Has anyone heard about them regrading one of the answers from the morning section of the 2012 exam?
yes
It was enought to push me to a pass. I hope there are others out there enjoying christmas in January. 
Not too many of us from the sounds of it… we wont be getting our own posting in the WSJ…and yes, I asked.
Thank you to the people that contested the guideline answers.
Agreed and congrats to you.
Congrats, too!
what are you guys talking about?
Evidently some adjustment added 114 fortuante takers to the ranks of the passed. Comparing the new pass rate chart from the CFA website to the one issued in 08/2012:
2012A Level 3
New/Old
Total 24,754 / 24,754
Pass 12,870 / 12,756
Fail 11,884 / 11,998
Pass Rate 51.99% / 51.53% (No change at 52% rounded)
Incredible story. Congrats to the new passers. It would have been nicer to get the news in August, but all good in the end I guess.
if this is true … what was the question that was contested? Can the “new passers” share that info?
looks like the Execution Monitoring/Rebalancing Question - which originally had only CPPI as the answer - now shows two possible answers CPPI or Buy and Hold as both acceptable.
Slightly OT, but I know someone in Level II whose score was converted from a fail to a pass – out of nowhere.
Watch applications for manual retabs to go up after the June exams. The CFAI will make a motza due to this “error in marking”. Say there are 130,000 exam takers in June and just 10% of failures do retabs - that’s $1.3m in retab revenue.
Hearty Congratulations to those who had their results changed for good
‘Fail to Pass’ for me as well. Got a call from CFAI yesterday about that. Thanks again to the people that contested the guidelines. There is no need in retabs for that, just read & ask them. I even didn’t knew about these guidelines’ existence. By the way, given recent years’ market behaviour and typical picture of asset bubble construction, for me B&H is more prudent way to build a portfolio, and especially a diversified one. In fact you need to structure an question in a tricky way to unambiguously stick to CPPI.
Maybe this means that I failed in band 10 now??? Congrats to those that this bumped into a pass!
Is this a hoax? Can’t see anything on CFAI website about it…
If its true, that is incredible news for the 114 that were upgraded to a pass. Buy a lottery ticket!
Definitely not a hoax. Have to say I’m happy (really, really really happy) that they were reasonable enough to go back and regreade the question. I can’t thank who ever brought this to their attention enough.
Just shows you how slim of a difference there can be between passing and failing. That one extra night of studying instead of going out can be the difference between a pass and a fail.
Best of luck to you guys in June.
Adwilk-
Congrats and true on your statement. The question that was changed was worth 7 pts in total (5.8% of the exam) and had three parts, so the change would have added 2.33 points or 1.94% to each exam. That means ~1% of the failures (114), or 0.5% of total takers, only needed ~2% more to pass.
Good for you guys! I’d be pretty happy, too knowing I didn’t have to put in another 300+ hrs but for 2.33 points.
^ I’m sure a lot of the failed candidates got that question ‘right’ the first time, so probably fair to say that more than ~1% of failing candidates were ~2% away from passing. Having said that, i’m sure a key factor in CFAI’s decision to revisit that question was that a large number of people got it ‘wrong’ the first time… Anyway, hope the new lucky 114 are still enjoying the belated party! How would you break this news to your co-workers / boss???