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I heard that CFA Institute writes the exam questions based on what is, or is not, in the notes prepared by prep course providers. Is that true?

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I heard that CFA Institute writes the exam questions based on what is, or is not, in the notes prepared by prep course providers. Is that true?

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No. The exam development process begins long before any review course has published its notes. CFA Program question writers begin drafting exam questions in mid-July, and spend many months reviewing and fine-tuning the questions and guideline answers. Exam questions are finalized by early March so that copyediting and secure printing can take place in time to ship the exams around the world.

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