Pen or Pencil

CFA Level III
#1

Does anyone know whether pencil is allowed for writing the AM session or not this year? Thanks!

#2

Historically, CFA Institute has allowed you to use a pencil in the morning session, but they prefer that you use a pen, and their official guidlines (http://www.cfainstitute.org/about/governance/policies/Pages/recording_exam_answers_policy.aspx?PageName=searchresults&ResultsPage=1) specify blue or black ink.

To be safe, you might want to e-mail them. If you do, and they reply, please post their reply here.

#3

Just got the reply from the Institute, however, it seems that “Pencil” is not allowed this year…

Thank you for following up with us regarding your level III examination. It is your responsibility to complete the essay book correctly to ensure all information is accurately recorded during grading and your results are correctly reported back to you. When completing your essay book:

  • Use blue or black ink. You must bring your own pen on exam day. Testing personnel will not provide writing instruments to candidates.
  • Write your CFA Institute ID and seat number on the front cover of your exam book.
  • Sign the candidate pledge inside the front cover. Do not remove the candidate pledge card.
  • Essay answers must be written in English.
  • Each essay question consists of one or more parts (A, B, C, etc.). Some parts direct you to write your answer in a template. Instructions in bold print immediately following the question direct you to the page number of each template. Answer all other questions on the lined page(s) following the question. For these questions, label each part of your answer clearly (A, B, C, or i, ii, iii, etc.).
  • Answers on question pages will not be graded. You may make marks and notes on the question pages.

Please feel free to contact me if you have any further questions.

Best Regards,

Edward Coles | Client Services Specialist | CFA Institute | Contact Us

Follow CFA Institute online: CFAInstitute.org | twitter.com/CFAInstitute │ Facebook.com/CFAInstitute │_LinkedIn: Member Group_ │_LinkedIn: Candidate Group_

#4

Okay and being that we must use pen it seems, does anyone know the standard for crossing out your work and edits? Is it perfectly acceptable and done frequently for candidates to change their mind as they write and cross something out and re-write it? Or should we be EXTRA careful and only write in the exam book when we have our 100% final answer

#5

People make such a big deal out of these small details. Cross out stuff. Who cares. They mark the first answer you provide (that’s not crossed out). Use a nice blue pen because it shows up well on the paper.

Write neatly and clearly. And in very short bullets. Make the grader’s life as easy as possible. If it gains you .5 marks from being clear and to the point, it might be the difference between a pass and fail.

Make sure you mark what question you are answering, such as:

(4)

(a) Yield is 5%.

(b) Jim’s investment horizon is 24.5 years.

© Answered in template.

Etc.

#6

I did this on the exam the last time i took it…

cross out anything that is wrong and write above or indicate it with arrow(s)

unless u write damn fast, else try not to waste time writing chunks

i think the graders do not grade neatness but correct answers

#7

try to be neat with the crossings and all.

IMO the c) answered in template seems needlessly redundant. since ur already writng that statement, u are sure writing the answer where it should be

#8

What type of pen is preferred - gel, roller ball or ball point? Can someone suggest a good smooth writing pen.

Thank you!

#9

Uni Ball Jetstream FTW. Don’t use erasable.

#10

Get one that doesn’t smear, doesn’t drag, and doesn’t make your hand tired.

I used the Papermate Inkjoy 550.

#11

^ I’m just happy to be past the regular vs. mechanical pencil debates that crop up before L1.

#12

wasn’t there 1 brand of pen that would disappear when exposed to light for too long? might want to avoid that

#13

Those that use pen have lots of gutz. I change my mind too often to have confidence in using a pen.

#14

“Sometimes wrong but never in doubt” - Jeff Skilling

Montblanc Meisterstuck rollerball with a black, fine tip refill.

#15

dont use erasable pen and don’t use gel pens. they WILL smudge. a plain bic pen is all you need.

#16

I wrote with Pencil and passed. I am glad I used pencil because it allowed me to keep things straight and neat. I actually used the same Pentel 0.7mm mechanical pencils for all 3 levels.

#17

Bring a typewriter.

#18

Why not erasable? Was just thinking that would be the perfect solution.

#19

i just bought a box of dozen erasable frixxion pens when i noticed when it’s exposed to very high temperature (deliberately leave the paper with that ink in a very hot van of mine baking in the sun for 5 hours) the writing sort of disappear… darn… must buy bic now (yes it doesnt smudge)

#20

I’m gonna use pencil for the questions where you need to circle your answers… and gonna overlay the pencil with pen in the last 5 minutes if there’s time left.