If this is the first CAIB exam that you have ever written or if it has been a while since you last wrote, you will want to refresh yourself on the format of the exam.
The CAIB Pass Mark is 60%. All ½ marks are rounded up and anyone who it within a few marks of passing is remarked to see if any additional marks can be found. This is one of the main reasons why I tell my students to never leave a question blank! A partial mark on a couple of questions could be just enough to bump you up to that 60%.
For CAIB 1, 2 & 3 Exams
This exam is made up of:
12 Key Terms – These are the definitions that are found at the end of the chapter. Each CAIB level has about 80 key terms so you are absolutely encouraged to learn as many of these definitions as possible – 12 marks can be a substantial part of the exam marks needed to help you pass.
10 Multiple Choice Questions – These 10 questions are A, B, C and D answers. Be sure to read the questions very carefully as a small NOT buried into the question can lead to an absolutely different answer than what you are thinking it is. A great trick is to watch the multiple choice questions as they may be repeated later in the exam which can help you remember what the answer is.
26 3-Mark Short Answer Questions – The simple thing to remember with the 3 mark questions is that you can never be asked for more than 6 points on any given topic (as each point would be worth ½ mark each). So if you find a list of 15 items in the book, you only would need to remember a maximum of 6 of them. Many times the question will not use all 3 marks on one thing but will make 26a worth 1 mark, 26b worth ½ mark and 26c worth 1 ½ marks or something similar. The question will all be on the same topic but this will allow the exam to cover as much information as possible.
For the CAIB 4 and CPIB Exams
These exams are composed of all essay style questions. You may have 2 mark questions mixed in with 10 mark questions as you are expected to have a more advanced knowledge of the material at this point of the game. When studying, look for lists of items as they make great long essay style questions such as a 10 mark question of “What could you do in your office to enhance your risk management offerings to clients”. Being able to list the methods you could enforce as well as a brief explanation of each will help ensure your success on the exam.