In the past weeks I’ve been working on an exciting little project for the June 2012 results - building on some concepts that have been explored by others in the past here on AnalystForum. At the same time I’m trying to unify all these past efforts to really get a proper, organized approach towards building a good understanding of the CFA results.
Objective of the project is to understand the CFA results as much as possible and try to answer some of the ‘unanswerable’ questions that have been posed, such as ‘what is the MPS this year’ and ‘what is the best 40/60/80 formula’ and so on. After experimenting with several formats I think I’ve iterated to a version that’s easy to particpate in and generates maximum results.
Candidates would use a simple results calculator that also acts as a survey - candidates that receive their results can use this calculator/form to obtain their 40/60/80 score and max/min score. If enough results are collected this can further be analysed to much higher levels of detail (described below).
Obviously all individual scores will be private and analysis is done by aggregate only. Questions planned for the form (trying to keep it to as few as possible):
- Email address
- Score breakdown (i.e. results matrix)
- Pass/fail + band
- Study materials used
As mentioned, immediately after submitting the form each respondent will be sent their:
- 40/60/80 score estimate
- Minimum score
- Maximum score
This is where I think it gets a bit exciting. After a period of time (i.e. after enough submissions have been collected), the analysis can be expanded further to include:
- A better approximation of the 40/60/80 formula for that particular exam (and thus a more detailed recalculation of everyone’s xx/xx/xx score
- Approximate idea of what the MPS is for that exam
- Overviews and average scores topic-by-topic
- If pass, your approximate percentile in the passing band
- Breakdown of study materials used
In order to pull this off properly, I would be super grateful if anyone could chip in on any of the points below:
- Send me latest weightings on results day. Currently I have based the Level I and Level II weightings and topics based on last year’s results - my understanding is that this isn’t necessarily applicable to this year’s results. Would appreciate it if on 24th July, someone sends me the weightings directly to me so that I can quickly update the script if there are changes. I will definitely need someone’s help for Level III as the weightings are different every year.
- More participation. The analysis only works if there is significant participation - if you are supportive please do send the form link to anyone you know that’s taking the exam.
- Help figure out if anything big has been missed. Am not trying to go for a lengthy survey but tryingt o maximize the analysis results - comments appreciated.
What do you guys think - would you be keen to participate and/or help out?