Hello CAIA, I just took Level 1 of the CAIA Exam. A question I have, that could not be answered at the exam center, is how is the integrity of the exam protected? Unethical individuals could easily tip off candidates taking the exam at a later date within the testing window, and I wanted to know if safeguards were in place to minimize this potential unfair advantage. Any information would be greatly appreciated. Dear DD2CFA, We appreciate your email and can verify that the CAIA program takes the following steps to address these concerns about exam integrity: -Candidates must sign an NDA that specifies that such activity is considered misconduct and has consequences. -There is not one CAIA exam, meaning that exams draw from pools of questions. There are multiple forms of the exam. -CAIA pays particular attention to websites or postings during the exam window. -Also, there is no evidence that passing rates are higher in the later stages of our exam window. Sincerely, CAIA Association
There are many flaws with their reply. ditchdigger2CFA Wrote: ------------------------------------------------------- > -Candidates must sign an NDA that specifies that > such activity is considered misconduct and has > consequences. This is unenforceable. Cheaters can easily cheat despite signing any number of agreements if they want to. I’m sure Madoff signed numerous legal documents, lol. > -There is not one CAIA exam, meaning that exams > draw from pools of questions. > There are multiple forms of the exam. How often are they rewriting? How big are the rules? > -CAIA pays particular attention to websites or > postings during the exam window. This is the stupidest reason. How about e-mails, phones, personal communications? What websites do they use? What search engines do they use? Do they check it every language? > -Also, there is no evidence that passing rates are > higher in the later stages of our exam window. I guess this could be a good point in their favor, but we have no evidence nor the statistical significance > Sincerely, > > CAIA Association I suggest that you make this a one day examination, CAIA Association, especially as the number of participants in the program gets larger.
These are good points Sub. I would imagine exam integrity would be a top priority after ScoreTop with the GMAT Exam. They need to tone this down to a 1 day exam at the earliest indication that passing rates rise throughout the testing window.
The flexibility of the testing window is nice, but once the integrity of the exam testing is in question, its just a matter of when.
The exam method now is more cost-effective and practical for them. However, as the program gets larger, hopefully they will be testing on a single day like CFA. Even that has flaws, since the entire world doesn’t take it at once and it’s still very possible, for example, to call your friend up in the western hemisphere after you’ve taken it first in the eastern hemisphere.
Interesting.
How I understood it is that they just have a huge pool of questions… You can tell me all questions and answers you had on your exam but the chance of me getting even 10% of the same questions is small.