Exam Development/investment-banking-examinations/exam-development

Exam Development

IBCA exams are built by the industry, for the industry. We draw the content for the exams from a combination of industry-wide survey feedback and contributions from our team of volunteer subject matter experts. The result is a rigorous exam development process representing thousands of hours spent exceeding the knowledge standards the industry expects.

Listed below are some of the activities that must be considered in developing a high-stakes certification exam and how IBCA addresses those considerations.

Subject matter experts (SMEs)

Subject matter experts are used in focus groups, item writing sessions and item review sessions. IBCA estimates that 5,000 subject matter expert hours are required to develop one exam.


A trained psychologist/psychometrician assists the development, review, and maintenance of the exam. This ensures that the test and the test development process are credible and improve the item bank’s quality.