % the questions I have left unanswered at all and at the same time to be detracted from points on questions I have answered correctly.
 
S2000magician wrote:
The author of that article needs to learn something about proofreading, and the meaning of “comprise”.
He got the number of questions on the Level I exam wrong (240, not 420), he referred to the questions on the Level II exam as “item questions” not “item set questions”, and he said that the exams are “comprised of” the questions when he meant that the exams are “composed of” the questions; the exams comprise the questions, not the other way round.
Concerning Georgiev’s claim: it sounds as though he needs to study more, and practice more.
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Thank you for you comment. Of course, I have been studyng very hard. Any time when I have taken Level 3 exam I am delibarately leaving 2 questions totaly unanswered and at the final I am finding points more than 51% on some of these questions. Isn’t it strange? Shall I shut my mouth and say nothing but thank you CFA Institute?
 
Passed Level 1 in 2010
Passed Level 2 in 2011
Failed Level 3 three times
This means you have taken the exams a total of 5 times. This is nothing compared to some others. I took a total of 7 exams before receiving my charter. And this is nothing unique, plenty of people have taken the exam this many or even more times. Do you see them complaining? No?
Fail a couple more times, then you can come back and complain. Funny how it seems the loudest complainers are the ones who have not taken the exam that many times, while the ones who are near-eternal retakers suck it up and keep at it.
 
Traveller wrote:
Passed Level 1 in 2010
Passed Level 2 in 2011
Failed Level 3 three times
This means you have taken the exams a total of 5 times. This is nothing compared to some others. I took a total of 7 exams before receiving my charter. And this is nothing unique, plenty of people have taken the exam this many or even more times. Do you see them complaining? No?
Fail a couple more times, then you can come back and complain. Funny how it seems the loudest complainers are the ones who have not taken the exam that many times, while the ones who are near-eternal retakers suck it up and keep at it.
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Traveller,
I am not complaining about my falure but I do complain for the way my totally left unanswered questions have been graded bearing me points within a range of 51-70% and at the same time the questions I am sure that I am good at and I have answered them correctly for sure have been just downgraded. That is the issue here. The graders do their job in a very subjective and superficial way in contrary to the practice promoted my the CFA Institute.
 
IcebreakerH wrote:The graders do their job in a very subjective and superficial way in contrary to the practice promoted my the CFA Institute.
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You cannot possibly know this.
I know several graders. They’re neither subjective nor superficial.
You’re talking through your hat.
 
S2000magician wrote:
IcebreakerH wrote:The graders do their job in a very subjective and superficial way in contrary to the practice promoted my the CFA Institute.
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You cannot possibly know this.
I know several graders. They’re neither subjective nor superficial.
You’re talking through your hat.
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Yes, I don’t know even one grader and I don’t want to know even one of them. Read though the articles posted on ireport.cnn and if you have any doubts afterwards please give me your e-mail address in a private message and I will send you the whle correspndence where you can take a look at all these matters.
 
IcebreakerH wrote:
S2000magician wrote:
IcebreakerH wrote:The graders do their job in a very subjective and superficial way in contrary to the practice promoted my the CFA Institute.
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You cannot possibly know this.
I know several graders. They’re neither subjective nor superficial.
You’re talking through your hat.
Click to expand...
Yes, I don’t know even one grader and I don’t want to know even one of them. Read though the articles posted on ireport.cnn and if you have any doubts afterwards please give me your e-mail address in a private message and I will send you the whle correspndence where you can take a look at all these matters.
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I don’t need to read the articles; the authors know no more about it than you do.
And I needn’t send you my e-mail address in a private message. Unless you’re a complete idiot you should be able to get my e-mail address with a minimum of effort.
 
“Any time when I have taken Level 3 exam I am delibarately leaving 2 questions totaly unanswered and at the final I am finding points more than 51% on some of these questions. Isn’t it strange? Shall I shut my mouth and say nothing but thank you CFA Institute?”
WOW Genadiy, that’s very powerful!!! I’m glad you spoke up! I should try this next year, leave two questions blank and see if I get greater than 51% too. It would be damning evidence of erroneous essay grading. More people should try, at least on one question. We could all post which question we left blank and the subsequent result from CFAI as released. If a bunch of people get > 51%, it’s time for a class action lawsuit.
For the all the time and effort we all put into this, we deserve transparency, fairness and a system that doesn’t fail us regarding quality control that works and one that can be *shown to work.*
Incorrect data entry of scores could happen, technology glitches we know does happen with CFAI, human error can’t be avoided and I would say gets worst if nobody is watching and nobody is able to challenge it. They just tell you you didn’t remember it correctly and you don’t have a copy to prove it.
A lot of people have issues with the CFA L3 AM Grading process. I still do and strongly believe because nobody took the time to read my long sentences on top of hard to read handwriting, they are just zeroing me out to get on with it. Retabulating it doesn’t get anybody to regrade your answers. There’s no appeals process. Judicial prudence is one that recognized systemic problems exists and has an appeal process to still deliver justice when something breaks.
The incorrect statements CFAI made about your exam books reflect the lack of quality control on their part to do their job. This black box BS needs to go. Candidates deserve to be able to believe in the system that promotes fair play and ethical professionalism, not a black box dictatorship.
Thanks for your testimony and thanks for the courage to speak up, most people are too chicken to do so.
I’m PRO the 1Blank Question Experiment to test your findings.
 
Suppose there is a 10-point essay question, and you leave the whole thing blank. I know the CFAI can “throw out” portions that they deem unfair or erroneous. Could you score over 51% by leaving the whole thing blank, and CFAI subsequently tosses out 6 points?
 
I really don’t get the complaining going on these days . Some people just think that they are entitled to pass just because they missed some weekends in studying and paid the institute some $$$ . This attitude is also found in some graduate level programs (MBA) and some undergraduates have the same attitude .
The funny thing is Level III is the most clear . The institute posts the essay section EVERY year with solutions , they also point out the LOS for EACH question .
 
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