Word is that CFAI grades on a curve. So if everyone found the exams easier than the mocks, is it possible that the MPS would be greater than 70% this year?
No, that’s incredibly unlikely, I would never believe they would raise the MPS to above 70%.
I think CFAI’s way of controlling the passing population is to make the exam harder and harder, and then curve it to pass a certain % of people.
I think from reading somewhere that the grading in the past was based on the top 1% of exam scores becoming the ceiling. So if the top 1% group averaged 97%, the score to get a pass would be 67%.
Hope. It is the quintessential human delusion, simultaneously the source of your greatest strength, and greatest weakness.
We may think it was easy but remember the members of AF are actually candidates who study on avg 300+hours and put in the effort to pass the exam. Remember there are still a whole lot of candidates that have no idea what they’re doing.
Yeah I keep hearing that and it always baffles me how people pay money to take this and not prep properly. I mean how many people fail to put in the 300 hours? I guess quite a few.
Test seemed to go well for me also, but I’m not 100% sure obviously. Wait and see.
Overall I thought it was easier than any of the 7 mocks I took. I thought AM was easier than PM and there were only 2 questions that I guessed on. I’d be surprised if I failed. A lot sure would have had to go wrong but I guess it’s not out of the realm of possibility
How is that even possible? Only 2 out of 120 that you didn’t know?
2 out of the 120 that I know that I didn’t know. I knew the general concept and what they were asking on the others, that’s all. I am SURE that I got a LOT of questions wrong even though I thought that I knew the concept. Hope that is clear enough, lol. By no means do I think that I got an amazing score on the exam.
On my last mock I didn’t feel great about it and I got a 77.5%. I felt like the real exam was significantly easier than that one so I hope that means that I did well!
I felt that way on everything except econ. Some of that econ I could remember enough to eliminate one question, but didn’t remember the theory enough to get it right. But I also am at the lower end of AF in terms of preparation.
Also, I talked with a few of the people taking the test. A lot of them were on scholarship/paid by employer and didn’t seem to take it too seriously. They thought it’d be like their Intro to Finance at college. I was the first person to finish/leave from my group both sessions. I tell my friends/family that either I failed badly, or the guy in front of me failed badly. Just glancing at his sheet, I think we had 100% different answers.
I feel borderline about the test. But I know if I had to take it again in December, I’d blow it out of the water. I didn’t have enough time to get all the nuance for things like economics.
I think from reading somewhere that the grading in the past was based on the top 1% of exam scores becoming the ceiling. So if the top 1% group averaged 97%, the score to get a pass would be 67%.
Not sure how to feel about the real exam. I regret that I made mistakes on some very easy questions but I guess I was pressed for time so I didn’t think it through before bubbling out the incorrect answers. Hopefully, I can keep the mistakes below 36 per session :D
I have a theory that the 62% fail rate is artificially inflated by people who sign up for the CFA but never show up to take the exam. In other words, assuming 20% of overall people don’t even show up, the pass rate is closer to 60% of all the people in the exam room. Any thoughts?
I have a theory that the 62% fail rate is artificially inflated by people who sign up for the CFA but never show up to take the exam. In other words, assuming 20% of overall people don’t even show up, the pass rate is closer to 60% of all the people in the exam room. Any thoughts?
I have a theory that the 62% fail rate is artificially inflated by people who sign up for the CFA but never show up to take the exam. In other words, assuming 20% of overall people don’t even show up, the pass rate is closer to 60% of all the people in the exam room. Any thoughts?
I’ve read in a CFAI-issued statement/document that this isn’t true. They only consider those that sat for both the AM and PM sessions. I can dig it up if you’d like but I’m sure its floating around on AF somewhere.
I have a theory that the 62% fail rate is artificially inflated by people who sign up for the CFA but never show up to take the exam. In other words, assuming 20% of overall people don’t even show up, the pass rate is closer to 60% of all the people in the exam room. Any thoughts?
Totally wrong. You must sit for AM and PM to be in the statistic.
The pass rate posted for each year only includes people who have shown and sat for the entire exam.
Hope. It is the quintessential human delusion, simultaneously the source of your greatest strength, and greatest weakness.
