Following a comprehensive procurement process, CFA Institute, the global association of investment management professionals, has selected Prometric, the global leader in service excellence for the testing and assessment industry, as its primary vendor for the transition of its Level I program to computer-based testing (CBT) starting in 2021.
In this capacity, Prometric will leverage its extensive global footprint of more than 700 professional secure testing locations, its significant continued investment in technological innovations, and its proven evidence-based operational processes to provide individuals seeking the CFA designation with an exceptional experience throughout the testing lifecycle. Prometric has been entrusted by more than 200 leading professional certification organizations to assist in the successful transition from paper-based to computer-based delivery. This experience provides an in-depth understanding of transition risks and proven tools, techniques and processes to ensure a successful migration. Today, Prometric delivers more than 7 million exams annually on behalf of our clients.
Prometric is honored to have been chosen by CFA Institute as their strategic vendor for the digital transformation of the CFA Program, said Charlie Kernan, president and CEO of Prometric. Like CFA Institute, Prometric has demonstrated an unwavering commitment to service quality and rigor in the provision of services to our clients and the working professionals they serve. We look forward to working collaboratively with the CFA credentialing team in the successful launch of the Level I CFA Program exam.
Computer-based testing delivery offers many benefits to global credentialing organizations such as CFA Institute. Computer-based platforms enable test sponsors to create exams utilizing a variety of item types and to deliver exam content in a format familiar to working professionals. Use of a robust integrated test development and delivery solution enables content to be created and deployed quickly and efficiently to a dispersed testing network, ensuring the quality and integrity of exams presented to test takers. And CBT delivery provides testing programs with the opportunity to deliver in fixed administration or continuous testing windows, as well as delivery at brick-and-mortar or pop-up testing locations, based on the unique needs of the program.
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Our highest priority is to uphold the standard of the CFA charter. Maintaining the security of the exam and the rigor of what is expected of candidates is critical to that process, said Paul Smith, CFA, president and CEO of CFA Institute. This is a natural evolution in how we design and deliver our programs. Offering computer-based testing is part of a larger digital transformation for the CFA Program that supports our mission to lead the investment management profession globally, increase our global relevance, and better reflect investment practice in todays workplace.
Prometric enables test sponsors worldwide to advance their credentialing programs through test development and delivery solutions that set the standard in quality and service excellence. Prometric offers a comprehensive and reliable approach to advising, developing, managing and delivering programs in an integrated, technology-enabled environment across the worlds most secure testing network in more than 180 countries or through the conveniences of online testing services. For more information, visit www.prometric.com or follow us on Twitter at @PrometricGlobal and www.linkedin.com/company/prometric/.
CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion of ethical behavior in investment markets and a respected source of knowledge in the global financial community. Our aim is to create an environment where investors interests come first, markets function at their best, and economies grow. There are more than 161,000 CFA charterholders worldwide in 163 countries and regions. CFA Institute has nine offices worldwide and there are 154 local member societies. For more information, visit www.cfainstitute.org or follow us on Twitter at @CFAInstitute and on Facebook.com/CFAInstitute.
Mary Campbell Rouse