Abstract
This study examines the assurance of learning in a finance program by analyzing the factors influencing students’ CFA Level 1 exam (CFA-L1) scores. Results show that (1) performance in CFA-L1 is explained by factors similar to those identified in studies on normalized standard examinations; (2) knowledge retention from non-Candidate Body of Knowledge (CBOK)-aligned courses is almost non-existent. The author suggests that replacing core courses with CBOK-aligned courses is the most effective way to “close the loop.” The author notes that internal validation tools (e.g., course assessments) are not useful due to systemic grade inflation and the culture of favoring soft skills over academic rigor.
Recommended Citation
(2024)
"On the External Validation of an Undergraduate Finance Program’s Assurance of Learning,"
Journal of Economics and Finance Education: Vol. 23:
Iss.
1, Article 9.
Available at:
https://scholarship.rollins.edu/jefe/vol23/iss1/9
