I’m kicking myself for not taking this in June. How did that pass rate get so elevated over historical norms and is there any chance CFA keeps it elevated?
cv Wrote: ------------------------------------------------------- > I’m kicking myself for not taking this in June. > How did that pass rate get so elevated over > historical norms and is there any chance CFA keeps > it elevated? a lot of people lost their jobs in 2009, so decided to actually SHOW UP for the exam, hence the high pass rate. Remember the lower pass rate in other years also includes all the no shows. I am pretty sure more people showed up for the June exam than in previous years.
Yo! Pass rates do NOT include no shows. FACT!
Yeah beatthecfa is right, pass rates do not include the no shows, otherwise the fail rate would be much much higher. Was 2009 the year where they implemented the 3 choices format, rather then 4, that may explain the sudden increase… Also the July exams have more test centers available which means you might get a more deversified population and possibly higher pass rates (rather then just big city folk or people willing to travel a lot to reach a test center)
There were a lot empty seats between people, I think those are the people that didn’t show up
cfagoal2 Wrote: ------------------------------------------------------- > There were a lot empty seats between people, I > think those are the people that didn’t show up In NYC, at least, there were many open seats, and when I checked in, the proctors seemingly had full lists of names…
I’ve heard a few people say this, and I don’t get it? Sure, more people passed in June, but that in no way means that the exam was easier? There was a lot of very intelligent people laid off, who decided to take it, and they passed. I failed band 10 in June, and I just retook in December, and in my opinion, December was easier. So don’t beat yourself up about it.
I got band 9 in June and I thought the December exam was much tougher. I think the pass rate was artificially higher in June because they switched the format to 3 answers. I think they tried to adjust for that by increasing the difficulty of this test because the high pass rate was unintended in June.
they can not have an unintended rate, if they thought it was too high, they can just raise the MPS since it is not published
cfagoal2 Wrote: ------------------------------------------------------- > they can not have an unintended rate, if they > thought it was too high, they can just raise the > MPS since it is not published I cannot be lead to believe that the CFAI would not anticipate a 3 option exam being easier…
I thought if 100 people sign up and only 50 show up to take it and of that only 25 pass then the pass rate is 25/100 i.e. 25%? are you guys saying its 25/50 = 50%?
Hank Scorpio Wrote: ------------------------------------------------------- > cfagoal2 Wrote: > -------------------------------------------------- > ----- > > they can not have an unintended rate, if they > > thought it was too high, they can just raise > the > > MPS since it is not published > > > I cannot be lead to believe that the CFAI would > not anticipate a 3 option exam being easier… I thought that too, but in all the stuff they published at the time of the change, they insisted they felt it wouldn’t make a difference, because at least one answer was always implausibly incorrect, and majority of candidates knew that, and so it was effectively always best of three. I’m not convinced, but hey, I’m not going to argue with the great and powerful CFAI!
ZeroBonus Wrote: ------------------------------------------------------- > I thought if 100 people sign up and only 50 show > up to take it and of that only 25 pass then the > pass rate is 25/100 i.e. 25%? > > are you guys saying its 25/50 = 50%? Pass rate is # of people who pass/Total # of test takers If you take the morning and skip the afternoon, you are not considered a test-taker If you don’t show up at all, you are not considered a test-taker
The pass % is only from the people who attended the exam, that’s for sure. But i think probably they won’t even include the people who did not attend both sessions since they don’t grade their exams.
Whoa I thought the people who don’t show up were included. I figured that if 25% don’t show up, based on a 40% pass rate, I have a 53% chance of passing just taking the test. This thing is harder to pass than I thought!
ZeroBonus Wrote: ------------------------------------------------------- > cv Wrote: > -------------------------------------------------- > ----- > > I’m kicking myself for not taking this in June. > > How did that pass rate get so elevated over > > historical norms and is there any chance CFA > keeps > > it elevated? > > > a lot of people lost their jobs in 2009, so > decided to actually SHOW UP for the exam, hence > the high pass rate. > > Remember the lower pass rate in other years also > includes all the no shows. I am pretty sure more > people showed up for the June exam than in > previous years. ARe you sure it included no shows?
Go with assumption that only 1 in 3 will pass the exam.
I’m pretty sure I remember Stalla giving a presentation and them saying the pass rate included noshows. Also I somewhat remember my CFA professor saying the same thing. Don’t quote me on the latter.
This is straight from the FAQs section on the CFA website… "Do the pass/fail numbers published by CFA Institute include all the registered candidates or just the ones who took the exam? The pass rates include only those candidates who actually took the exams. The numbers do not include no-show candidates or those who withdrew. " There you go, issue resolved. % does not include no shows.
If I were in CFAI management committee and if there was any issue of revenues going down, I would get more people into the program. That is, by letting more people pass L1 and then restrict their exit from L2 and L3. That way, CFA program is not diluted and they still get more revenues. If this is their strategy, I dont see any reason why pass rates should be any lower this time. Anyways, we will have verification in less than 2 months. Hope it is like this and good luck to you all for your results. I dont mean to take away any credit for your hard work though. But wishing for higher pass rate is wishing for better luck on your side.