I highly doubt why the CFA Institute had to dilute the pass percentage this year as it has affected a sizable portion of candidates whose scoreline lied pixels away from the MPS.
Isn’t it true that every year there will always be a sizable portion of candidates above and below MPS by a pixel? Hence band 10 for the below?
There is an article stating circa 150k people take the exam in June and around 50k for L2 (I think it’s actually 40k+). So based on that, it’s only 1k difference in candidates passing. Not sure, but highly doubt CFAI is diluting pass % based on 1k candidates
Guess 60K+ for l2 this year.
That’s exactly why. Although never made public, over the years I’ve heard the same thing repeated many times. The CFAI sets the MPS based on how many people they want to let through to the next level (or pass if it’s L3). So, say they want to have a total of 75,000 people taking L2. They know 25,000 L2 people will fail and likely retake it, so that leaves them with 50,000 seats to fill. They then look at the L1 results and find out what score gets them to pass along 50,000 candidates. Btw, I made all those numbers up for illustrative purposes but I imagine you get the point.