Hmmm, just read up on the Angoff method… seems kinda arbitrary, I mean: a bunch of people sit around and figure out if a competent candidate would have answered it right? There has to be an easier way to grade exams, no?
No, that’s incredibly unlikely, I would never believe they would raise the MPS to above 70%.
I think CFAI’s way of controlling the passing population is to make the exam harder and harder, and then curve it to pass a certain % of people.
I think from reading somewhere that the grading in the past was based on the top 1% of exam scores becoming the ceiling. So if the top 1% group averaged 97%, the score to get a pass would be 67%.
Hope. It is the quintessential human delusion, simultaneously the source of your greatest strength, and greatest weakness.
Yeah I keep hearing that and it always baffles me how people pay money to take this and not prep properly. I mean how many people fail to put in the 300 hours? I guess quite a few.
Test seemed to go well for me also, but I’m not 100% sure obviously. Wait and see.
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I felt that way on everything except econ. Some of that econ I could remember enough to eliminate one question, but didn’t remember the theory enough to get it right. But I also am at the lower end of AF in terms of preparation.
Also, I talked with a few of the people taking the test. A lot of them were on scholarship/paid by employer and didn’t seem to take it too seriously. They thought it’d be like their Intro to Finance at college. I was the first person to finish/leave from my group both sessions. I tell my friends/family that either I failed badly, or the guy in front of me failed badly. Just glancing at his sheet, I think we had 100% different answers.
I feel borderline about the test. But I know if I had to take it again in December, I’d blow it out of the water. I didn’t have enough time to get all the nuance for things like economics.
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Is it posible to average 97%
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Vicente, I am in your boat 100%. Congrats to all those who feel so sure about the test.
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Not sure how to feel about the real exam. I regret that I made mistakes on some very easy questions but I guess I was pressed for time so I didn’t think it through before bubbling out the incorrect answers. Hopefully, I can keep the mistakes below 36 per session :D
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Easy overall. Am was darn easy & straightforward theory while pm turned calculative/tricky
I found this analysis of the exam online - http://gyancentral.com/articles/post-graduate/others/cfa-exam:-june-2012-analysis
I found this analysis of the exam online - http://gyancentral.com/articles/post-graduate/others/cfa-exam:-june-2012-analysis
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Are you the advertising guy? I have launched a new product line, will you be willing to accept the contract?
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I have a theory that the 62% fail rate is artificially inflated by people who sign up for the CFA but never show up to take the exam. In other words, assuming 20% of overall people don’t even show up, the pass rate is closer to 60% of all the people in the exam room. Any thoughts?
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I have a theory that the 62% fail rate is artificially inflated by people who sign up for the CFA but never show up to take the exam. In other words, assuming 20% of overall people don’t even show up, the pass rate is closer to 60% of all the people in the exam room. Any thoughts?
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I’ve read in a CFAI-issued statement/document that this isn’t true. They only consider those that sat for both the AM and PM sessions. I can dig it up if you’d like but I’m sure its floating around on AF somewhere.
...word is bond...
thats right the rate is only for those who turned up
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Ok, this has been discussed ad nauseum but the CFA Institute threw out the top 1% thing years ago. They now use the Angoff method.
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Has this been confirmed by the CFA Institute anywhere?
Blog: http://telcotovc.wordpress.com/
Twitter: @TelcoToVC
Totally wrong. You must sit for AM and PM to be in the statistic.
The pass rate posted for each year only includes people who have shown and sat for the entire exam.
Hope. It is the quintessential human delusion, simultaneously the source of your greatest strength, and greatest weakness.
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There is a pdf that is very detailed discussing the MPS and the Angoff method…http://www.cfainstitute.org/mycfa/candidate/takingexams/results/Pages/index.aspx; it is under the exam scores heading.
CPA, CMA, CGMA
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Guys there is less than 50 days left so don’t stress…
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OMFG less than 50 days?!?!?!!? You can count?!?!?!?!? I’m so proud :) lol
just kidding just kidding…less than 50 days, so close, yet so far lol
bandscore 10 is like being in the special Olympics...you don't know whether to feel proud or ashamed :(
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Hmmm, just read up on the Angoff method… seems kinda arbitrary, I mean: a bunch of people sit around and figure out if a competent candidate would have answered it right? There has to be an easier way to grade exams, no?
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