Please read prior to submission - your application will require you to acknowledge you have read and agree to abide by the CFA Institute Conflict of Interest Policy, the CFA Institute Volunteer Handbook, and the Non-Staff Travel Policy:
Please note: Your progress cannot be saved while completing this application. Please dedicate 10+ minutes to complete the application in its entirety. Thank you!
Role Objective:
The goal of standard setting is to recommend to the Board a minimum passing score (MPS) that appropriately distinguishes between those candidates that demonstrated mastery of the curriculum from those that did not. The standard setters’ recommendation is one of the key factors that the Board of Governors considers when setting the minimum passing score (MPS) for the CFA exams. The standard setting process is an important step in maintaining consistency and fairness in evaluating candidate performance across years.
Volunteer(s) Roles and Responsibilities
Standard setters help us balance maintaining the rigor of the CFA Program while also setting a minimum score that is fair in relation to previous years exams. This all-volunteer panel will evaluate the level of difficulty for the August 2025 CFA Level 3 Examination.
Volunteers will earn 10 PL and 1 SER credits.
Role Location & Time Commitment:
Volunteers must commit to a 2-day in-person meeting in San Antonio, TX. Volunteers will arrive on Friday, 3rd October and standard setting will take place on Saturday and Sunday, 4th-5th October. With a group dinner on Saturday, 4th October.
We will only be accepting volunteers located in the state of Texas.
Role Experience & Requirements:
Standard Setters must be charterholders in good standing.
Please submit your resume or CV with your application. Those who do not attach a resume or CV will not be considered. Please also indicate if you have previously served as a standard setter (including level(s) and dates).
Conflicts Specific to Role:
- Must be members in good standing;
- Must disclose every relationship with a prep provider, including work for a society-sponsored prep course;
- Prohibited from working for a prep provider;
- May not be currently enrolled in the CFA Program;
- Must disclose all work (including volunteer) for another testing organization in the finance industry;
- Prohibited from teaching, developing materials, preparing students, or acting as an advisor for any prep provider for CFA or within the finance industry for one calendar year after conclusion of their term;
- Disclose all immediate family and household members enrolled in the CFA or CIPM Program;
- Disclose all working relationships with individuals enrolled in the CFA and/or CIPM Program;
- May not serve if a direct report and/or supervisor is registered for the CFA or CIPM exam;
- Prohibited from acting as a CFA exam team member or curriculum writer or reviewer, Council of Examiners member, DRC member, CFA exam grader, a PCR, or society leader.
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